American Public EducationAPEI -2.52%69 ROC (Joel Greenblatt) % is 59.04% as of Mar. 2026, which is 142% above its 10-year median of 24.38. GuruFocus rates APEI with a GF Scoreâ„¢ of 69/100 and a GF Valueâ„¢ of $20.40 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 263 Education companies, American Public Education ranks better than 68.44% 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. American Public Education's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 59.04%.
The historical rank and industry rank for American Public Education's ROC (Joel Greenblatt) % or its related term are showing as below:
APEI'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -62.4 Med: 24.38 Max: 47.33
Current: 36.09
During the past 13 years, American Public Education's highest ROC (Joel Greenblatt) % was 47.33%. The lowest was -62.40%. And the median was 24.38%.
APEI's ROC (Joel Greenblatt) % is ranked better than 68.44% of 263
companies
in the Education industry
Industry Median: 17.53
vs APEI: 36.09
American Public Education's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
American Public Education (NAS:APEI) 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.
American Public Education ROC (Joel Greenblatt) % Related Terms
American Public Education ROC (Joel Greenblatt) % Historical Data
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The historical data trend for American Public Education'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.
American Public Education ROC (Joel Greenblatt) % Chart
APEI vs PXED, DAO, AFYA: ROC (Joel Greenblatt) % Comparison
For the Education & Training Services subindustry, American Public Education'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.
American Public Education ROC (Joel Greenblatt) % vs Education Industry
For the Education industry and Consumer Defensive sector, American Public Education's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where American Public Education's ROC (Joel Greenblatt) % falls into.
American Public Education 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 59.04% mean?
American Public Education (APEI) has a ROC (Joel Greenblatt) % of 59.04% 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 American Public Education and its competitors. This is 142% above median its historical median of 24.38. According to the industry distribution chart, American Public Education ranks #83 out of 263 companies in the Education industry, placing it in the top 31.6%.
Is American Public Education's ROC (Joel Greenblatt) % too high?
American Public Education's current ROC (Joel Greenblatt) % of 59.04% is 142% above median its 10-year median of 24.38. The Education industry median ROC (Joel Greenblatt) % is 17.53. American Public Education's value of 59.04% is 236.8% above this industry median. Based on the distribution chart, American Public Education ranks #83 out of 263 companies in the Education industry, which is above the industry midpoint. Overall, American Public Education has a GF Scoreâ„¢ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does American Public Education's ROC (Joel Greenblatt) % compare to PXED and DAO?
According to the Education industry distribution chart, American Public Education ranks #83 out of 263 companies for ROC (Joel Greenblatt) %. This puts American Public Education in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 17.53. American Public Education's value of 59.04% is 236.8% above this benchmark. While the company's 10-year median is 24.38 vs. the industry median of 17.53, American Public Education 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 an Education company?
The median ROC (Joel Greenblatt) % among Education companies is 17.53, based on 263 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. American Public Education's current ROC (Joel Greenblatt) % of 59.04% is 236.8% 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 American Public Education and its competitors. For the Education industry, the median ROC (Joel Greenblatt) % is 17.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Public Education's current ROC (Joel Greenblatt) % is 59.04%, which is 142% above median its own 10-year median of 24.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Public Education stock overvalued right now?
Based on GuruFocus' analysis, American Public Education (APEI) is currently considered Significantly Overvalued. The stock's GF Value™ is $20.40, compared to a current price of $58.01 — trading 184.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 59.04%, which is 142% above median its 10-year median of 24.38 and 236.8% above the Education industry median of 17.53. American Public Education's overall GF Score™ is 69/100 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 American Public Education (APEI), the current ROC (Joel Greenblatt) % is 59.04% 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 American Public Education (APEI) Overvalued in 2026?
Based on GuruFocus' analysis, American Public Education stock appears to be overvalued.
The current stock price of $58.01 is trading 184.4% above its estimated GF Value™ of $20.40.
GuruFocus considers American Public Education to be Significantly Overvalued.
Key valuation signals for APEI:
ROC (Joel Greenblatt) %: 59.04% (142% above median its 10-year median of 24.38)
GF Value™: $20.40 vs. price of $58.01 (184.4% above fair value)
Industry Position: 236.8% above the Education median (#83 of 263)
No single metric tells the full story. See the APEI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Public Education Inc provides online and campus based postsecondary education including various undergraduate and graduate degree programs. The fields of study include business administration, health science, technology, criminal justice, education, liberal arts, national security, military studies, intelligence, and homeland security. There are three reporting segments: the American Public University segment which is the key revenue generator, provides online postsecondary education as a distance-learning, graduate-level institution for military officers seeking a degree in military studies; the Rasmussen University Segment and the Hondros College of Nursing segment. The revenue is generated from net course registrations and enrollment, tuition rate, net tuition, and other fees.
69GF Score
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