Cadeler ASCDLR -3.12%57 ROC (Joel Greenblatt) % is 2.30% as of Mar. 2026, which is 9% below its 10-year median of 2.52. GuruFocus rates CDLR with a GF Score™ of 57/100 and a GF Value™ of $60.79 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 1,776 Construction companies, Cadeler AS ranks worse than 60.87% 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. Cadeler AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.30%.
The historical rank and industry rank for Cadeler AS's ROC (Joel Greenblatt) % or its related term are showing as below:
CDLR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -16.16 Med: 2.52 Max: 13.3
Current: 12.25
During the past 9 years, Cadeler AS's highest ROC (Joel Greenblatt) % was 13.30%. The lowest was -16.16%. And the median was 2.52%.
CDLR's ROC (Joel Greenblatt) % is ranked worse than 60.87% of 1776
companies
in the Construction industry
Industry Median: 19.425
vs CDLR: 12.25
Cadeler AS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Cadeler AS (NYSE:CDLR) 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.
Cadeler AS ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Cadeler AS'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.
CDLR vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Cadeler AS'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.
Cadeler AS ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Cadeler AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Cadeler AS'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 2.30% mean?
Cadeler AS (CDLR) has a ROC (Joel Greenblatt) % of 2.30% 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 Cadeler AS and its competitors. This is near median its historical median of 2.52. According to the industry distribution chart, Cadeler AS ranks #1081 out of 1776 companies in the Construction industry, placing it in the top 60.9%.
Is Cadeler AS's ROC (Joel Greenblatt) % too high?
Cadeler AS's current ROC (Joel Greenblatt) % of 2.30% is near median its 10-year median of 2.52. The Construction industry median ROC (Joel Greenblatt) % is 19.43. Cadeler AS's value of 2.30% is 88.2% below this industry median. Based on the distribution chart, Cadeler AS ranks #1081 out of 1776 companies in the Construction industry, which is below the industry midpoint. Overall, Cadeler AS has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cadeler AS's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Cadeler AS ranks #1081 out of 1776 companies for ROC (Joel Greenblatt) %. This places Cadeler AS in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.43. Cadeler AS's value of 2.30% is 88.2% below this benchmark. While the company's 10-year median is 2.52 vs. the industry median of 19.43, Cadeler AS 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.43, based on 1,776 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. Cadeler AS's current ROC (Joel Greenblatt) % of 2.30% is 88.2% 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 Cadeler AS and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cadeler AS's current ROC (Joel Greenblatt) % is 2.30%, which is near median its own 10-year median of 2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cadeler AS stock overvalued right now?
Based on GuruFocus' analysis, Cadeler AS (CDLR) is currently considered Possible Value Trap. The stock's GF Value™ is $60.79, compared to a current price of $21.11 — trading 65.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 2.30%, which is near median its 10-year median of 2.52 and 88.2% below the Construction industry median of 19.43. Cadeler AS's overall GF Score™ is 57/100 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 Cadeler AS (CDLR), the current ROC (Joel Greenblatt) % is 2.30% 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 Cadeler AS (CDLR) Overvalued in 2026?
Based on GuruFocus' analysis, Cadeler AS stock appears to be undervalued.
The current stock price of $21.11 is trading 65.3% below its estimated GF Value™ of $60.79.
GuruFocus considers Cadeler AS to be Possible Value Trap.
Key valuation signals for CDLR:
ROC (Joel Greenblatt) %: 2.30% (near median its 10-year median of 2.52)
GF Value™: $60.79 vs. price of $21.11 (65.3% below fair value)
Industry Position: 88.2% below the Construction median (#1081 of 1776)
No single metric tells the full story. See the CDLR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cadeler AS is an offshore wind installation vessel contractor. It currently operates various offshore jack-up wind installation vessels, with new builds on order. The Group operates within the market for the transportation and installation of offshore wind turbine generators (WTGs) and their foundations. In addition to wind farm installation, its vessels can perform maintenance, decommissioning, and other general construction tasks within the offshore industry. Cadler's customer base consists of offshore wind farm developers, original equipment manufacturers, and various offshore contractors. Geographically, the Group generates maximum revenue from the United States and the rest from the United Kingdom, Taiwan, Germany, Denmark, Poland, and other regions.
57GF Score
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