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.
Denison Mines's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -46.93%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Denison Mines's 3-Year ROIIC % or its related term are showing as below:
TSX:DML's 3-Year ROIIC % is ranked worse than 63.1% of 168
companies
in the Other Energy Sources industry
Industry Median: -20.045
vs TSX:DML: -46.93
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.
Denison Mines 3-Year ROIIC % Related Terms
Denison Mines 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Denison Mines'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.
For the Uranium subindustry, Denison Mines'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.
Denison Mines 3-Year ROIIC % vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Denison Mines's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Denison Mines's 3-Year ROIIC % falls into.
Denison Mines's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -83.4427552 (Dec. 2025) - -36.513 (Dec. 2022) )
/
( 556.76 (Dec. 2025) - 456.752 (Dec. 2022) )
=
-46.9297552
/
100.008
=
-46.93%***
* 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.
Denison Mines (TSX:DML) has a 3-Year ROIIC % of -46.93 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Denison Mines and its competitors. According to the industry distribution chart, Denison Mines ranks #106 out of 168 companies in the Other Energy Sources industry, placing it in the top 63.1%.
Is Denison Mines' 3-Year ROIIC % too high?
Denison Mines' current 3-Year ROIIC % is -46.93. Based on the distribution chart, Denison Mines ranks #106 out of 168 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, Denison Mines has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Denison Mines' 3-Year ROIIC % compare to UEC and LEU?
According to the Other Energy Sources industry distribution chart, Denison Mines ranks #106 out of 168 companies for 3-Year ROIIC %. This places Denison Mines in the lower half of its industry. 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 an Other Energy Sources company?
A good 3-Year ROIIC % depends on the Other Energy Sources industry context. 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 Denison Mines and its competitors. Denison Mines's current 3-Year ROIIC % is -46.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Denison Mines stock overvalued right now?
Based on GuruFocus' analysis, Denison Mines (TSX:DML) is currently considered Significantly Overvalued. The stock's GF Value™ is C$2.64, compared to a current price of C$4.47 — trading 69.3% above its estimated fair value. The current 3-Year ROIIC % is -46.93. Denison Mines' overall GF Score™ is 62/100 with 8 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 Denison Mines (TSX:DML), the current 3-Year ROIIC % is -46.93 as of Dec. 2025. 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 Denison Mines (TSX:DML) Overvalued in 2026?
Based on GuruFocus' analysis, Denison Mines stock appears to be overvalued.
The current stock price of C$4.47 is trading 69.3% above its estimated GF Value™ of C$2.64.
GuruFocus considers Denison Mines to be Significantly Overvalued.
Key valuation signals for TSX:DML:
3-Year ROIIC %: -46.93
GF Value™: C$2.64 vs. price of C$4.47 (69.3% above fair value)
No single metric tells the full story. See the TSX:DML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Denison Mines Corp is engaged in uranium mining-related activities, including the acquisition, exploration, development, and mining of uranium-bearing properties, as well as the processing, sale, and investment in uranium. The company's key properties include Wheeler River, Waterbury Lake, McClean Lake, Midwest, and others. It operates through two segments: the Mining segment and the Corporate and Other segment. The majority of the company's revenue is generated from the Mining segment, which includes activities related to exploration, evaluation, and development, mining, milling (including toll milling), and the sale of mineral concentrates.
62GF Score
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