Dr. MartensCHIX:DOCSL +0.42%52 ROC (Joel Greenblatt) % is 35.50% as of Mar. 2026, which is 50% below its 10-year median of 71.67. GuruFocus rates CHIX:DOCSL with a GF Score™ of 52/100 and a GF Value™ of £0.72 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,062 Manufacturing - Apparel & Accessories companies, Dr. Martens ranks better than 74.01% 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. Dr. Martens's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 35.50%.
The historical rank and industry rank for Dr. Martens's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:DOCSl'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.7 Med: 71.67 Max: 133.1
Current: 18.33
During the past 9 years, Dr. Martens's highest ROC (Joel Greenblatt) % was 133.10%. The lowest was 9.70%. And the median was 71.67%.
CHIX:DOCSl's ROC (Joel Greenblatt) % is ranked better than 74.01% of 1062
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 8.54
vs CHIX:DOCSl: 18.33
Dr. Martens's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -35.10% per year.
Dr. Martens (CHIX:DOCSl) 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.
Dr. Martens ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Dr. Martens'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:DOCSL vs NKE, DECK, ONON: ROC (Joel Greenblatt) % Comparison
For the Footwear & Accessories subindustry, Dr. Martens'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.
Dr. Martens ROC (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Dr. Martens's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Dr. Martens'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 two times the semi-annual (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 35.50% mean?
Dr. Martens (CHIX:DOCSL) has a ROC (Joel Greenblatt) % of 35.50% 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 Dr. Martens and its competitors. This is 50% below median its historical median of 71.67. Over the past decade, Dr. Martens' ROC (Joel Greenblatt) % has ranged from 9.70 to 133.10. According to the industry distribution chart, Dr. Martens ranks #276 out of 1062 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 26%.
Is Dr. Martens' ROC (Joel Greenblatt) % too high?
Dr. Martens' current ROC (Joel Greenblatt) % of 35.50% is 50% below median its 10-year median of 71.67. Over the past 10 years, this metric has ranged from a low of 9.70 to a high of 133.10. The Manufacturing - Apparel & Accessories industry median ROC (Joel Greenblatt) % is 8.54. Dr. Martens' value of 35.50% is 315.7% above this industry median. Based on the distribution chart, Dr. Martens ranks #276 out of 1062 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Dr. Martens has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dr. Martens' ROC (Joel Greenblatt) % compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Dr. Martens ranks #276 out of 1062 companies for ROC (Joel Greenblatt) %. This puts Dr. Martens in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.54. Dr. Martens' value of 35.50% is 315.7% above this benchmark. Historically, Dr. Martens' own ROC (Joel Greenblatt) % has ranged from 9.70 to 133.10 over the past decade. While the company's 10-year median is 71.67 vs. the industry median of 8.54, Dr. Martens 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 Manufacturing - Apparel & Accessories company?
The median ROC (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 8.54, based on 1,062 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. Dr. Martens's current ROC (Joel Greenblatt) % of 35.50% is 315.7% 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 Dr. Martens and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROC (Joel Greenblatt) % is 8.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dr. Martens's current ROC (Joel Greenblatt) % is 35.50%, which is 50% below median its own 10-year median of 71.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dr. Martens stock overvalued right now?
Based on GuruFocus' analysis, Dr. Martens (CHIX:DOCSL) is currently considered Fairly Valued. The stock's GF Value™ is £0.72, compared to a current price of £0.72 — trading 0.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 35.50%, which is 50% below median its 10-year median of 71.67 and 315.7% above the Manufacturing - Apparel & Accessories industry median of 8.54. Dr. Martens' overall GF Score™ is 52/100 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 Dr. Martens (CHIX:DOCSL), the current ROC (Joel Greenblatt) % is 35.50% 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 Dr. Martens (CHIX:DOCSL) Overvalued in 2026?
Based on GuruFocus' analysis, Dr. Martens stock appears to be overvalued.
The current stock price of £0.72 is trading 0.1% above its estimated GF Value™ of £0.72.
GuruFocus considers Dr. Martens to be Fairly Valued.
Key valuation signals for CHIX:DOCSL:
ROC (Joel Greenblatt) %: 35.50% (50% below median its 10-year median of 71.67)
GF Value™: £0.72 vs. price of £0.72 (0.1% above fair value)
Industry Position: 315.7% above the Manufacturing - Apparel & Accessories median (#276 of 1062)
No single metric tells the full story. See the CHIX:DOCSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dr. Martens PLC is engaged in the footwear business. Its product segments include Originals, Fusion, Kids and Casual, and a complementary range of Accessories. The company has sales through E-commerce, Retail, and Wholesale of Products. Geographically, it derives the majority of its revenue from EMEA and has a presence in the Americas and APAC.
52GF Score
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