Array Digital InfrastructureAD -0.30%66 ROC (Joel Greenblatt) % is 111.31% as of Mar. 2026, which is 1274% above its 10-year median of 8.10. GuruFocus rates AD with a GF Score™ of 66/100 and a GF Value™ of $64.11 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 366 Telecommunication Services companies, Array Digital Infrastructure ranks better than 64.75% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Array Digital Infrastructure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 111.31%.
The historical rank and industry rank for Array Digital Infrastructure's ROC (Joel Greenblatt) % or its related term are showing as below:
AD'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6.02 Med: 8.1 Max: 22.58
Current: 22.58
During the past 13 years, Array Digital Infrastructure's highest ROC (Joel Greenblatt) % was 22.58%. The lowest was -6.02%. And the median was 8.10%.
AD's ROC (Joel Greenblatt) % is ranked better than 64.75% of 366
companies
in the Telecommunication Services industry
Industry Median: 14.91
vs AD: 22.58
Array Digital Infrastructure (NYSE:AD) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* 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.
Array Digital Infrastructure ROC (Joel Greenblatt) % Chart
AD vs KYIV, LBTYA, TDS: ROC (Joel Greenblatt) % Comparison
For the Telecom Services subindustry, Array Digital Infrastructure's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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.
Array Digital Infrastructure ROC (Joel Greenblatt) % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Array Digital Infrastructure's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Array Digital Infrastructure's ROC (Joel Greenblatt) % falls into.
Array Digital Infrastructure ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.
What does a ROC (Joel Greenblatt) % of 111.31% mean?
Array Digital Infrastructure (AD) has a ROC (Joel Greenblatt) % of 111.31% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Array Digital Infrastructure and its competitors. This is 1274% above median its historical median of 8.10. According to the industry distribution chart, Array Digital Infrastructure ranks #129 out of 366 companies in the Telecommunication Services industry, placing it in the top 35.2%.
Is Array Digital Infrastructure's ROC (Joel Greenblatt) % too high?
Array Digital Infrastructure's current ROC (Joel Greenblatt) % of 111.31% is 1274% above median its 10-year median of 8.10. The Telecommunication Services industry median ROC (Joel Greenblatt) % is 14.91. Array Digital Infrastructure's value of 111.31% is 646.5% above this industry median. Based on the distribution chart, Array Digital Infrastructure ranks #129 out of 366 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Array Digital Infrastructure has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Array Digital Infrastructure's ROC (Joel Greenblatt) % compare to KYIV and LBTYA?
According to the Telecommunication Services industry distribution chart, Array Digital Infrastructure ranks #129 out of 366 companies for ROC (Joel Greenblatt) %. This puts Array Digital Infrastructure in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 14.91. Array Digital Infrastructure's value of 111.31% is 646.5% above this benchmark. While the company's 10-year median is 8.10 vs. the industry median of 14.91, Array Digital Infrastructure 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 ROC (Joel Greenblatt) % for a Telecommunication Services company?
The median ROC (Joel Greenblatt) % among Telecommunication Services companies is 14.91, based on 366 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Array Digital Infrastructure's current ROC (Joel Greenblatt) % of 111.31% is 646.5% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Array Digital Infrastructure and its competitors. For the Telecommunication Services industry, the median ROC (Joel Greenblatt) % is 14.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Array Digital Infrastructure's current ROC (Joel Greenblatt) % is 111.31%, which is 1274% above median its own 10-year median of 8.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Array Digital Infrastructure stock overvalued right now?
Based on GuruFocus' analysis, Array Digital Infrastructure (AD) is currently considered Possible Value Trap. The stock's GF Value™ is $64.11, compared to a current price of $36.26 — trading 43.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 111.31%, which is 1274% above median its 10-year median of 8.10 and 646.5% above the Telecommunication Services industry median of 14.91. Array Digital Infrastructure's overall GF Score™ is 66/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Array Digital Infrastructure (AD), the current ROC (Joel Greenblatt) % is 111.31% 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 Array Digital Infrastructure (AD) Overvalued in 2026?
Based on GuruFocus' analysis, Array Digital Infrastructure stock appears to be undervalued.
The current stock price of $36.26 is trading 43.4% below its estimated GF Value™ of $64.11.
GuruFocus considers Array Digital Infrastructure to be Possible Value Trap.
Key valuation signals for AD:
ROC (Joel Greenblatt) %: 111.31% (1274% above median its 10-year median of 8.10)
GF Value™: $64.11 vs. price of $36.26 (43.4% below fair value)
Industry Position: 646.5% above the Telecommunication Services median (#129 of 366)
No single metric tells the full story. See the AD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Array Digital Infrastructure, formerly US Cellular, sold its regional wireless operations serving about 4.4 million customers to T-Mobile in August 2025. The firm has agreed to sell most of its remaining spectrum licenses; however, it will still retain rights to C-band spectrum in several locations after these deals are closed. Array also owns a 5.5% stake in Verizon Wireless' Los Angeles operations, as well as other smaller wireless partnership interests in Oklahoma and upstate New York. The firm still operates a portfolio of about 4,400 wireless towers. Parent TDS has proposed to acquire the portion of Array that it doesn't already own in an all-stock transaction.
66GF Score
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