Onward TechnologiesBOM:517536 -3.83%83 ROC (Joel Greenblatt) % is 42.25% as of Mar. 2026, which is 31% above its 10-year median of 32.33. GuruFocus rates BOM:517536 with a GF Score™ of 83/100 and a GF Value™ of ₹406.58 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 2,800 Software companies, Onward Technologies ranks better than 62.46% 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. Onward Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 42.25%.
The historical rank and industry rank for Onward Technologies's ROC (Joel Greenblatt) % or its related term are showing as below:
BOM:517536'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 19.72 Med: 32.33 Max: 52.27
Current: 51.96
During the past 13 years, Onward Technologies's highest ROC (Joel Greenblatt) % was 52.27%. The lowest was 19.72%. And the median was 32.33%.
BOM:517536's ROC (Joel Greenblatt) % is ranked better than 62.46% of 2800
companies
in the Software industry
Industry Median: 19.625
vs BOM:517536: 51.96
Onward Technologies's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.30% 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.
Onward Technologies ROC (Joel Greenblatt) % Related Terms
Onward Technologies ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Onward Technologies'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.
BOM:517536 vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Onward Technologies'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.
Onward Technologies ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Onward Technologies's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Onward Technologies'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 42.25% mean?
Onward Technologies (BOM:517536) has a ROC (Joel Greenblatt) % of 42.25% 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 Onward Technologies and its competitors. This is 31% above median its historical median of 32.33. Over the past decade, Onward Technologies' ROC (Joel Greenblatt) % has ranged from 19.72 to 52.27. According to the industry distribution chart, Onward Technologies ranks #1051 out of 2800 companies in the Software industry, placing it in the top 37.5%.
Is Onward Technologies' ROC (Joel Greenblatt) % too high?
Onward Technologies' current ROC (Joel Greenblatt) % of 42.25% is 31% above median its 10-year median of 32.33. Over the past 10 years, this metric has ranged from a low of 19.72 to a high of 52.27. The Software industry median ROC (Joel Greenblatt) % is 19.63. Onward Technologies' value of 42.25% is 115.3% above this industry median. Based on the distribution chart, Onward Technologies ranks #1051 out of 2800 companies in the Software industry, which is above the industry midpoint. Overall, Onward Technologies has a GF Score™ of 83/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Onward Technologies' ROC (Joel Greenblatt) % compare to IBM and ACN?
According to the Software industry distribution chart, Onward Technologies ranks #1051 out of 2800 companies for ROC (Joel Greenblatt) %. This puts Onward Technologies in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.63. Onward Technologies' value of 42.25% is 115.3% above this benchmark. Historically, Onward Technologies' own ROC (Joel Greenblatt) % has ranged from 19.72 to 52.27 over the past decade. While the company's 10-year median is 32.33 vs. the industry median of 19.63, Onward Technologies 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 19.63, based on 2,800 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. Onward Technologies's current ROC (Joel Greenblatt) % of 42.25% is 115.3% 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 Onward Technologies and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Onward Technologies's current ROC (Joel Greenblatt) % is 42.25%, which is 31% above median its own 10-year median of 32.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Onward Technologies stock overvalued right now?
Based on GuruFocus' analysis, Onward Technologies (BOM:517536) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹406.58, compared to a current price of ₹281.05 — trading 30.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 42.25%, which is 31% above median its 10-year median of 32.33 and 115.3% above the Software industry median of 19.63. Onward Technologies' overall GF Score™ is 83/100 with 1 warning sign 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 Onward Technologies (BOM:517536), the current ROC (Joel Greenblatt) % is 42.25% 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 Onward Technologies (BOM:517536) Overvalued in 2026?
Based on GuruFocus' analysis, Onward Technologies stock appears to be undervalued.
The current stock price of ₹281.05 is trading 30.9% below its estimated GF Value™ of ₹406.58.
GuruFocus considers Onward Technologies to be Significantly Undervalued.
Key valuation signals for BOM:517536:
ROC (Joel Greenblatt) %: 42.25% (31% above median its 10-year median of 32.33)
GF Value™: ₹406.58 vs. price of ₹281.05 (30.9% below fair value)
Industry Position: 115.3% above the Software median (#1051 of 2800)
No single metric tells the full story. See the BOM:517536 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Onward Technologies Ltd is an Indian company that is engaged in software development, testing, and integration for partner industries of the future. Its services are Digital Services, Embedded Products & Systems, and Mechanical Product Engineering. Its industries include Automotive, Renewables, Hydro Energy, Construction, Agricultural and Mining Equipment, Rail Transportation, and others. It has one operating segment which is ER&D (Engineering, Research and Development) service and digital services. The majority of the company's revenue comes from India. It also operates outside India.
83GF Score
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