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.
IGB Commercial REITXKLS:5299 35 3-Year ROIIC % is 26.23 as of Dec. 2025, which is at its 10-year median of 26.23. GuruFocus rates XKLS:5299 with a GF Score™ of 35/100 and a GF Value™ of RM0.63 (Fairly Valued). The stock has 7 warning signs investors should review. Among 691 REITs companies, IGB Commercial REIT ranks better than 92.33% 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.
IGB Commercial REIT's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 26.23%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for IGB Commercial REIT's 3-Year ROIIC % or its related term are showing as below:
XKLS:5299's 3-Year ROIIC % is ranked better than 92.33% of 691
companies
in the REITs industry
Industry Median: 3.59
vs XKLS:5299: 26.23
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.
IGB Commercial REIT 3-Year ROIIC % Related Terms
IGB Commercial REIT 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for IGB Commercial REIT'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.
XKLS:5299 vs BXP, ARE, VNO: 3-Year ROIIC % Comparison
For the REIT - Office subindustry, IGB Commercial REIT'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.
IGB Commercial REIT 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, IGB Commercial REIT's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where IGB Commercial REIT's 3-Year ROIIC % falls into.
IGB Commercial REIT'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**
=
( 134.046 (Dec. 2025) - 97.169 (Dec. 2022) )
/
( 3390.456 (Dec. 2025) - 3249.842 (Dec. 2022) )
=
36.877
/
140.614
=
26.23%***
* 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.
IGB Commercial REIT (XKLS:5299) has a 3-Year ROIIC % of 26.23 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 IGB Commercial REIT and its competitors. This is near median its historical median of 26.23. Over the past decade, IGB Commercial REIT's 3-Year ROIIC % has ranged from 26.23 to 26.23. According to the industry distribution chart, IGB Commercial REIT ranks #53 out of 691 companies in the REITs industry, placing it in the top 7.7%.
Is IGB Commercial REIT's 3-Year ROIIC % too high?
IGB Commercial REIT's current 3-Year ROIIC % of 26.23 is near median its 10-year median of 26.23. Over the past 10 years, this metric has ranged from a low of 26.23 to a high of 26.23. The REITs industry median 3-Year ROIIC % is 3.59. IGB Commercial REIT's value of 26.23 is 630.6% above this industry median. Based on the distribution chart, IGB Commercial REIT ranks #53 out of 691 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, IGB Commercial REIT has a GF Score™ of 35/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does IGB Commercial REIT's 3-Year ROIIC % compare to BXP and ARE?
According to the REITs industry distribution chart, IGB Commercial REIT ranks #53 out of 691 companies for 3-Year ROIIC %. This places IGB Commercial REIT in the top 8% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.59. IGB Commercial REIT's value of 26.23 is 630.6% above this benchmark. Historically, IGB Commercial REIT's own 3-Year ROIIC % has ranged from 26.23 to 26.23 over the past decade. While the company's 10-year median is 26.23 vs. the industry median of 3.59, IGB Commercial REIT 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 REITs company?
The median 3-Year ROIIC % among REITs companies is 3.59, based on 691 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. IGB Commercial REIT's current 3-Year ROIIC % of 26.23 is 630.6% 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 IGB Commercial REIT and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IGB Commercial REIT's current 3-Year ROIIC % is 26.23, which is near median its own 10-year median of 26.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IGB Commercial REIT stock overvalued right now?
Based on GuruFocus' analysis, IGB Commercial REIT (XKLS:5299) is currently considered Fairly Valued. The stock's GF Value™ is RM0.63, compared to a current price of RM0.60 — trading 4.8% below its estimated fair value. The current 3-Year ROIIC % is 26.23, which is near median its 10-year median of 26.23 and 630.6% above the REITs industry median of 3.59. IGB Commercial REIT's overall GF Score™ is 35/100 with 7 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 IGB Commercial REIT (XKLS:5299), the current 3-Year ROIIC % is 26.23 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 IGB Commercial REIT (XKLS:5299) Overvalued in 2026?
Based on GuruFocus' analysis, IGB Commercial REIT stock appears to be undervalued.
The current stock price of RM0.60 is trading 4.8% below its estimated GF Value™ of RM0.63.
GuruFocus considers IGB Commercial REIT to be Fairly Valued.
Key valuation signals for XKLS:5299:
3-Year ROIIC %: 26.23 (near median its 10-year median of 26.23)
GF Value™: RM0.63 vs. price of RM0.60 (4.8% below fair value)
Industry Position: 630.6% above the REITs median (#53 of 691)
No single metric tells the full story. See the XKLS:5299 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IGB Commercial REIT is established to provide unitholders with regular and stable distributions, sustainable long-term unit price and distributable income and capital growth, and maintaining an appropriate capital structure, by investing directly and indirectly in a portfolio of income-producing real estate used predominantly for commercial purposes in Malaysia and overseas. The trust's investment portfolio mainly comprises commercial properties with office and retail spaces, and includes the Gardens South Tower, Centrepoint North, The Gardens North Tower, and other properties.
35GF Score
Get the complete analysis for XKLS:5299
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
XKLS:5299 has been successfully added to your 
