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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. Equatorial MaranhaoDistribuidora de Energia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 745.17%.
BSP:EQMA3B's ROC (Joel Greenblatt) % is ranked better than 97.82% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.84
vs BSP:EQMA3B: 1084.73
Equatorial MaranhaoDistribuidora de Energia (BSP:EQMA3B) 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.
Equatorial MaranhaoDistribuidora de Energia ROC (Joel Greenblatt) % Chart
Equatorial MaranhaoDistribuidora de Energia Annual Data
BSP:EQMA3B vs NEE, SO, DUK: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Electric subindustry, Equatorial MaranhaoDistribuidora de Energia'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.
Equatorial MaranhaoDistribuidora de Energia ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
Equatorial MaranhaoDistribuidora de Energia 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 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 745.17% mean?
Equatorial MaranhaoDistribuidora de Energia (BSP:EQMA3B) has a ROC (Joel Greenblatt) % of 745.17% 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 Equatorial MaranhaoDistribuidora de Energia and its competitors. This is 50% above median its historical median of 498.28. Over the past decade, Equatorial MaranhaoDistribuidora de Energia's ROC (Joel Greenblatt) % has ranged from 249.20 to 26,999.44. According to the industry distribution chart, Equatorial MaranhaoDistribuidora de Energia ranks #11 out of 505 companies in the Utilities - Regulated industry, placing it in the top 2.2%.
Is Equatorial MaranhaoDistribuidora de Energia's ROC (Joel Greenblatt) % too high?
Equatorial MaranhaoDistribuidora de Energia's current ROC (Joel Greenblatt) % of 745.17% is 50% above median its 10-year median of 498.28. Over the past 10 years, this metric has ranged from a low of 249.20 to a high of 26,999.44. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.84. Equatorial MaranhaoDistribuidora de Energia's value of 745.17% is 6774.3% above this industry median. Based on the distribution chart, Equatorial MaranhaoDistribuidora de Energia ranks #11 out of 505 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Equatorial MaranhaoDistribuidora de Energia has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Equatorial MaranhaoDistribuidora de Energia's ROC (Joel Greenblatt) % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Equatorial MaranhaoDistribuidora de Energia ranks #11 out of 505 companies for ROC (Joel Greenblatt) %. This places Equatorial MaranhaoDistribuidora de Energia in the top 2% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.84. Equatorial MaranhaoDistribuidora de Energia's value of 745.17% is 6774.3% above this benchmark. Historically, Equatorial MaranhaoDistribuidora de Energia's own ROC (Joel Greenblatt) % has ranged from 249.20 to 26,999.44 over the past decade. While the company's 10-year median is 498.28 vs. the industry median of 10.84, Equatorial MaranhaoDistribuidora de Energia 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 an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.84, based on 505 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. Equatorial MaranhaoDistribuidora de Energia's current ROC (Joel Greenblatt) % of 745.17% is 6774.3% 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 Equatorial MaranhaoDistribuidora de Energia and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Equatorial MaranhaoDistribuidora de Energia's current ROC (Joel Greenblatt) % is 745.17%, which is 50% above median its own 10-year median of 498.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Equatorial MaranhaoDistribuidora de Energia stock overvalued right now?
Based on GuruFocus' analysis, Equatorial MaranhaoDistribuidora de Energia (BSP:EQMA3B) is currently considered Modestly Undervalued. The stock's GF Value™ is R$34.28, compared to a current price of R$29.02 — trading 15.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 745.17%, which is 50% above median its 10-year median of 498.28 and 6774.3% above the Utilities - Regulated industry median of 10.84. Equatorial MaranhaoDistribuidora de Energia's overall GF Score™ is 78/100 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 Equatorial MaranhaoDistribuidora de Energia (BSP:EQMA3B), the current ROC (Joel Greenblatt) % is 745.17% 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 Equatorial MaranhaoDistribuidora de Energia (BSP:EQMA3B) Overvalued in 2026?
Based on GuruFocus' analysis, Equatorial MaranhaoDistribuidora de Energia stock appears to be undervalued.
The current stock price of R$29.02 is trading 15.3% below its estimated GF Value™ of R$34.28.
GuruFocus considers Equatorial MaranhaoDistribuidora de Energia to be Modestly Undervalued.
Key valuation signals for BSP:EQMA3B:
ROC (Joel Greenblatt) %: 745.17% (50% above median its 10-year median of 498.28)
GF Value™: R$34.28 vs. price of R$29.02 (15.3% below fair value)
Industry Position: 6774.3% above the Utilities - Regulated median (#11 of 505)
No single metric tells the full story. See the BSP:EQMA3B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Equatorial MaranhaoDistribuidora de Energia SA develops, produces and generates electric power. The company distributes electric energy for residential, commercial, rural and industrial consumption, corporate, real estate, and public power customers in Brazil.
78GF 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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