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. CIA de Ferro Ligas da Bahia - Ferbasa's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.22%.
BSP:FESA4'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.81 Med: 18.94 Max: 65.63
Current: 7.35
During the past 13 years, CIA de Ferro Ligas da Bahia - Ferbasa's highest ROC (Joel Greenblatt) % was 65.63%. The lowest was 4.81%. And the median was 18.94%.
BSP:FESA4's ROC (Joel Greenblatt) % is ranked better than 51.42% of 632
companies
in the Steel industry
Industry Median: 6.95
vs BSP:FESA4: 7.35
CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) 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.
CIA de Ferro Ligas da Bahia - Ferbasa ROC (Joel Greenblatt) % Chart
BSP:FESA4 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, CIA de Ferro Ligas da Bahia - Ferbasa'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.
CIA de Ferro Ligas da Bahia - Ferbasa ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, CIA de Ferro Ligas da Bahia - Ferbasa's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CIA de Ferro Ligas da Bahia - Ferbasa's ROC (Joel Greenblatt) % falls into.
CIA de Ferro Ligas da Bahia - Ferbasa 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 2.22% mean?
CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) has a ROC (Joel Greenblatt) % of 2.22% 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 CIA de Ferro Ligas da Bahia - Ferbasa and its competitors. This is 88% below median its historical median of 18.94. Over the past decade, CIA de Ferro Ligas da Bahia - Ferbasa's ROC (Joel Greenblatt) % has ranged from 4.81 to 65.63. According to the industry distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #307 out of 632 companies in the Steel industry, placing it in the top 48.6%.
Is CIA de Ferro Ligas da Bahia - Ferbasa's ROC (Joel Greenblatt) % too high?
CIA de Ferro Ligas da Bahia - Ferbasa's current ROC (Joel Greenblatt) % of 2.22% is 88% below median its 10-year median of 18.94. Over the past 10 years, this metric has ranged from a low of 4.81 to a high of 65.63. The Steel industry median ROC (Joel Greenblatt) % is 6.95. CIA de Ferro Ligas da Bahia - Ferbasa's value of 2.22% is 68.1% below this industry median. Based on the distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #307 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, CIA de Ferro Ligas da Bahia - Ferbasa has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CIA de Ferro Ligas da Bahia - Ferbasa's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #307 out of 632 companies for ROC (Joel Greenblatt) %. This puts CIA de Ferro Ligas da Bahia - Ferbasa in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 6.95. CIA de Ferro Ligas da Bahia - Ferbasa's value of 2.22% is 68.1% below this benchmark. Historically, CIA de Ferro Ligas da Bahia - Ferbasa's own ROC (Joel Greenblatt) % has ranged from 4.81 to 65.63 over the past decade. While the company's 10-year median is 18.94 vs. the industry median of 6.95, CIA de Ferro Ligas da Bahia - Ferbasa has consistently been below 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 6.95, based on 632 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. CIA de Ferro Ligas da Bahia - Ferbasa's current ROC (Joel Greenblatt) % of 2.22% is 68.1% below 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 CIA de Ferro Ligas da Bahia - Ferbasa and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 6.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CIA de Ferro Ligas da Bahia - Ferbasa's current ROC (Joel Greenblatt) % is 2.22%, which is 88% below median its own 10-year median of 18.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CIA de Ferro Ligas da Bahia - Ferbasa stock overvalued right now?
Based on GuruFocus' analysis, CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) is currently considered Significantly Undervalued. The stock's GF Value™ is R$8.50, compared to a current price of R$5.92 — trading 30.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 2.22%, which is 88% below median its 10-year median of 18.94 and 68.1% below the Steel industry median of 6.95. CIA de Ferro Ligas da Bahia - Ferbasa's overall GF Score™ is 67/100 with 8 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 CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4), the current ROC (Joel Greenblatt) % is 2.22% 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 CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) Overvalued in 2026?
Based on GuruFocus' analysis, CIA de Ferro Ligas da Bahia - Ferbasa stock appears to be undervalued.
The current stock price of R$5.92 is trading 30.4% below its estimated GF Value™ of R$8.50.
GuruFocus considers CIA de Ferro Ligas da Bahia - Ferbasa to be Significantly Undervalued.
Key valuation signals for BSP:FESA4:
ROC (Joel Greenblatt) %: 2.22% (88% below median its 10-year median of 18.94)
GF Value™: R$8.50 vs. price of R$5.92 (30.4% below fair value)
Industry Position: 68.1% below the Steel median (#307 of 632)
No single metric tells the full story. See the BSP:FESA4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIA de Ferro Ligas da Bahia - Ferbasa Business Description
CIA de Ferro Ligas da Bahia - Ferbasa produces ferroalloys, including chromium alloys and silicon ferroalloys. It operates in the areas of mining, reforestation, and metallurgy, offering high-carbon ferrochrome, low-carbon ferrochrome, and ferrosilicon. It also engages in the mining, forestry, metallurgy businesses.
67GF Score
Get the complete analysis for BSP:FESA4
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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