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. Apiam Animal Health's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2025 was 17.36%.
The historical rank and industry rank for Apiam Animal Health's ROC (Joel Greenblatt) % or its related term are showing as below:
ASX:AHX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.31 Med: 23 Max: 46.95
Current: 13.17
During the past 10 years, Apiam Animal Health's highest ROC (Joel Greenblatt) % was 46.95%. The lowest was 12.31%. And the median was 23.00%.
ASX:AHX's ROC (Joel Greenblatt) % is not ranked
in the Personal Services industry.
Industry Median: 12.2
vs ASX:AHX: 13.17
Apiam Animal Health's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -11.80% per year.
Apiam Animal Health (ASX:AHX) 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.
Apiam Animal Health ROC (Joel Greenblatt) % Related Terms
Apiam Animal Health ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Apiam Animal Health'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.
ASX:AHX vs ROL, SCI, BFAM: ROC (Joel Greenblatt) % Comparison
For the Personal Services subindustry, Apiam Animal Health'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.
Apiam Animal Health ROC (Joel Greenblatt) % vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Apiam Animal Health's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Apiam Animal Health's ROC (Joel Greenblatt) % falls into.
Apiam Animal Health 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 (Jun. 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 17.36% mean?
Apiam Animal Health (ASX:AHX) has a ROC (Joel Greenblatt) % of 17.36% as of Jun. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Apiam Animal Health and its competitors. This is 25% below median its historical median of 23.00. Over the past decade, Apiam Animal Health's ROC (Joel Greenblatt) % has ranged from 12.31 to 46.95.
Is Apiam Animal Health's ROC (Joel Greenblatt) % too high?
Apiam Animal Health's current ROC (Joel Greenblatt) % of 17.36% is 25% below median its 10-year median of 23.00. Over the past 10 years, this metric has ranged from a low of 12.31 to a high of 46.95. The Personal Services industry median ROC (Joel Greenblatt) % is 12.20. Apiam Animal Health's value of 17.36% is 42.3% above this industry median. Overall, Apiam Animal Health has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does Apiam Animal Health's ROC (Joel Greenblatt) % compare to ROL and SCI?
Apiam Animal Health's ROC (Joel Greenblatt) % of 17.36% can be compared against companies in the Personal Services industry. The industry median ROC (Joel Greenblatt) % is 12.20. Apiam Animal Health's value of 17.36% is 42.3% above this benchmark. Historically, Apiam Animal Health's own ROC (Joel Greenblatt) % has ranged from 12.31 to 46.95 over the past decade. While the company's 10-year median is 23.00 vs. the industry median of 12.20, Apiam Animal Health 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 Personal Services company?
The median ROC (Joel Greenblatt) % among Personal Services companies is 12.20, based on 96 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. Apiam Animal Health's current ROC (Joel Greenblatt) % of 17.36% is 42.3% 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 Apiam Animal Health and its competitors. For the Personal Services industry, the median ROC (Joel Greenblatt) % is 12.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apiam Animal Health's current ROC (Joel Greenblatt) % is 17.36%, which is 25% below median its own 10-year median of 23.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apiam Animal Health stock overvalued right now?
Apiam Animal Health (ASX:AHX) has a current ROC (Joel Greenblatt) % of 17.36%. The stock's GF Value™ is A$0.40, compared to a current price of A$0.88 — trading 118.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 17.36%, which is 25% below median its 10-year median of 23.00 and 42.3% above the Personal Services industry median of 12.20. Apiam Animal Health's overall GF Score™ is 50/100 with 9 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 Apiam Animal Health (ASX:AHX), the current ROC (Joel Greenblatt) % is 17.36% as of Jun. 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 Apiam Animal Health (ASX:AHX) Overvalued in 2026?
Based on GuruFocus' analysis, Apiam Animal Health stock appears to be overvalued.
The current stock price of A$0.88 is trading 118.8% above its estimated GF Value™ of A$0.40.
Key valuation signals for ASX:AHX:
ROC (Joel Greenblatt) %: 17.36% (25% below median its 10-year median of 23.00)
GF Value™: A$0.40 vs. price of A$0.88 (118.8% above fair value)
Industry Position: 42.3% above the Personal Services median
No single metric tells the full story. See the ASX:AHX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apiam Animal Health Ltd provides products and services to support the health and welfare of production and mixed animals. The company offers veterinary wholesale, warehousing, logistics, and other ancillary services. Its operating segments include Dairy and Mixed, Feedlots and Pigs. It generates the majority of its revenue from Dairy and Mixed. The Group operates in the segment of provision of veterinary products and services to production, companion and equine animals.
50GF Score
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