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RaySearch Laboratories ABCHIX:RAYBS 93 ROC (Joel Greenblatt) % is 61.71% as of Mar. 2026, which is 67% above its 10-year median of 37.01. GuruFocus rates CHIX:RAYBS with a GF Score™ of 93/100 and a GF Value™ of kr181.49 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 669 Healthcare Providers & Services companies, RaySearch Laboratories AB ranks better than 84.16% 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. RaySearch Laboratories AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 61.71%.
The historical rank and industry rank for RaySearch Laboratories AB's ROC (Joel Greenblatt) % or its related term are showing as below:
CHIX:RAYBs'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -12.34 Med: 37.01 Max: 112.23
Current: 61.35
During the past 13 years, RaySearch Laboratories AB's highest ROC (Joel Greenblatt) % was 112.23%. The lowest was -12.34%. And the median was 37.01%.
CHIX:RAYBs's ROC (Joel Greenblatt) % is ranked better than 84.16% of 669
companies
in the Healthcare Providers & Services industry
Industry Median: 12.46
vs CHIX:RAYBs: 61.35
RaySearch Laboratories AB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
RaySearch Laboratories AB (CHIX:RAYBs) 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.
RaySearch Laboratories AB ROC (Joel Greenblatt) % Related Terms
RaySearch Laboratories AB ROC (Joel Greenblatt) % Historical Data
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The historical data trend for RaySearch Laboratories 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.
RaySearch Laboratories AB ROC (Joel Greenblatt) % Chart
CHIX:RAYBS vs VEEV, BTSG, TEM: ROC (Joel Greenblatt) % Comparison
For the Health Information Services subindustry, RaySearch Laboratories 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.
RaySearch Laboratories AB ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, RaySearch Laboratories AB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where RaySearch Laboratories AB's ROC (Joel Greenblatt) % falls into.
RaySearch Laboratories 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 61.71% mean?
RaySearch Laboratories AB (CHIX:RAYBS) has a ROC (Joel Greenblatt) % of 61.71% 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 RaySearch Laboratories AB and its competitors. This is 67% above median its historical median of 37.01. According to the industry distribution chart, RaySearch Laboratories AB ranks #106 out of 669 companies in the Healthcare Providers & Services industry, placing it in the top 15.8%.
Is RaySearch Laboratories AB's ROC (Joel Greenblatt) % too high?
RaySearch Laboratories AB's current ROC (Joel Greenblatt) % of 61.71% is 67% above median its 10-year median of 37.01. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.46. RaySearch Laboratories AB's value of 61.71% is 395.3% above this industry median. Based on the distribution chart, RaySearch Laboratories AB ranks #106 out of 669 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, RaySearch Laboratories AB has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does RaySearch Laboratories AB's ROC (Joel Greenblatt) % compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, RaySearch Laboratories AB ranks #106 out of 669 companies for ROC (Joel Greenblatt) %. This places RaySearch Laboratories AB in the top 16% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.46. RaySearch Laboratories AB's value of 61.71% is 395.3% above this benchmark. While the company's 10-year median is 37.01 vs. the industry median of 12.46, RaySearch Laboratories 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 Healthcare Providers & Services company?
The median ROC (Joel Greenblatt) % among Healthcare Providers & Services companies is 12.46, based on 669 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. RaySearch Laboratories AB's current ROC (Joel Greenblatt) % of 61.71% is 395.3% 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 RaySearch Laboratories AB and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. RaySearch Laboratories AB's current ROC (Joel Greenblatt) % is 61.71%, which is 67% above median its own 10-year median of 37.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RaySearch Laboratories AB stock overvalued right now?
Based on GuruFocus' analysis, RaySearch Laboratories AB (CHIX:RAYBS) is currently considered Modestly Overvalued. The stock's GF Value™ is kr181.49, compared to a current price of kr234.70 — trading 29.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 61.71%, which is 67% above median its 10-year median of 37.01 and 395.3% above the Healthcare Providers & Services industry median of 12.46. RaySearch Laboratories AB's overall GF Score™ is 93/100 with 2 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 RaySearch Laboratories AB (CHIX:RAYBS), the current ROC (Joel Greenblatt) % is 61.71% 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 RaySearch Laboratories AB (CHIX:RAYBS) Overvalued in 2026?
Based on GuruFocus' analysis, RaySearch Laboratories AB stock appears to be overvalued.
The current stock price of kr234.70 is trading 29.3% above its estimated GF Value™ of kr181.49.
GuruFocus considers RaySearch Laboratories AB to be Modestly Overvalued.
Key valuation signals for CHIX:RAYBS:
ROC (Joel Greenblatt) %: 61.71% (67% above median its 10-year median of 37.01)
GF Value™: kr181.49 vs. price of kr234.70 (29.3% above fair value)
Industry Position: 395.3% above the Healthcare Providers & Services median (#106 of 669)
No single metric tells the full story. See the CHIX:RAYBS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
RaySearch Laboratories AB is a Sweden-based medical technology company. The company develops software solutions for improved cancer treatment. The company develops and markets the RayStation treatment planning system and RayCare oncology information system to clinics all over the world and distributes products through licensing agreements with medical technology companies. Its geographic segments consist of the Americas, Asia-Pacific & Middle East, Europe, and the rest of world.
93GF Score
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