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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. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 205.41%.
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario (BSP:BLMO11) 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.
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario ROC (Joel Greenblatt) % Chart
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario Annual Data
* 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.
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario ROC (Joel Greenblatt) % vs REITs Industry
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario 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 one times the 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 205.41% mean?
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario (BSP:BLMO11) has a ROC (Joel Greenblatt) % of 205.41% 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 Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario and its competitors. This is 85% above median its historical median of 111.26. Over the past decade, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's ROC (Joel Greenblatt) % has ranged from 17.62 to 205.41. According to the industry distribution chart, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario ranks #275 out of 572 companies in the REITs industry, placing it in the top 48.1%.
Is Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's ROC (Joel Greenblatt) % too high?
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's current ROC (Joel Greenblatt) % of 205.41% is 85% above median its 10-year median of 111.26. Over the past 10 years, this metric has ranged from a low of 17.62 to a high of 205.41. The REITs industry median ROC (Joel Greenblatt) % is 179.20. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's value of 205.41% is 14.6% above this industry median. Based on the distribution chart, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario ranks #275 out of 572 companies in the REITs industry, which is above the industry midpoint. Overall, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's ROC (Joel Greenblatt) % compare to VICI and WPC?
According to the REITs industry distribution chart, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario ranks #275 out of 572 companies for ROC (Joel Greenblatt) %. This puts Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 179.20. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's value of 205.41% is 14.6% above this benchmark. Historically, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's own ROC (Joel Greenblatt) % has ranged from 17.62 to 205.41 over the past decade. While the company's 10-year median is 111.26 vs. the industry median of 179.20, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 179.20, based on 572 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. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's current ROC (Joel Greenblatt) % of 205.41% is 14.6% 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 Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 179.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's current ROC (Joel Greenblatt) % is 205.41%, which is 85% above median its own 10-year median of 111.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario (BSP:BLMO11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$116.54, compared to a current price of R$92.33 — trading 20.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 205.41%, which is 85% above median its 10-year median of 111.26 and 14.6% above the REITs industry median of 179.20. Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario's overall GF Score™ is 74/100 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 Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario (BSP:BLMO11), the current ROC (Joel Greenblatt) % is 205.41% 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 Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario (BSP:BLMO11) Overvalued in 2026?
Based on GuruFocus' analysis, Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario stock appears to be undervalued.
The current stock price of R$92.33 is trading 20.8% below its estimated GF Value™ of R$116.54.
GuruFocus considers Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario to be Modestly Undervalued.
Key valuation signals for BSP:BLMO11:
ROC (Joel Greenblatt) %: 205.41% (85% above median its 10-year median of 111.26)
GF Value™: R$116.54 vs. price of R$92.33 (20.8% below fair value)
Industry Position: 14.6% above the REITs median (#275 of 572)
No single metric tells the full story. See the BSP:BLMO11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bluemacaw Office Fund Il - Fundo DE Investimento Imobiliario invests in real estate, in addition to obtaining income and eventual gain of capital, to be obtained through the acquisition of Real Estate Assets ready for subsequent rental and/or disposal.
74GF Score
Get the complete analysis for BSP:BLMO11
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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