Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Toyo Securities CoTSE:8614 -0.60%66 3-Year ROIIC % is 45.86 as of Mar. 2026, which is 149% above its 10-year median of 18.45. GuruFocus rates TSE:8614 with a GF Score™ of 66/100 and a GF Value™ of 円671.60 (Fairly Valued). The stock has 2 warning signs investors should review. Among 657 Capital Markets companies, Toyo Securities Co ranks better than 85.84% on this metric.
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.
Toyo Securities Co's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 45.86%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Toyo Securities Co's 3-Year ROIIC % or its related term are showing as below:
TSE:8614's 3-Year ROIIC % is ranked better than 85.84% of 657
companies
in the Capital Markets industry
Industry Median: 2.6
vs TSE:8614: 45.86
Toyo Securities Co (TSE:8614) 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.
Toyo Securities Co 3-Year ROIIC % Related Terms
Toyo Securities Co 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Toyo Securities Co's 3-Year ROIIC % can be seen below:
* 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.
TSE:8614 vs MS, GS, SCHW: 3-Year ROIIC % Comparison
For the Capital Markets subindustry, Toyo Securities 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.
Toyo Securities Co 3-Year ROIIC % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Toyo Securities Co's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Toyo Securities Co's 3-Year ROIIC % falls into.
Toyo Securities Co's 3-Year ROIIC % for the quarter that ended in Mar. 2026 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 2367.6996 (Mar. 2026) - -2164 (Mar. 2023) )
/
( 51805 (Mar. 2026) - 41923 (Mar. 2023) )
=
4531.6996
/
9882
=
45.86%***
* 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.
Toyo Securities Co (TSE:8614) has a 3-Year ROIIC % of 45.86 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 Toyo Securities Co and its competitors. This is 149% above median its historical median of 18.45. According to the industry distribution chart, Toyo Securities Co ranks #93 out of 657 companies in the Capital Markets industry, placing it in the top 14.2%.
Is Toyo Securities Co's 3-Year ROIIC % too high?
Toyo Securities Co's current 3-Year ROIIC % of 45.86 is 149% above median its 10-year median of 18.45. The Capital Markets industry median 3-Year ROIIC % is 2.60. Toyo Securities Co's value of 45.86 is 1663.8% above this industry median. Based on the distribution chart, Toyo Securities Co ranks #93 out of 657 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Toyo Securities Co has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Toyo Securities Co's 3-Year ROIIC % compare to MS and GS?
According to the Capital Markets industry distribution chart, Toyo Securities Co ranks #93 out of 657 companies for 3-Year ROIIC %. This places Toyo Securities Co in the top 14% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 2.60. Toyo Securities Co's value of 45.86 is 1663.8% above this benchmark. While the company's 10-year median is 18.45 vs. the industry median of 2.60, Toyo Securities Co has consistently been above the industry average. 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 Capital Markets company?
The median 3-Year ROIIC % among Capital Markets companies is 2.60, based on 657 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. Toyo Securities Co's current 3-Year ROIIC % of 45.86 is 1663.8% above the industry median. 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 Toyo Securities Co and its competitors. For the Capital Markets industry, the median 3-Year ROIIC % is 2.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toyo Securities Co's current 3-Year ROIIC % is 45.86, which is 149% above median its own 10-year median of 18.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toyo Securities Co stock overvalued right now?
Based on GuruFocus' analysis, Toyo Securities Co (TSE:8614) is currently considered Fairly Valued. The stock's GF Value™ is 円671.60, compared to a current price of 円660.00 — trading 1.7% below its estimated fair value. The current 3-Year ROIIC % is 45.86, which is 149% above median its 10-year median of 18.45 and 1663.8% above the Capital Markets industry median of 2.60. Toyo Securities Co's overall GF Score™ is 66/100 with 2 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 Toyo Securities Co (TSE:8614), the current 3-Year ROIIC % is 45.86 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 Toyo Securities Co (TSE:8614) Overvalued in 2026?
Based on GuruFocus' analysis, Toyo Securities Co stock appears to be undervalued.
The current stock price of 円660.00 is trading 1.7% below its estimated GF Value™ of 円671.60.
GuruFocus considers Toyo Securities Co to be Fairly Valued.
Key valuation signals for TSE:8614:
3-Year ROIIC %: 45.86 (149% above median its 10-year median of 18.45)
GF Value™: 円671.60 vs. price of 円660.00 (1.7% below fair value)
Industry Position: 1663.8% above the Capital Markets median (#93 of 657)
No single metric tells the full story. See the TSE:8614 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toyo Securities Co Ltd is a Japan-based company engaged in the securities business. The company provides the variety of financial services such as dealing, brokerage, underwriting, public offering and distribution of securities. In addition, it also offers asset management, advice and consultancy services, insurance products, as well as provision of internet and phone trading services.
66GF Score
Get the complete analysis for TSE:8614
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:8614 has been successfully added to your 
