MaplebearCART +1.39%63 ROC (Joel Greenblatt) % is 90.43% as of Mar. 2026, which is 422% above its 10-year median of 17.32. GuruFocus rates CART with a GF Score™ of 63/100 and a GF Value™ of $43.46 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,128 Retail - Cyclical companies, Maplebear ranks better than 93% 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. Maplebear's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 90.43%.
The historical rank and industry rank for Maplebear's ROC (Joel Greenblatt) % or its related term are showing as below:
CART'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -482.43 Med: 17.32 Max: 79.09
Current: 79.09
During the past 6 years, Maplebear's highest ROC (Joel Greenblatt) % was 79.09%. The lowest was -482.43%. And the median was 17.32%.
CART's ROC (Joel Greenblatt) % is ranked better than 93% of 1128
companies
in the Retail - Cyclical industry
Industry Median: 11.545
vs CART: 79.09
Maplebear's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
The historical data trend for Maplebear'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.
CART vs CHWY, W, VIPS: ROC (Joel Greenblatt) % Comparison
For the Internet Retail subindustry, Maplebear'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.
Maplebear ROC (Joel Greenblatt) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Maplebear's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Maplebear'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 90.43% mean?
Maplebear (CART) has a ROC (Joel Greenblatt) % of 90.43% 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 Maplebear and its competitors. This is 422% above median its historical median of 17.32. According to the industry distribution chart, Maplebear ranks #79 out of 1128 companies in the Retail - Cyclical industry, placing it in the top 7%.
Is Maplebear's ROC (Joel Greenblatt) % too high?
Maplebear's current ROC (Joel Greenblatt) % of 90.43% is 422% above median its 10-year median of 17.32. The Retail - Cyclical industry median ROC (Joel Greenblatt) % is 11.55. Maplebear's value of 90.43% is 683.3% above this industry median. Based on the distribution chart, Maplebear ranks #79 out of 1128 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Maplebear has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Maplebear's ROC (Joel Greenblatt) % compare to CHWY and W?
According to the Retail - Cyclical industry distribution chart, Maplebear ranks #79 out of 1128 companies for ROC (Joel Greenblatt) %. This places Maplebear in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.55. Maplebear's value of 90.43% is 683.3% above this benchmark. While the company's 10-year median is 17.32 vs. the industry median of 11.55, Maplebear 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 Retail - Cyclical company?
The median ROC (Joel Greenblatt) % among Retail - Cyclical companies is 11.55, based on 1,128 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. Maplebear's current ROC (Joel Greenblatt) % of 90.43% is 683.3% 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 Maplebear and its competitors. For the Retail - Cyclical industry, the median ROC (Joel Greenblatt) % is 11.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maplebear's current ROC (Joel Greenblatt) % is 90.43%, which is 422% above median its own 10-year median of 17.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maplebear stock overvalued right now?
Based on GuruFocus' analysis, Maplebear (CART) is currently considered Fairly Valued. The stock's GF Value™ is $43.46, compared to a current price of $47.46 — trading 9.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 90.43%, which is 422% above median its 10-year median of 17.32 and 683.3% above the Retail - Cyclical industry median of 11.55. Maplebear's overall GF Score™ is 63/100 with 3 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 Maplebear (CART), the current ROC (Joel Greenblatt) % is 90.43% 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 Maplebear (CART) Overvalued in 2026?
Based on GuruFocus' analysis, Maplebear stock appears to be overvalued.
The current stock price of $47.46 is trading 9.2% above its estimated GF Value™ of $43.46.
GuruFocus considers Maplebear to be Fairly Valued.
Key valuation signals for CART:
ROC (Joel Greenblatt) %: 90.43% (422% above median its 10-year median of 17.32)
GF Value™: $43.46 vs. price of $47.46 (9.2% above fair value)
Industry Position: 683.3% above the Retail - Cyclical median (#79 of 1128)
No single metric tells the full story. See the CART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maplebear (Instacart) is a grocery-focused delivery marketplace that connects national and regional grocers with consumers and couriers, and consumers with their favorite stores. Its app provides on-demand convenience for consumers, allows couriers to earn income, and helps grocers to scale their business through digital channels. The marketplace gathers valuable consumer behavior data, attracting consumer-packaged-goods advertisers that seek to reach consumers at the point of purchase. With approximately 600,000 shoppers and 1,800 retail partners, Instacart delivers to about 98% of households in the United States and Canada.
63GF Score
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