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Games Workshop GroupCHIX:GAWL -1.08%97 ROC (Joel Greenblatt) % is 232.32% as of Nov. 2025, which is 35% above its 10-year median of 172.32. GuruFocus rates CHIX:GAWL with a GF Score™ of 97/100 and a GF Value™ of £147.04 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 847 Travel & Leisure companies, Games Workshop Group ranks better than 93.51% 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. Games Workshop Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2025 was 232.32%.
The historical rank and industry rank for Games Workshop Group's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:GAWl'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 74.78 Med: 172.32 Max: 285.07
Current: 236.45
During the past 13 years, Games Workshop Group's highest ROC (Joel Greenblatt) % was 285.07%. The lowest was 74.78%. And the median was 172.32%.
CHIX:GAWl's ROC (Joel Greenblatt) % is ranked better than 93.51% of 847
companies
in the Travel & Leisure industry
Industry Median: 9.91
vs CHIX:GAWl: 236.45
Games Workshop Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.70% per year.
Games Workshop Group (CHIX:GAWl) 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.
Games Workshop Group ROC (Joel Greenblatt) % Related Terms
Games Workshop Group ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Games Workshop Group'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.
Games Workshop Group ROC (Joel Greenblatt) % Chart
CHIX:GAWL vs AS, HAS, LTH: ROC (Joel Greenblatt) % Comparison
For the Leisure subindustry, Games Workshop Group'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.
Games Workshop Group ROC (Joel Greenblatt) % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Games Workshop Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Games Workshop Group's ROC (Joel Greenblatt) % falls into.
Games Workshop Group 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 (Nov. 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 232.32% mean?
Games Workshop Group (CHIX:GAWL) has a ROC (Joel Greenblatt) % of 232.32% as of Nov. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Games Workshop Group and its competitors. This is 35% above median its historical median of 172.32. Over the past decade, Games Workshop Group's ROC (Joel Greenblatt) % has ranged from 74.78 to 285.07. According to the industry distribution chart, Games Workshop Group ranks #55 out of 847 companies in the Travel & Leisure industry, placing it in the top 6.5%.
Is Games Workshop Group's ROC (Joel Greenblatt) % too high?
Games Workshop Group's current ROC (Joel Greenblatt) % of 232.32% is 35% above median its 10-year median of 172.32. Over the past 10 years, this metric has ranged from a low of 74.78 to a high of 285.07. The Travel & Leisure industry median ROC (Joel Greenblatt) % is 9.91. Games Workshop Group's value of 232.32% is 2244.3% above this industry median. Based on the distribution chart, Games Workshop Group ranks #55 out of 847 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Games Workshop Group has a GF Score™ of 97/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Games Workshop Group's ROC (Joel Greenblatt) % compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Games Workshop Group ranks #55 out of 847 companies for ROC (Joel Greenblatt) %. This places Games Workshop Group in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.91. Games Workshop Group's value of 232.32% is 2244.3% above this benchmark. Historically, Games Workshop Group's own ROC (Joel Greenblatt) % has ranged from 74.78 to 285.07 over the past decade. While the company's 10-year median is 172.32 vs. the industry median of 9.91, Games Workshop Group 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 Travel & Leisure company?
The median ROC (Joel Greenblatt) % among Travel & Leisure companies is 9.91, based on 847 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. Games Workshop Group's current ROC (Joel Greenblatt) % of 232.32% is 2244.3% 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 Games Workshop Group and its competitors. For the Travel & Leisure industry, the median ROC (Joel Greenblatt) % is 9.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Games Workshop Group's current ROC (Joel Greenblatt) % is 232.32%, which is 35% above median its own 10-year median of 172.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Games Workshop Group stock overvalued right now?
Based on GuruFocus' analysis, Games Workshop Group (CHIX:GAWL) is currently considered Significantly Overvalued. The stock's GF Value™ is £147.04, compared to a current price of £201.40 — trading 37% above its estimated fair value. The current ROC (Joel Greenblatt) % is 232.32%, which is 35% above median its 10-year median of 172.32 and 2244.3% above the Travel & Leisure industry median of 9.91. Games Workshop Group's overall GF Score™ is 97/100 with 5 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 Games Workshop Group (CHIX:GAWL), the current ROC (Joel Greenblatt) % is 232.32% as of Nov. 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 Games Workshop Group (CHIX:GAWL) Overvalued in 2026?
Based on GuruFocus' analysis, Games Workshop Group stock appears to be overvalued.
The current stock price of £201.40 is trading 37% above its estimated GF Value™ of £147.04.
GuruFocus considers Games Workshop Group to be Significantly Overvalued.
Key valuation signals for CHIX:GAWL:
ROC (Joel Greenblatt) %: 232.32% (35% above median its 10-year median of 172.32)
GF Value™: £147.04 vs. price of £201.40 (37% above fair value)
Industry Position: 2244.3% above the Travel & Leisure median (#55 of 847)
No single metric tells the full story. See the CHIX:GAWL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Games Workshop Group PLC designs, manufactures and sells fantasy miniatures and games related products. It carries the manufacturing activity in the UK and sells the same in the different region of the countries such as Continental Europe, North America, and Asia Pacific. It operates through two segments Core and Licensing . The core segment includes all revenue and expenditure relating to the design, manufacture and sales of their fantasy miniatures and related products. The licensing segment includes all revenue and expenditure relating to licences granted to external partners. The company generates majority of its revenue from the core segment.
97GF Score
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