ObjectiveASX:OCL -1.02%92 ROC (Joel Greenblatt) % is 418.91% as of Dec. 2025, which is 121% above its 10-year median of 189.87. GuruFocus rates ASX:OCL with a GF Score™ of 92/100 and a GF Value™ of A$16.52 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 2,799 Software companies, Objective ranks better than 91.21% 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. Objective's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 418.91%.
The historical rank and industry rank for Objective's ROC (Joel Greenblatt) % or its related term are showing as below:
ASX:OCL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 98.31 Med: 189.87 Max: 722.29
Current: 382.13
During the past 13 years, Objective's highest ROC (Joel Greenblatt) % was 722.29%. The lowest was 98.31%. And the median was 189.87%.
ASX:OCL's ROC (Joel Greenblatt) % is ranked better than 91.21% of 2799
companies
in the Software industry
Industry Median: 19.62
vs ASX:OCL: 382.13
Objective's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 23.80% 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.
The historical data trend for Objective'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:OCL vs UBER, SHOP, CRM: ROC (Joel Greenblatt) % Comparison
For the Software - Application subindustry, Objective'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.
Objective ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Objective's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Objective'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 418.91% mean?
Objective (ASX:OCL) has a ROC (Joel Greenblatt) % of 418.91% 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 Objective and its competitors. This is 121% above median its historical median of 189.87. Over the past decade, Objective's ROC (Joel Greenblatt) % has ranged from 98.31 to 722.29. According to the industry distribution chart, Objective ranks #246 out of 2799 companies in the Software industry, placing it in the top 8.8%.
Is Objective's ROC (Joel Greenblatt) % too high?
Objective's current ROC (Joel Greenblatt) % of 418.91% is 121% above median its 10-year median of 189.87. Over the past 10 years, this metric has ranged from a low of 98.31 to a high of 722.29. The Software industry median ROC (Joel Greenblatt) % is 19.62. Objective's value of 418.91% is 2035.1% above this industry median. Based on the distribution chart, Objective ranks #246 out of 2799 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Objective has a GF Score™ of 92/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Objective's ROC (Joel Greenblatt) % compare to UBER and SHOP?
According to the Software industry distribution chart, Objective ranks #246 out of 2799 companies for ROC (Joel Greenblatt) %. This places Objective in the top 9% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.62. Objective's value of 418.91% is 2035.1% above this benchmark. Historically, Objective's own ROC (Joel Greenblatt) % has ranged from 98.31 to 722.29 over the past decade. While the company's 10-year median is 189.87 vs. the industry median of 19.62, Objective 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.62, based on 2,799 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. Objective's current ROC (Joel Greenblatt) % of 418.91% is 2035.1% 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 Objective and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Objective's current ROC (Joel Greenblatt) % is 418.91%, which is 121% above median its own 10-year median of 189.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Objective stock overvalued right now?
Based on GuruFocus' analysis, Objective (ASX:OCL) is currently considered Significantly Undervalued. The stock's GF Value™ is A$16.52, compared to a current price of A$6.78 — trading 59% below its estimated fair value. The current ROC (Joel Greenblatt) % is 418.91%, which is 121% above median its 10-year median of 189.87 and 2035.1% above the Software industry median of 19.62. Objective's overall GF Score™ is 92/100 with 2 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 Objective (ASX:OCL), the current ROC (Joel Greenblatt) % is 418.91% 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 Objective (ASX:OCL) Overvalued in 2026?
Based on GuruFocus' analysis, Objective stock appears to be undervalued.
The current stock price of A$6.78 is trading 59% below its estimated GF Value™ of A$16.52.
GuruFocus considers Objective to be Significantly Undervalued.
Key valuation signals for ASX:OCL:
ROC (Joel Greenblatt) %: 418.91% (121% above median its 10-year median of 189.87)
GF Value™: A$16.52 vs. price of A$6.78 (59% below fair value)
Industry Position: 2035.1% above the Software median (#246 of 2799)
No single metric tells the full story. See the ASX:OCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Objective is a founder-led technology company providing software and services for compliance with government regulations. Objective's primary business is its content management software for the Australian public sector, which ensures government information can be gathered, located, accessed, supplemented, authored, collaborated on, signed off on, and shared in a compliant manner. Objective also offers products which encompass industry-specific applications of enterprise content management software, such as for assessing building development applications, compiling new regulations and providing ministerial briefs.
92GF Score
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