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3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Kawai Musical Instruments Manufacturing Co's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was -17.46%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
TSE:7952's 3-Year ROIIC % is ranked worse than 74.78% of 793
companies
in the Travel & Leisure industry
Industry Median: 3.94
vs TSE:7952: -17.46
Kawai Musical Instruments Manufacturing Co (TSE:7952) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Kawai Musical Instruments Manufacturing Co 3-Year ROIIC % Related Terms
Kawai Musical Instruments Manufacturing Co 3-Year ROIIC % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kawai Musical Instruments Manufacturing Co 3-Year ROIIC % Chart
Kawai Musical Instruments Manufacturing Co Annual Data
TSE:7952 vs AS, HAS, LTH: 3-Year ROIIC % Comparison
For the Leisure subindustry, Kawai Musical Instruments Manufacturing Co's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kawai Musical Instruments Manufacturing Co 3-Year ROIIC % vs Travel & Leisure Industry
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 82.7892 (Mar. 2026) - 3317.3931 (Mar. 2023) )
/
( 60151 (Mar. 2026) - 41624 (Mar. 2023) )
=
-3234.6039
/
18527
=
-17.46%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Kawai Musical Instruments Manufacturing Co (TSE:7952) has a 3-Year ROIIC % of -17.46 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Kawai Musical Instruments Manufacturing Co and its competitors. According to the industry distribution chart, Kawai Musical Instruments Manufacturing Co ranks #593 out of 793 companies in the Travel & Leisure industry, placing it in the top 74.8%.
Is Kawai Musical Instruments Manufacturing Co's 3-Year ROIIC % too high?
Kawai Musical Instruments Manufacturing Co's current 3-Year ROIIC % is -17.46. Based on the distribution chart, Kawai Musical Instruments Manufacturing Co ranks #593 out of 793 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Kawai Musical Instruments Manufacturing Co has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kawai Musical Instruments Manufacturing Co's 3-Year ROIIC % compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Kawai Musical Instruments Manufacturing Co ranks #593 out of 793 companies for 3-Year ROIIC %. This places Kawai Musical Instruments Manufacturing Co in the lower half of its industry. The industry median 3-Year ROIIC % is 3.94. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Travel & Leisure company?
The median 3-Year ROIIC % among Travel & Leisure companies is 3.94, based on 793 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Kawai Musical Instruments Manufacturing Co and its competitors. For the Travel & Leisure industry, the median 3-Year ROIIC % is 3.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kawai Musical Instruments Manufacturing Co's current 3-Year ROIIC % is -17.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kawai Musical Instruments Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Kawai Musical Instruments Manufacturing Co (TSE:7952) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,725.69, compared to a current price of 円3,265.00 — trading 19.8% above its estimated fair value. The current 3-Year ROIIC % is -17.46. Kawai Musical Instruments Manufacturing Co's overall GF Score™ is 64/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Kawai Musical Instruments Manufacturing Co (TSE:7952), the current 3-Year ROIIC % is -17.46 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kawai Musical Instruments Manufacturing Co (TSE:7952) Overvalued in 2026?
Based on GuruFocus' analysis, Kawai Musical Instruments Manufacturing Co stock appears to be overvalued.
The current stock price of 円3,265.00 is trading 19.8% above its estimated GF Value™ of 円2,725.69.
GuruFocus considers Kawai Musical Instruments Manufacturing Co to be Modestly Overvalued.
Key valuation signals for TSE:7952:
3-Year ROIIC %: -17.46
GF Value™: 円2,725.69 vs. price of 円3,265.00 (19.8% above fair value)
No single metric tells the full story. See the TSE:7952 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kawai Musical Instruments Manufacturing Co Business Description
Kawai Musical Instruments Manufacturing Co Ltd is a Japan-based musical instrument manufacturer. The company is mainly engaged in manufacturing and sales of musical instruments, precision metals, wood products, and electronic devices. Products offered by the company include grand pianos, upright pianos, digital pianos, hybrid pianos, and anytime pianos. It sells its products under the brand name Philosophy, Legacy, Artists, Competitions, and Institutions. Kawai has world-wide sales networks, it distributes its products in Europe, America, Asia and Oceania, Africa and the Middle East. The company is also engaged in the development and sales of software and operations of music schools, and gymnastics schools.
64GF Score
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