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. Bolt Biotherapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -151.71%.
The historical rank and industry rank for Bolt Biotherapeutics's ROC (Joel Greenblatt) % or its related term are showing as below:
BOLT'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -806.45 Med: -329.25 Max: -140.87
Current: -140.87
During the past 8 years, Bolt Biotherapeutics's highest ROC (Joel Greenblatt) % was -140.87%. The lowest was -806.45%. And the median was -329.25%.
BOLT's ROC (Joel Greenblatt) % is ranked better than 58.67% of 1321
companies
in the Biotechnology industry
Industry Median: -296.6
vs BOLT: -140.87
Bolt Biotherapeutics's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 14.00% 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.
Bolt Biotherapeutics ROC (Joel Greenblatt) % Related Terms
Bolt Biotherapeutics ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Bolt Biotherapeutics'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.
BOLT vs AIM, ERNA, RVPH: ROC (Joel Greenblatt) % Comparison
For the Biotechnology subindustry, Bolt Biotherapeutics'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.
Bolt Biotherapeutics ROC (Joel Greenblatt) % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Bolt Biotherapeutics's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Bolt Biotherapeutics'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 -151.71% mean?
Bolt Biotherapeutics (BOLT) has a ROC (Joel Greenblatt) % of -151.71% 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 Bolt Biotherapeutics and its competitors. According to the industry distribution chart, Bolt Biotherapeutics ranks #546 out of 1321 companies in the Biotechnology industry, placing it in the top 41.3%.
Is Bolt Biotherapeutics' ROC (Joel Greenblatt) % too high?
Bolt Biotherapeutics' current ROC (Joel Greenblatt) % is -151.71%. Based on the distribution chart, Bolt Biotherapeutics ranks #546 out of 1321 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Bolt Biotherapeutics has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bolt Biotherapeutics' ROC (Joel Greenblatt) % compare to AIM and ERNA?
According to the Biotechnology industry distribution chart, Bolt Biotherapeutics ranks #546 out of 1321 companies for ROC (Joel Greenblatt) %. This puts Bolt Biotherapeutics 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 Biotechnology company?
A good ROC (Joel Greenblatt) % depends on the Biotechnology 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 Bolt Biotherapeutics and its competitors. Bolt Biotherapeutics's current ROC (Joel Greenblatt) % is -151.71%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bolt Biotherapeutics stock overvalued right now?
Based on GuruFocus' analysis, Bolt Biotherapeutics (BOLT) is currently considered Possible Value Trap. The stock's GF Value™ is $9.05, compared to a current price of $4.13 — trading 54.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is -151.71%. Bolt Biotherapeutics' overall GF Score™ is 55/100 with 4 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 Bolt Biotherapeutics (BOLT), the current ROC (Joel Greenblatt) % is -151.71% 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 Bolt Biotherapeutics (BOLT) Overvalued in 2026?
Based on GuruFocus' analysis, Bolt Biotherapeutics stock appears to be undervalued.
The current stock price of $4.13 is trading 54.4% below its estimated GF Value™ of $9.05.
GuruFocus considers Bolt Biotherapeutics to be Possible Value Trap.
Key valuation signals for BOLT:
ROC (Joel Greenblatt) %: -151.71%
GF Value™: $9.05 vs. price of $4.13 (54.4% below fair value)
No single metric tells the full story. See the BOLT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bolt Biotherapeutics Inc is a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer. The company is focused on the clinical development of BDC-4182, its claudin 18.2 ISAC. Its other pipeline programs include CEA ISAC program a Boltbody ISAC targeting carcinoembryonic antigen cell adhesion molecule 5, or CEA; PD-L1 ISAC utilizes a novel human anti-PD-L1 antibody conjugated to a next-generation TLR7/8 agonist payload via a non-cleavable linker; and BDC-3042, its dectin-2 agonist antibody program, developed to repolarize critical cells in the tumor microenvironment known as tumor associated macrophages. It operates in single segment.
55GF Score
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