Evolution MiningASX:EVN +3.38%93 ROC (Joel Greenblatt) % is 30.71% as of Dec. 2025, which is 142% above its 10-year median of 12.68. GuruFocus rates ASX:EVN with a GF Score™ of 93/100 and a GF Value™ of A$8.27 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,498 Metals & Mining companies, Evolution Mining ranks better than 89.35% 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. Evolution Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 30.71%.
The historical rank and industry rank for Evolution Mining's ROC (Joel Greenblatt) % or its related term are showing as below:
ASX:EVN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.42 Med: 12.68 Max: 26.62
Current: 26.62
During the past 13 years, Evolution Mining's highest ROC (Joel Greenblatt) % was 26.62%. The lowest was 1.42%. And the median was 12.68%.
ASX:EVN's ROC (Joel Greenblatt) % is ranked better than 89.35% of 2498
companies
in the Metals & Mining industry
Industry Median: -22.435
vs ASX:EVN: 26.62
Evolution Mining's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.20% per year.
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.
Evolution Mining ROC (Joel Greenblatt) % Related Terms
Evolution Mining ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Evolution Mining'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:EVN vs NEM, AU: ROC (Joel Greenblatt) % Comparison
For the Gold subindustry, Evolution Mining'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.
Evolution Mining ROC (Joel Greenblatt) % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Evolution Mining's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Evolution Mining's ROC (Joel Greenblatt) % falls into.
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 30.71% mean?
Evolution Mining (ASX:EVN) has a ROC (Joel Greenblatt) % of 30.71% 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 Evolution Mining and its competitors. This is 142% above median its historical median of 12.68. Over the past decade, Evolution Mining's ROC (Joel Greenblatt) % has ranged from 1.42 to 26.62. According to the industry distribution chart, Evolution Mining ranks #266 out of 2498 companies in the Metals & Mining industry, placing it in the top 10.6%.
Is Evolution Mining's ROC (Joel Greenblatt) % too high?
Evolution Mining's current ROC (Joel Greenblatt) % of 30.71% is 142% above median its 10-year median of 12.68. Over the past 10 years, this metric has ranged from a low of 1.42 to a high of 26.62. Based on the distribution chart, Evolution Mining ranks #266 out of 2498 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Evolution Mining has a GF Score™ of 93/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Evolution Mining's ROC (Joel Greenblatt) % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Evolution Mining ranks #266 out of 2498 companies for ROC (Joel Greenblatt) %. This places Evolution Mining in the top 11% of its industry — outperforming the majority of peers. Historically, Evolution Mining's own ROC (Joel Greenblatt) % has ranged from 1.42 to 26.62 over the past decade. 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 Metals & Mining company?
A good ROC (Joel Greenblatt) % depends on the Metals & Mining industry context. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Evolution Mining and its competitors. Evolution Mining's current ROC (Joel Greenblatt) % is 30.71%, which is 142% above median its own 10-year median of 12.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Evolution Mining stock overvalued right now?
Based on GuruFocus' analysis, Evolution Mining (ASX:EVN) is currently considered Significantly Overvalued. The stock's GF Value™ is A$8.27, compared to a current price of A$11.63 — trading 40.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 30.71%, which is 142% above median its 10-year median of 12.68. Evolution Mining's overall GF Score™ is 93/100 with 1 warning sign 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 Evolution Mining (ASX:EVN), the current ROC (Joel Greenblatt) % is 30.71% 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 Evolution Mining (ASX:EVN) Overvalued in 2026?
Based on GuruFocus' analysis, Evolution Mining stock appears to be overvalued.
The current stock price of A$11.63 is trading 40.6% above its estimated GF Value™ of A$8.27.
GuruFocus considers Evolution Mining to be Significantly Overvalued.
Key valuation signals for ASX:EVN:
ROC (Joel Greenblatt) %: 30.71% (142% above median its 10-year median of 12.68)
GF Value™: A$8.27 vs. price of A$11.63 (40.6% above fair value)
No single metric tells the full story. See the ASX:EVN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Evolution Mining is an Australia-based gold miner. It sold around 750,000 ounces of gold in fiscal 2025 from six wholly or majority owned mines in Australia and Canada. Formed in 2011 via the merger of Conquest Mining and Catalpa Resources and the purchase of Newcrest Mining's Mt Rawdon and Cracow mines, Evolution has acquired more mines and sold the generally less attractive, higher-cost mines. Cowal and Mungari were purchased in 2015, with an initial interest in Glencore's Ernest Henry mine following in 2016, Red Lake in Canada in 2020, the rest of Ernest Henry in 2022 and an 80% stake in the Northparkes copper and gold mine in December 2023. It had roughly 15 years of gold reserves and two decades of copper reserves at the end of December 2024.
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