Karnov Group ABCHIX:KARS 75 ROC (Joel Greenblatt) % is 192.86% as of Mar. 2026, which is 55% above its 10-year median of 124.08. GuruFocus rates CHIX:KARS with a GF Score™ of 75/100 and a GF Value™ of kr117.71 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,081 Business Services companies, Karnov Group AB ranks better than 95.74% 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. Karnov Group AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 192.86%.
The historical rank and industry rank for Karnov Group AB's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:KARs'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 41.69 Med: 124.08 Max: 1293.42
Current: 588.22
During the past 10 years, Karnov Group AB's highest ROC (Joel Greenblatt) % was 1293.42%. The lowest was 41.69%. And the median was 124.08%.
CHIX:KARs's ROC (Joel Greenblatt) % is ranked better than 95.74% of 1081
companies
in the Business Services industry
Industry Median: 20.97
vs CHIX:KARs: 588.22
Karnov Group AB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 17.40% per year.
Karnov Group AB (CHIX:KARs) 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.
Karnov Group AB ROC (Joel Greenblatt) % Related Terms
Karnov Group AB ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Karnov Group AB'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:KARS vs CTAS, CPRT, ULS: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, Karnov Group AB'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.
Karnov Group AB ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Karnov Group AB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Karnov Group AB's ROC (Joel Greenblatt) % falls into.
Karnov Group AB 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 192.86% mean?
Karnov Group AB (CHIX:KARS) has a ROC (Joel Greenblatt) % of 192.86% 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 Karnov Group AB and its competitors. This is 55% above median its historical median of 124.08. Over the past decade, Karnov Group AB's ROC (Joel Greenblatt) % has ranged from 41.69 to 1,293.42. According to the industry distribution chart, Karnov Group AB ranks #46 out of 1081 companies in the Business Services industry, placing it in the top 4.3%.
Is Karnov Group AB's ROC (Joel Greenblatt) % too high?
Karnov Group AB's current ROC (Joel Greenblatt) % of 192.86% is 55% above median its 10-year median of 124.08. Over the past 10 years, this metric has ranged from a low of 41.69 to a high of 1,293.42. The Business Services industry median ROC (Joel Greenblatt) % is 20.97. Karnov Group AB's value of 192.86% is 819.7% above this industry median. Based on the distribution chart, Karnov Group AB ranks #46 out of 1081 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Karnov Group AB has a GF Score™ of 75/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Karnov Group AB's ROC (Joel Greenblatt) % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Karnov Group AB ranks #46 out of 1081 companies for ROC (Joel Greenblatt) %. This places Karnov Group AB in the top 4% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 20.97. Karnov Group AB's value of 192.86% is 819.7% above this benchmark. Historically, Karnov Group AB's own ROC (Joel Greenblatt) % has ranged from 41.69 to 1,293.42 over the past decade. While the company's 10-year median is 124.08 vs. the industry median of 20.97, Karnov Group AB 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. Karnov Group AB's current ROC (Joel Greenblatt) % of 192.86% is 819.7% 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 Karnov Group AB 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. Karnov Group AB's current ROC (Joel Greenblatt) % is 192.86%, which is 55% above median its own 10-year median of 124.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Karnov Group AB stock overvalued right now?
Based on GuruFocus' analysis, Karnov Group AB (CHIX:KARS) is currently considered Significantly Undervalued. The stock's GF Value™ is kr117.71, compared to a current price of kr64.30 — trading 45.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 192.86%, which is 55% above median its 10-year median of 124.08 and 819.7% above the Business Services industry median of 20.97. Karnov Group AB's overall GF Score™ is 75/100 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 Karnov Group AB (CHIX:KARS), the current ROC (Joel Greenblatt) % is 192.86% 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 Karnov Group AB (CHIX:KARS) Overvalued in 2026?
Based on GuruFocus' analysis, Karnov Group AB stock appears to be undervalued.
The current stock price of kr64.30 is trading 45.4% below its estimated GF Value™ of kr117.71.
GuruFocus considers Karnov Group AB to be Significantly Undervalued.
Key valuation signals for CHIX:KARS:
ROC (Joel Greenblatt) %: 192.86% (55% above median its 10-year median of 124.08)
GF Value™: kr117.71 vs. price of kr64.30 (45.4% below fair value)
Industry Position: 819.7% above the Business Services median (#46 of 1081)
No single metric tells the full story. See the CHIX:KARS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Karnov Group AB is a provider of mission-critical information in the areas of legal, tax and auditing, environment, and health and safety. Karnov's products include subscription-based online solutions for law firms, tax and accounting firms, corporates, and the public sector including, courts, universities, public authorities, and municipalities. Karnov also publishes and sells offline books and journals and hosts legal training courses. Its brands are Karnov Group Denmark, Norstedts Juridik, Aranzadi LA LEY, Lamy Liaisons, Notisum, Echoline, BELLA Intelligence. Geographically, it derives a majority of its revenue from Denmark and also has a presence in Sweden, Norway, France, Spain, and Portugal.
75GF Score
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