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Macquarie GroupASX:MQG +0.65%75 ROC (Joel Greenblatt) % is 70.94% as of Mar. 2026, which is 27% above its 10-year median of 56.04. GuruFocus rates ASX:MQG with a GF Score™ of 75/100 and a GF Value™ of A$331.80 (Modestly Undervalued). The stock has 10 warning signs investors should review. Among 677 Capital Markets companies, Macquarie Group ranks better than 56.87% 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. Macquarie Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 70.94%.
The historical rank and industry rank for Macquarie Group's ROC (Joel Greenblatt) % or its related term are showing as below:
ASX:MQG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 25.71 Med: 56.04 Max: 193.62
Current: 59.84
During the past 13 years, Macquarie Group's highest ROC (Joel Greenblatt) % was 193.62%. The lowest was 25.71%. And the median was 56.04%.
ASX:MQG's ROC (Joel Greenblatt) % is ranked better than 56.87% of 677
companies
in the Capital Markets industry
Industry Median: 35.1
vs ASX:MQG: 59.84
Macquarie Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.70% per year.
Macquarie Group (ASX:MQG) 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.
Macquarie Group ROC (Joel Greenblatt) % Related Terms
Macquarie Group ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Macquarie Group'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:MQG vs MS, GS, SCHW: ROC (Joel Greenblatt) % Comparison
For the Capital Markets subindustry, Macquarie Group'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.
Macquarie Group ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Macquarie Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Macquarie Group's ROC (Joel Greenblatt) % falls into.
Macquarie Group 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 (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 70.94% mean?
Macquarie Group (ASX:MQG) has a ROC (Joel Greenblatt) % of 70.94% 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 Macquarie Group and its competitors. This is 27% above median its historical median of 56.04. Over the past decade, Macquarie Group's ROC (Joel Greenblatt) % has ranged from 25.71 to 193.62. According to the industry distribution chart, Macquarie Group ranks #292 out of 677 companies in the Capital Markets industry, placing it in the top 43.1%.
Is Macquarie Group's ROC (Joel Greenblatt) % too high?
Macquarie Group's current ROC (Joel Greenblatt) % of 70.94% is 27% above median its 10-year median of 56.04. Over the past 10 years, this metric has ranged from a low of 25.71 to a high of 193.62. The Capital Markets industry median ROC (Joel Greenblatt) % is 35.10. Macquarie Group's value of 70.94% is 102.1% above this industry median. Based on the distribution chart, Macquarie Group ranks #292 out of 677 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Macquarie Group has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Macquarie Group's ROC (Joel Greenblatt) % compare to MS and GS?
According to the Capital Markets industry distribution chart, Macquarie Group ranks #292 out of 677 companies for ROC (Joel Greenblatt) %. This puts Macquarie Group in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 35.10. Macquarie Group's value of 70.94% is 102.1% above this benchmark. Historically, Macquarie Group's own ROC (Joel Greenblatt) % has ranged from 25.71 to 193.62 over the past decade. While the company's 10-year median is 56.04 vs. the industry median of 35.10, Macquarie Group 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 35.10, based on 677 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. Macquarie Group's current ROC (Joel Greenblatt) % of 70.94% is 102.1% 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 Macquarie Group and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 35.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Macquarie Group's current ROC (Joel Greenblatt) % is 70.94%, which is 27% above median its own 10-year median of 56.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Macquarie Group stock overvalued right now?
Based on GuruFocus' analysis, Macquarie Group (ASX:MQG) is currently considered Modestly Undervalued. The stock's GF Value™ is A$331.80, compared to a current price of A$258.41 — trading 22.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 70.94%, which is 27% above median its 10-year median of 56.04 and 102.1% above the Capital Markets industry median of 35.10. Macquarie Group's overall GF Score™ is 75/100 with 10 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 Macquarie Group (ASX:MQG), the current ROC (Joel Greenblatt) % is 70.94% 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 Macquarie Group (ASX:MQG) Overvalued in 2026?
Based on GuruFocus' analysis, Macquarie Group stock appears to be undervalued.
The current stock price of A$258.41 is trading 22.1% below its estimated GF Value™ of A$331.80.
GuruFocus considers Macquarie Group to be Modestly Undervalued.
Key valuation signals for ASX:MQG:
ROC (Joel Greenblatt) %: 70.94% (27% above median its 10-year median of 56.04)
GF Value™: A$331.80 vs. price of A$258.41 (22.1% below fair value)
Industry Position: 102.1% above the Capital Markets median (#292 of 677)
No single metric tells the full story. See the ASX:MQG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Macquarie Group began trading in 1969 as Hill Samuel Australia, obtained its bank licence in 1985, and listed in 1996. It's Australia's only sizable listed investment bank, now internationally diversified, operating in asset management, banking and wealth, risk and capital solutions, and advisory.
75GF Score
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