Alpha Real Estate ServicesATH:ASTAK -5.39%86 ROC (Joel Greenblatt) % is 220.22% as of Dec. 2025, which is 986% above its 10-year median of 20.27. GuruFocus rates ATH:ASTAK with a GF Score™ of 86/100 and a GF Value™ of €12.48 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 1,751 Real Estate companies, Alpha Real Estate Services ranks better than 79.95% 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. Alpha Real Estate Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 220.22%.
The historical rank and industry rank for Alpha Real Estate Services's ROC (Joel Greenblatt) % or its related term are showing as below:
ATH:ASTAK'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -191.88 Med: 20.27 Max: 171.2
Current: 125.85
During the past 13 years, Alpha Real Estate Services's highest ROC (Joel Greenblatt) % was 171.20%. The lowest was -191.88%. And the median was 20.27%.
ATH:ASTAK's ROC (Joel Greenblatt) % is ranked better than 79.95% of 1751
companies
in the Real Estate industry
Industry Median: 12.62
vs ATH:ASTAK: 125.85
Alpha Real Estate Services (ATH:ASTAK) 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.
* 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.
Alpha Real Estate Services ROC (Joel Greenblatt) % Chart
ATH:ASTAK vs CBRE, BEKE, JLL: ROC (Joel Greenblatt) % Comparison
For the Real Estate Services subindustry, Alpha Real Estate Services'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.
Alpha Real Estate Services ROC (Joel Greenblatt) % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Alpha Real Estate Services's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Alpha Real Estate Services's ROC (Joel Greenblatt) % falls into.
Alpha Real Estate Services 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 220.22% mean?
Alpha Real Estate Services (ATH:ASTAK) has a ROC (Joel Greenblatt) % of 220.22% 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 Alpha Real Estate Services and its competitors. This is 986% above median its historical median of 20.27. According to the industry distribution chart, Alpha Real Estate Services ranks #351 out of 1751 companies in the Real Estate industry, placing it in the top 20%.
Is Alpha Real Estate Services' ROC (Joel Greenblatt) % too high?
Alpha Real Estate Services' current ROC (Joel Greenblatt) % of 220.22% is 986% above median its 10-year median of 20.27. The Real Estate industry median ROC (Joel Greenblatt) % is 12.62. Alpha Real Estate Services' value of 220.22% is 1645% above this industry median. Based on the distribution chart, Alpha Real Estate Services ranks #351 out of 1751 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Alpha Real Estate Services has a GF Score™ of 86/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Alpha Real Estate Services' ROC (Joel Greenblatt) % compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Alpha Real Estate Services ranks #351 out of 1751 companies for ROC (Joel Greenblatt) %. This places Alpha Real Estate Services in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.62. Alpha Real Estate Services' value of 220.22% is 1645% above this benchmark. While the company's 10-year median is 20.27 vs. the industry median of 12.62, Alpha Real Estate Services 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 Real Estate company?
The median ROC (Joel Greenblatt) % among Real Estate companies is 12.62, based on 1,751 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. Alpha Real Estate Services's current ROC (Joel Greenblatt) % of 220.22% is 1645% 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 Alpha Real Estate Services and its competitors. For the Real Estate industry, the median ROC (Joel Greenblatt) % is 12.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alpha Real Estate Services's current ROC (Joel Greenblatt) % is 220.22%, which is 986% above median its own 10-year median of 20.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alpha Real Estate Services stock overvalued right now?
Based on GuruFocus' analysis, Alpha Real Estate Services (ATH:ASTAK) is currently considered Significantly Undervalued. The stock's GF Value™ is €12.48, compared to a current price of €8.42 — trading 32.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 220.22%, which is 986% above median its 10-year median of 20.27 and 1645% above the Real Estate industry median of 12.62. Alpha Real Estate Services' overall GF Score™ is 86/100 with 6 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 Alpha Real Estate Services (ATH:ASTAK), the current ROC (Joel Greenblatt) % is 220.22% 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 Alpha Real Estate Services (ATH:ASTAK) Overvalued in 2026?
Based on GuruFocus' analysis, Alpha Real Estate Services stock appears to be undervalued.
The current stock price of €8.42 is trading 32.5% below its estimated GF Value™ of €12.48.
GuruFocus considers Alpha Real Estate Services to be Significantly Undervalued.
Key valuation signals for ATH:ASTAK:
ROC (Joel Greenblatt) %: 220.22% (986% above median its 10-year median of 20.27)
GF Value™: €12.48 vs. price of €8.42 (32.5% below fair value)
Industry Position: 1645% above the Real Estate median (#351 of 1751)
No single metric tells the full story. See the ATH:ASTAK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Alpha Real Estate Services SA is engaged in the management and exploitation of properties owned by it or third parties, the provision of technical advice on related matters, the provision of real estate and brokerage services, the preparation of studies of all kinds, the provision of general advice on the above matters, the carrying out of assessments and valuations of assets and mechanical equipment and in general assessments on behalf of third parties on related matters.
86GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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