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Lundin MiningTSX:LUN -1.28%71 3-Year ROIIC % is 32.99 as of Dec. 2025, which is 799% above its 10-year median of 3.67. GuruFocus rates TSX:LUN with a GF Score™ of 71/100 and a GF Value™ of C$17.62 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,303 Metals & Mining companies, Lundin Mining ranks better than 78.81% 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.
Lundin Mining's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 32.99%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Lundin Mining's 3-Year ROIIC % or its related term are showing as below:
TSX:LUN's 3-Year ROIIC % is ranked better than 78.81% of 2303
companies
in the Metals & Mining industry
Industry Median: -2.54
vs TSX:LUN: 32.99
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.
Lundin Mining 3-Year ROIIC % Related Terms
Lundin Mining 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Lundin Mining'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 Copper subindustry, Lundin Mining'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.
Lundin Mining 3-Year ROIIC % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Lundin Mining's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Lundin Mining's 3-Year ROIIC % falls into.
Lundin Mining'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**
=
( 1759 (Dec. 2025) - 578.9835828 (Dec. 2022) )
/
( 13756.236 (Dec. 2025) - 10178.853 (Dec. 2022) )
=
1180.0164172
/
3577.383
=
32.99%***
* 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.
Lundin Mining (TSX:LUN) has a 3-Year ROIIC % of 32.99 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 Lundin Mining and its competitors. This is 799% above median its historical median of 3.67. According to the industry distribution chart, Lundin Mining ranks #488 out of 2303 companies in the Metals & Mining industry, placing it in the top 21.2%.
Is Lundin Mining's 3-Year ROIIC % too high?
Lundin Mining's current 3-Year ROIIC % of 32.99 is 799% above median its 10-year median of 3.67. Based on the distribution chart, Lundin Mining ranks #488 out of 2303 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Lundin Mining has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lundin Mining's 3-Year ROIIC % compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, Lundin Mining ranks #488 out of 2303 companies for 3-Year ROIIC %. This places Lundin Mining in the top 21% of its industry — outperforming the majority of peers. 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 Metals & Mining company?
A good 3-Year ROIIC % depends on the Metals & Mining 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 Lundin Mining and its competitors. Lundin Mining's current 3-Year ROIIC % is 32.99, which is 799% above median its own 10-year median of 3.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lundin Mining stock overvalued right now?
Based on GuruFocus' analysis, Lundin Mining (TSX:LUN) is currently considered Significantly Overvalued. The stock's GF Value™ is C$17.62, compared to a current price of C$33.16 — trading 88.2% above its estimated fair value. The current 3-Year ROIIC % is 32.99, which is 799% above median its 10-year median of 3.67. Lundin Mining's overall GF Score™ is 71/100 with 3 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 Lundin Mining (TSX:LUN), the current 3-Year ROIIC % is 32.99 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 Lundin Mining (TSX:LUN) Overvalued in 2026?
Based on GuruFocus' analysis, Lundin Mining stock appears to be overvalued.
The current stock price of C$33.16 is trading 88.2% above its estimated GF Value™ of C$17.62.
GuruFocus considers Lundin Mining to be Significantly Overvalued.
Key valuation signals for TSX:LUN:
3-Year ROIIC %: 32.99 (799% above median its 10-year median of 3.67)
GF Value™: C$17.62 vs. price of C$33.16 (88.2% above fair value)
No single metric tells the full story. See the TSX:LUN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lundin Mining Corp is adiversified Canadian base metals mining company primarily producing copper and gold with operations in Brazil, Chile, Portugal, Sweden, and the United States of America, producing copper, zinc, gold, and nickel. Its material mineral properties include Candelaria, Chapada, and Caserones. The majority of the revenue is from Copper.
71GF Score
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