Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Bel FuseBELFA +1.56%71 ROC (Joel Greenblatt) % is 29.61% as of Mar. 2026, which is 64% above its 10-year median of 18.02. GuruFocus rates BELFA with a GF Score™ of 71/100 and a GF Value™ of $90.48 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,492 Hardware companies, Bel Fuse ranks better than 82.26% 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. Bel Fuse's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 29.61%.
The historical rank and industry rank for Bel Fuse's ROC (Joel Greenblatt) % or its related term are showing as below:
BELFA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -49.63 Med: 18.02 Max: 42.12
Current: 37.66
During the past 13 years, Bel Fuse's highest ROC (Joel Greenblatt) % was 42.12%. The lowest was -49.63%. And the median was 18.02%.
BELFA's ROC (Joel Greenblatt) % is ranked better than 82.26% of 2492
companies
in the Hardware industry
Industry Median: 10.435
vs BELFA: 37.66
Bel Fuse's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 29.10% 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 Bel Fuse'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.
BELFA vs OLED, OSIS, KN: ROC (Joel Greenblatt) % Comparison
For the Electronic Components subindustry, Bel Fuse'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.
Bel Fuse ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Bel Fuse's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Bel Fuse'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 four times the quarterly (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 29.61% mean?
Bel Fuse (BELFA) has a ROC (Joel Greenblatt) % of 29.61% 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 Bel Fuse and its competitors. This is 64% above median its historical median of 18.02. According to the industry distribution chart, Bel Fuse ranks #442 out of 2492 companies in the Hardware industry, placing it in the top 17.7%.
Is Bel Fuse's ROC (Joel Greenblatt) % too high?
Bel Fuse's current ROC (Joel Greenblatt) % of 29.61% is 64% above median its 10-year median of 18.02. The Hardware industry median ROC (Joel Greenblatt) % is 10.44. Bel Fuse's value of 29.61% is 183.8% above this industry median. Based on the distribution chart, Bel Fuse ranks #442 out of 2492 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Bel Fuse has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bel Fuse's ROC (Joel Greenblatt) % compare to OLED and OSIS?
According to the Hardware industry distribution chart, Bel Fuse ranks #442 out of 2492 companies for ROC (Joel Greenblatt) %. This places Bel Fuse in the top 18% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.44. Bel Fuse's value of 29.61% is 183.8% above this benchmark. While the company's 10-year median is 18.02 vs. the industry median of 10.44, Bel Fuse 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 10.44, based on 2,492 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. Bel Fuse's current ROC (Joel Greenblatt) % of 29.61% is 183.8% 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 Bel Fuse and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bel Fuse's current ROC (Joel Greenblatt) % is 29.61%, which is 64% above median its own 10-year median of 18.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bel Fuse stock overvalued right now?
Based on GuruFocus' analysis, Bel Fuse (BELFA) is currently considered Significantly Overvalued. The stock's GF Value™ is $90.48, compared to a current price of $227.27 — trading 151.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 29.61%, which is 64% above median its 10-year median of 18.02 and 183.8% above the Hardware industry median of 10.44. Bel Fuse's overall GF Score™ is 71/100 with 3 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 Bel Fuse (BELFA), the current ROC (Joel Greenblatt) % is 29.61% 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 Bel Fuse (BELFA) Overvalued in 2026?
Based on GuruFocus' analysis, Bel Fuse stock appears to be overvalued.
The current stock price of $227.27 is trading 151.2% above its estimated GF Value™ of $90.48.
GuruFocus considers Bel Fuse to be Significantly Overvalued.
Key valuation signals for BELFA:
ROC (Joel Greenblatt) %: 29.61% (64% above median its 10-year median of 18.02)
GF Value™: $90.48 vs. price of $227.27 (151.2% above fair value)
Industry Position: 183.8% above the Hardware median (#442 of 2492)
No single metric tells the full story. See the BELFA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bel Fuse Inc designs and manufactures electronic components that protect and connect electronic circuits. Its product portfolio is divided into three categories: magnetic solutions, power solutions & protection, and connectivity solutions. These products are used for the computer, networking, telecommunications, transportation and defense/aerospace, automotive, medical, and consumer electronics industries. Its geographical segments are the United States, Macao, United Kingdom, Slovakia, Germany, Switzerland, and All other foreign countries. Majority of the revenue is derived from United States.
71GF Score
Get the complete analysis for BELFA
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
BELFA has been successfully added to your 
