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. Cannae Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -68.19%.
The historical rank and industry rank for Cannae Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
CNNE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -136.36 Med: -55.78 Max: 622.77
Current: -51.19
During the past 11 years, Cannae Holdings's highest ROC (Joel Greenblatt) % was 622.77%. The lowest was -136.36%. And the median was -55.78%.
CNNE's ROC (Joel Greenblatt) % is ranked worse than 93.11% of 363
companies
in the Restaurants industry
Industry Median: 8.45
vs CNNE: -51.19
Cannae Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
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.
Cannae Holdings ROC (Joel Greenblatt) % Related Terms
Cannae Holdings ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Cannae Holdings'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.
CNNE vs KRUS, LOCO, BLMN: ROC (Joel Greenblatt) % Comparison
For the Restaurants subindustry, Cannae Holdings'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.
Cannae Holdings ROC (Joel Greenblatt) % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Cannae Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Cannae Holdings'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 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 -68.19% mean?
Cannae Holdings (CNNE) has a ROC (Joel Greenblatt) % of -68.19% 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 Cannae Holdings and its competitors. According to the industry distribution chart, Cannae Holdings ranks #338 out of 363 companies in the Restaurants industry, placing it in the top 93.1%.
Is Cannae Holdings' ROC (Joel Greenblatt) % too high?
Cannae Holdings' current ROC (Joel Greenblatt) % is -68.19%. Based on the distribution chart, Cannae Holdings ranks #338 out of 363 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Cannae Holdings has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cannae Holdings' ROC (Joel Greenblatt) % compare to KRUS and LOCO?
According to the Restaurants industry distribution chart, Cannae Holdings ranks #338 out of 363 companies for ROC (Joel Greenblatt) %. This places Cannae Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.45. 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 Restaurants company?
The median ROC (Joel Greenblatt) % among Restaurants companies is 8.45, based on 363 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. 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 Cannae Holdings and its competitors. For the Restaurants industry, the median ROC (Joel Greenblatt) % is 8.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cannae Holdings's current ROC (Joel Greenblatt) % is -68.19%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cannae Holdings stock overvalued right now?
Based on GuruFocus' analysis, Cannae Holdings (CNNE) is currently considered Possible Value Trap. The stock's GF Value™ is $20.97, compared to a current price of $14.25 — trading 32% below its estimated fair value. The current ROC (Joel Greenblatt) % is -68.19%. Cannae Holdings' overall GF Score™ is 57/100 with 7 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 Cannae Holdings (CNNE), the current ROC (Joel Greenblatt) % is -68.19% 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 Cannae Holdings (CNNE) Overvalued in 2026?
Based on GuruFocus' analysis, Cannae Holdings stock appears to be undervalued.
The current stock price of $14.25 is trading 32% below its estimated GF Value™ of $20.97.
GuruFocus considers Cannae Holdings to be Possible Value Trap.
Key valuation signals for CNNE:
ROC (Joel Greenblatt) %: -68.19%
GF Value™: $20.97 vs. price of $14.25 (32% below fair value)
No single metric tells the full story. See the CNNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cannae Holdings Inc is an investment holding company that acquires and actively manages equity interests in operating businesses across various industries. The Company focuses on long-term ownership and seeks to create value by supporting the growth and operations of its portfolio companies through management expertise and strategic oversight. The Company operates through four reportable segments: Restaurant Group, which includes the operations of O'Charleys and 99 Restaurants; Alight, which represents its ownership interest in a technology-enabled human capital and employee benefits solutions provider; Black Knight Football Club (BKFC), which holds interests in professional football clubs; and JANA, which represents its investment in an investment management firm.
57GF Score
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