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Butler NationalBUKS -3.42%72 ROC (Joel Greenblatt) % is 48.14% as of Apr. 2026, which is 88% above its 10-year median of 25.63. GuruFocus rates BUKS with a GF Score™ of 72/100 and a GF Value™ of $1.87 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 359 Aerospace & Defense companies, Butler National ranks better than 84.68% 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. Butler National's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 48.14%.
The historical rank and industry rank for Butler National's ROC (Joel Greenblatt) % or its related term are showing as below:
BUKS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 10.09 Med: 25.63 Max: 49.46
Current: 49.46
During the past 13 years, Butler National's highest ROC (Joel Greenblatt) % was 49.46%. The lowest was 10.09%. And the median was 25.63%.
BUKS's ROC (Joel Greenblatt) % is ranked better than 84.68% of 359
companies
in the Aerospace & Defense industry
Industry Median: 10.68
vs BUKS: 49.46
Butler National's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 28.20% per year.
Butler National (OTCPK:BUKS) 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.
Butler National ROC (Joel Greenblatt) % Related Terms
Butler National ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Butler National'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.
BUKS vs SPCE, MRLN, ISSC: ROC (Joel Greenblatt) % Comparison
For the Aerospace & Defense subindustry, Butler National'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.
Butler National ROC (Joel Greenblatt) % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Butler National's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Butler National's ROC (Joel Greenblatt) % falls into.
Butler National 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 (Apr. 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 48.14% mean?
Butler National (BUKS) has a ROC (Joel Greenblatt) % of 48.14% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Butler National and its competitors. This is 88% above median its historical median of 25.63. Over the past decade, Butler National's ROC (Joel Greenblatt) % has ranged from 10.09 to 49.46. According to the industry distribution chart, Butler National ranks #55 out of 359 companies in the Aerospace & Defense industry, placing it in the top 15.3%.
Is Butler National's ROC (Joel Greenblatt) % too high?
Butler National's current ROC (Joel Greenblatt) % of 48.14% is 88% above median its 10-year median of 25.63. Over the past 10 years, this metric has ranged from a low of 10.09 to a high of 49.46. The Aerospace & Defense industry median ROC (Joel Greenblatt) % is 10.68. Butler National's value of 48.14% is 350.7% above this industry median. Based on the distribution chart, Butler National ranks #55 out of 359 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Butler National has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Butler National's ROC (Joel Greenblatt) % compare to SPCE and MRLN?
According to the Aerospace & Defense industry distribution chart, Butler National ranks #55 out of 359 companies for ROC (Joel Greenblatt) %. This places Butler National in the top 15% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.68. Butler National's value of 48.14% is 350.7% above this benchmark. Historically, Butler National's own ROC (Joel Greenblatt) % has ranged from 10.09 to 49.46 over the past decade. While the company's 10-year median is 25.63 vs. the industry median of 10.68, Butler National 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 Aerospace & Defense company?
The median ROC (Joel Greenblatt) % among Aerospace & Defense companies is 10.68, based on 359 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. Butler National's current ROC (Joel Greenblatt) % of 48.14% is 350.7% 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 Butler National and its competitors. For the Aerospace & Defense industry, the median ROC (Joel Greenblatt) % is 10.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Butler National's current ROC (Joel Greenblatt) % is 48.14%, which is 88% above median its own 10-year median of 25.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Butler National stock overvalued right now?
Based on GuruFocus' analysis, Butler National (BUKS) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.87, compared to a current price of $4.80 — trading 156.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 48.14%, which is 88% above median its 10-year median of 25.63 and 350.7% above the Aerospace & Defense industry median of 10.68. Butler National's overall GF Score™ is 72/100 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 Butler National (BUKS), the current ROC (Joel Greenblatt) % is 48.14% as of Apr. 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 Butler National (BUKS) Overvalued in 2026?
Based on GuruFocus' analysis, Butler National stock appears to be overvalued.
The current stock price of $4.80 is trading 156.7% above its estimated GF Value™ of $1.87.
GuruFocus considers Butler National to be Significantly Overvalued.
Key valuation signals for BUKS:
ROC (Joel Greenblatt) %: 48.14% (88% above median its 10-year median of 25.63)
GF Value™: $1.87 vs. price of $4.80 (156.7% above fair value)
Industry Position: 350.7% above the Aerospace & Defense median (#55 of 359)
No single metric tells the full story. See the BUKS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Butler National Corp is involved in the design, engineering, manufacturing, selling, integrating, installing, repairing, modifying, overhauling, servicing, and distributing portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems (Aerospace Products). The group serves the aviation industry, including owners of aircraft and contractors involved with private, commercial, business, and government aircraft operations. It also serves commercial weapon manufacturers and suppliers to governments and their agencies. The company has two operating segments: Professional Services and Aerospace Products. Its main source of revenue comes from the Aerospace Products segment. It operates in North America, Europe, Asia, Australia, and other geographical regions.
72GF Score
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