Adtran Networks SEADVOF 55 ROC (Joel Greenblatt) % is 6.23% as of Dec. 2025, which is 49% below its 10-year median of 12.11. GuruFocus rates ADVOF with a GF Score™ of 55/100 and a GF Value™ of $21.22. The stock has 4 warning signs investors should review. Among 2,493 Hardware companies, Adtran Networks SE ranks worse than 73.73% 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. Adtran Networks SE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.23%.
The historical rank and industry rank for Adtran Networks SE's ROC (Joel Greenblatt) % or its related term are showing as below:
ADVOF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -18.12 Med: 12.11 Max: 39.87
Current: -4.73
During the past 13 years, Adtran Networks SE's highest ROC (Joel Greenblatt) % was 39.87%. The lowest was -18.12%. And the median was 12.11%.
ADVOF's ROC (Joel Greenblatt) % is ranked worse than 73.73% of 2493
companies
in the Hardware industry
Industry Median: 10.35
vs ADVOF: -4.73
Adtran Networks SE's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Adtran Networks SE (OTCPK:ADVOF) 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.
Adtran Networks SE ROC (Joel Greenblatt) % Related Terms
Adtran Networks SE ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Adtran Networks SE's ROC (Joel Greenblatt) % 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.
ADVOF vs CSCO, CIEN, MSI: ROC (Joel Greenblatt) % Comparison
For the Communication Equipment subindustry, Adtran Networks SE'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.
Adtran Networks SE ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Adtran Networks SE's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Adtran Networks SE's ROC (Joel Greenblatt) % falls into.
Adtran Networks SE 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 two times the semi-annual (Dec. 2025) 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 6.23% mean?
Adtran Networks SE (ADVOF) has a ROC (Joel Greenblatt) % of 6.23% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Adtran Networks SE and its competitors. This is 49% below median its historical median of 12.11. According to the industry distribution chart, Adtran Networks SE ranks #1838 out of 2493 companies in the Hardware industry, placing it in the top 73.7%.
Is Adtran Networks SE's ROC (Joel Greenblatt) % too high?
Adtran Networks SE's current ROC (Joel Greenblatt) % of 6.23% is 49% below median its 10-year median of 12.11. The Hardware industry median ROC (Joel Greenblatt) % is 10.35. Adtran Networks SE's value of 6.23% is 39.8% below this industry median. Based on the distribution chart, Adtran Networks SE ranks #1838 out of 2493 companies in the Hardware industry, which is below the industry midpoint. Overall, Adtran Networks SE has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Adtran Networks SE's ROC (Joel Greenblatt) % compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Adtran Networks SE ranks #1838 out of 2493 companies for ROC (Joel Greenblatt) %. This places Adtran Networks SE in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.35. Adtran Networks SE's value of 6.23% is 39.8% below this benchmark. While the company's 10-year median is 12.11 vs. the industry median of 10.35, Adtran Networks SE has consistently been below 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 10.35, based on 2,493 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. Adtran Networks SE's current ROC (Joel Greenblatt) % of 6.23% is 39.8% below 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 Adtran Networks SE and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adtran Networks SE's current ROC (Joel Greenblatt) % is 6.23%, which is 49% below median its own 10-year median of 12.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adtran Networks SE stock overvalued right now?
Adtran Networks SE (ADVOF) has a current ROC (Joel Greenblatt) % of 6.23%. The stock's GF Value™ is $21.22, compared to a current price of $24.19 — trading 14% above its estimated fair value. The current ROC (Joel Greenblatt) % is 6.23%, which is 49% below median its 10-year median of 12.11 and 39.8% below the Hardware industry median of 10.35. Adtran Networks SE's overall GF Score™ is 55/100 with 4 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 Adtran Networks SE (ADVOF), the current ROC (Joel Greenblatt) % is 6.23% 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 Adtran Networks SE (ADVOF) Overvalued in 2026?
Based on GuruFocus' analysis, Adtran Networks SE stock appears to be overvalued.
The current stock price of $24.19 is trading 14% above its estimated GF Value™ of $21.22.
Key valuation signals for ADVOF:
ROC (Joel Greenblatt) %: 6.23% (49% below median its 10-year median of 12.11)
GF Value™: $21.22 vs. price of $24.19 (14% above fair value)
Industry Position: 39.8% below the Hardware median (#1838 of 2493)
No single metric tells the full story. See the ADVOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adtran Networks SE develops, manufactures, and sells optical and Ethernet-based networking solutions to telecommunications carriers and enterprises to deliver data, storage, voice, and video services. Company segment includes: Network Solutions; and Services and Support,These systems are used by telecommunications service providers, private companies, universities, and government agencies. Some of its product categories are Open optical transport, Packet edge and aggregation, Disaggregated networking, Network virtualization, Network infrastructure assurance, and Automated network management. ADVA's geographical segments are United States, United Kingdom, Germany and Other international generating key revenue from United States.
55GF Score
Get the complete analysis for ADVOF
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ADVOF has been successfully added to your 
