Fiera Milano SpACHIX:FMM 72 ROC (Joel Greenblatt) % is 48.50% as of Mar. 2026, which is 301% above its 10-year median of 12.10. GuruFocus rates CHIX:FMM with a GF Score™ of 72/100 and a GF Value™ of €2.26. The stock has 3 warning signs investors should review. Among 1,081 Business Services companies, Fiera Milano SpA ranks better than 64.75% 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. Fiera Milano SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 48.50%.
The historical rank and industry rank for Fiera Milano SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:FMm'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -154.14 Med: 12.1 Max: 205.62
Current: 40.36
During the past 13 years, Fiera Milano SpA's highest ROC (Joel Greenblatt) % was 205.62%. The lowest was -154.14%. And the median was 12.10%.
CHIX:FMm's ROC (Joel Greenblatt) % is ranked better than 64.75% of 1081
companies
in the Business Services industry
Industry Median: 20.97
vs CHIX:FMm: 40.36
Fiera Milano SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Fiera Milano SpA (CHIX:FMm) 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.
Fiera Milano SpA ROC (Joel Greenblatt) % Related Terms
Fiera Milano SpA ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Fiera Milano SpA'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:FMM vs CTAS, CPRT, ULS: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, Fiera Milano SpA'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.
Fiera Milano SpA ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Fiera Milano SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Fiera Milano SpA's ROC (Joel Greenblatt) % falls into.
Fiera Milano SpA 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 (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 48.50% mean?
Fiera Milano SpA (CHIX:FMM) has a ROC (Joel Greenblatt) % of 48.50% 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 Fiera Milano SpA and its competitors. This is 301% above median its historical median of 12.10. According to the industry distribution chart, Fiera Milano SpA ranks #381 out of 1081 companies in the Business Services industry, placing it in the top 35.2%.
Is Fiera Milano SpA's ROC (Joel Greenblatt) % too high?
Fiera Milano SpA's current ROC (Joel Greenblatt) % of 48.50% is 301% above median its 10-year median of 12.10. The Business Services industry median ROC (Joel Greenblatt) % is 20.97. Fiera Milano SpA's value of 48.50% is 131.3% above this industry median. Based on the distribution chart, Fiera Milano SpA ranks #381 out of 1081 companies in the Business Services industry, which is above the industry midpoint. Overall, Fiera Milano SpA has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Fiera Milano SpA's ROC (Joel Greenblatt) % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Fiera Milano SpA ranks #381 out of 1081 companies for ROC (Joel Greenblatt) %. This puts Fiera Milano SpA in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 20.97. Fiera Milano SpA's value of 48.50% is 131.3% above this benchmark. While the company's 10-year median is 12.10 vs. the industry median of 20.97, Fiera Milano SpA 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 20.97, based on 1,081 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. Fiera Milano SpA's current ROC (Joel Greenblatt) % of 48.50% is 131.3% 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 Fiera Milano SpA and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 20.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fiera Milano SpA's current ROC (Joel Greenblatt) % is 48.50%, which is 301% above median its own 10-year median of 12.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fiera Milano SpA stock overvalued right now?
Fiera Milano SpA (CHIX:FMM) has a current ROC (Joel Greenblatt) % of 48.50%. The stock's GF Value™ is €2.26, compared to a current price of €3.13 — trading 38.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 48.50%, which is 301% above median its 10-year median of 12.10 and 131.3% above the Business Services industry median of 20.97. Fiera Milano SpA's overall GF Score™ is 72/100 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 Fiera Milano SpA (CHIX:FMM), the current ROC (Joel Greenblatt) % is 48.50% 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 Fiera Milano SpA (CHIX:FMM) Overvalued in 2026?
Based on GuruFocus' analysis, Fiera Milano SpA stock appears to be overvalued.
The current stock price of €3.13 is trading 38.5% above its estimated GF Value™ of €2.26.
Key valuation signals for CHIX:FMM:
ROC (Joel Greenblatt) %: 48.50% (301% above median its 10-year median of 12.10)
GF Value™: €2.26 vs. price of €3.13 (38.5% above fair value)
Industry Position: 131.3% above the Business Services median (#381 of 1081)
No single metric tells the full story. See the CHIX:FMM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fiera Milano SpA is a trade fair company. Its operating segments include Italian Exhibitions Business, Foreign Exhibitions Business, Congresses, and Other Sectors. The Italian Exhibitions and Foreign Exhibitions segment covers all activities for organizing and hosting exhibitions and other events in Italy and abroad through the use, promotion, and offer of furnished exhibition spaces, project support, and ancillary services. It also engages in stand-fitting, technical, and exhibition site services. The Congresses segment covers the management of conferences and events. It generates the majority of the revenue from Italian exhibitions segment. Geographically, it operates in Italy and Abroad, where it derives maximum revenue from Italy.
72GF Score
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