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. Vulcan Energy Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -22.24%.
The historical rank and industry rank for Vulcan Energy Resources's ROC (Joel Greenblatt) % or its related term are showing as below:
ASX:VUL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -236.09 Med: -55.62 Max: -21.87
Current: -22.12
During the past 7 years, Vulcan Energy Resources's highest ROC (Joel Greenblatt) % was -21.87%. The lowest was -236.09%. And the median was -55.62%.
ASX:VUL's ROC (Joel Greenblatt) % is ranked worse than 50.04% of 2502
companies
in the Metals & Mining industry
Industry Median: -22.105
vs ASX:VUL: -22.12
Vulcan Energy Resources's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 38.10% per year.
Vulcan Energy Resources (ASX:VUL) 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.
Vulcan Energy Resources ROC (Joel Greenblatt) % Related Terms
Vulcan Energy Resources ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Vulcan Energy Resources'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.
Vulcan Energy Resources ROC (Joel Greenblatt) % Chart
Vulcan Energy Resources ROC (Joel Greenblatt) % Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Vulcan Energy Resources'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.
Vulcan Energy Resources ROC (Joel Greenblatt) % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vulcan Energy Resources's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Vulcan Energy Resources's ROC (Joel Greenblatt) % falls into.
Vulcan Energy Resources 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 (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 -22.24% mean?
Vulcan Energy Resources (ASX:VUL) has a ROC (Joel Greenblatt) % of -22.24% 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 Vulcan Energy Resources and its competitors. According to the industry distribution chart, Vulcan Energy Resources ranks #1252 out of 2502 companies in the Metals & Mining industry, placing it in the top 50%.
Is Vulcan Energy Resources' ROC (Joel Greenblatt) % too high?
Vulcan Energy Resources' current ROC (Joel Greenblatt) % is -22.24%. Based on the distribution chart, Vulcan Energy Resources ranks #1252 out of 2502 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Vulcan Energy Resources has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Energy Resources' ROC (Joel Greenblatt) % compare to competitors?
According to the Metals & Mining industry distribution chart, Vulcan Energy Resources ranks #1252 out of 2502 companies for ROC (Joel Greenblatt) %. This puts Vulcan Energy Resources in the upper half of its industry. 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 Vulcan Energy Resources and its competitors. Vulcan Energy Resources's current ROC (Joel Greenblatt) % is -22.24%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Energy Resources stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Energy Resources (ASX:VUL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$3.50, compared to a current price of A$2.87 — trading 18% below its estimated fair value. The current ROC (Joel Greenblatt) % is -22.24%. Vulcan Energy Resources' overall GF Score™ is 57/100 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 Vulcan Energy Resources (ASX:VUL), the current ROC (Joel Greenblatt) % is -22.24% 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 Vulcan Energy Resources (ASX:VUL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Energy Resources stock appears to be undervalued.
The current stock price of A$2.87 is trading 18% below its estimated GF Value™ of A$3.50.
GuruFocus considers Vulcan Energy Resources to be Modestly Undervalued.
Key valuation signals for ASX:VUL:
ROC (Joel Greenblatt) %: -22.24%
GF Value™: A$3.50 vs. price of A$2.87 (18% below fair value)
No single metric tells the full story. See the ASX:VUL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Energy Resources Ltd is engaged in geothermal energy and lithium exploration and production. The company's Lionheart Project is an integrated lithium and renewable energy project that produces battery-quality lithium from naturally heated subsurface brine in the Upper Rhine Valley, to deliver a local source of sustainable lithium for the European battery industry, with a co-product of renewable energy for local heating needs. It has developed an aluminate-based sorbent, VULSORB, to produce lithium from subsurface brine and harnesses geothermal energy from its operations in the Upper Rhine Valley. The company has three operating segments based on geographical location: Germany, which derives the maximum revenue, other European countries, and Australia.
57GF Score
Get the complete analysis for ASX:VUL
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:VUL has been successfully added to your 
