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. Chapters Group AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -54.54%.
The historical rank and industry rank for Chapters Group AG's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:CHGd'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -5231.41 Med: -9.07 Max: 5641.56
Current: -56.2
During the past 13 years, Chapters Group AG's highest ROC (Joel Greenblatt) % was 5641.56%. The lowest was -5231.41%. And the median was -9.07%.
CHIX:CHGd's ROC (Joel Greenblatt) % is ranked worse than 74.63% of 2799
companies
in the Software industry
Industry Median: 19.62
vs CHIX:CHGd: -56.20
Chapters Group AG's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Chapters Group AG (CHIX:CHGd) 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.
Chapters Group AG ROC (Joel Greenblatt) % Related Terms
Chapters Group AG ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Chapters Group AG'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.
CHIX:CHGD vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Chapters Group AG'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.
Chapters Group AG ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Chapters Group AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Chapters Group AG's ROC (Joel Greenblatt) % falls into.
Chapters Group AG 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 two times the semi-annual (Dec. 2025) 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 -54.54% mean?
Chapters Group AG (CHIX:CHGD) has a ROC (Joel Greenblatt) % of -54.54% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Chapters Group AG and its competitors. According to the industry distribution chart, Chapters Group AG ranks #2089 out of 2799 companies in the Software industry, placing it in the top 74.6%.
Is Chapters Group AG's ROC (Joel Greenblatt) % too high?
Chapters Group AG's current ROC (Joel Greenblatt) % is -54.54%. Based on the distribution chart, Chapters Group AG ranks #2089 out of 2799 companies in the Software industry, which is below the industry midpoint. Overall, Chapters Group AG has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does Chapters Group AG's ROC (Joel Greenblatt) % compare to IBM and ACN?
According to the Software industry distribution chart, Chapters Group AG ranks #2089 out of 2799 companies for ROC (Joel Greenblatt) %. This places Chapters Group AG in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.62. 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.62, based on 2,799 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. 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 Chapters Group AG and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chapters Group AG's current ROC (Joel Greenblatt) % is -54.54%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chapters Group AG stock overvalued right now?
Chapters Group AG (CHIX:CHGD) has a current ROC (Joel Greenblatt) % of -54.54%. The stock's GF Value™ is €42.95, compared to a current price of €37.15 — trading 13.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is -54.54%. Chapters Group AG's overall GF Score™ is 70/100 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 Chapters Group AG (CHIX:CHGD), the current ROC (Joel Greenblatt) % is -54.54% as of Dec. 2025. 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 Chapters Group AG (CHIX:CHGD) Overvalued in 2026?
Based on GuruFocus' analysis, Chapters Group AG stock appears to be undervalued.
The current stock price of €37.15 is trading 13.5% below its estimated GF Value™ of €42.95.
Key valuation signals for CHIX:CHGD:
ROC (Joel Greenblatt) %: -54.54%
GF Value™: €42.95 vs. price of €37.15 (13.5% below fair value)
No single metric tells the full story. See the CHIX:CHGD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chapters Group AG is a holding company that invests in attractive small- and mid-sized enterprises and pursues a long-term entrepreneurial investment approach. The Group is focused on providing mission-critical digital solutions through a portfolio of operating companies and operates through three segments: Public Sector, Enterprise, and Financial Technologies. The Public Sector segment, which generates the maximum revenue, provides software solutions for municipalities, public administration, social services, education, transportation, utilities, cybersecurity, homeland security, telecommunications, and non-profit institutions.
70GF 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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