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Bright Smart Securitiesmmodities GroupFRA:0BX +3.01%38 ROC (Joel Greenblatt) % is 14.50% as of Mar. 2026, which is 16% above its 10-year median of 12.53. GuruFocus rates FRA:0BX with a GF Score™ of 38/100 and a GF Value™ of €0.32 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 676 Capital Markets companies, Bright Smart Securitiesmmodities Group ranks worse than 59.47% 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. Bright Smart Securitiesmmodities Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.50%.
FRA:0BX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.15 Med: 12.53 Max: 17.74
Current: 14.64
During the past 13 years, Bright Smart Securitiesmmodities Group's highest ROC (Joel Greenblatt) % was 17.74%. The lowest was 7.15%. And the median was 12.53%.
FRA:0BX's ROC (Joel Greenblatt) % is ranked worse than 59.47% of 676
companies
in the Capital Markets industry
Industry Median: 34.895
vs FRA:0BX: 14.64
Bright Smart Securitiesmmodities Group (FRA:0BX) 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.
* 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.
Bright Smart Securitiesmmodities Group ROC (Joel Greenblatt) % Chart
Bright Smart Securitiesmmodities Group Annual Data
FRA:0BX vs MS, GS, SCHW: ROC (Joel Greenblatt) % Comparison
For the Capital Markets subindustry, Bright Smart Securitiesmmodities 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.
Bright Smart Securitiesmmodities Group ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Bright Smart Securitiesmmodities Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Bright Smart Securitiesmmodities Group's ROC (Joel Greenblatt) % falls into.
Bright Smart Securitiesmmodities 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 (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 14.50% mean?
Bright Smart Securitiesmmodities Group (FRA:0BX) has a ROC (Joel Greenblatt) % of 14.50% 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 Bright Smart Securitiesmmodities Group and its competitors. This is 16% above median its historical median of 12.53. Over the past decade, Bright Smart Securitiesmmodities Group's ROC (Joel Greenblatt) % has ranged from 7.15 to 17.74. According to the industry distribution chart, Bright Smart Securitiesmmodities Group ranks #402 out of 676 companies in the Capital Markets industry, placing it in the top 59.5%.
Is Bright Smart Securitiesmmodities Group's ROC (Joel Greenblatt) % too high?
Bright Smart Securitiesmmodities Group's current ROC (Joel Greenblatt) % of 14.50% is 16% above median its 10-year median of 12.53. Over the past 10 years, this metric has ranged from a low of 7.15 to a high of 17.74. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.90. Bright Smart Securitiesmmodities Group's value of 14.50% is 58.4% below this industry median. Based on the distribution chart, Bright Smart Securitiesmmodities Group ranks #402 out of 676 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Bright Smart Securitiesmmodities Group has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bright Smart Securitiesmmodities Group's ROC (Joel Greenblatt) % compare to MS and GS?
According to the Capital Markets industry distribution chart, Bright Smart Securitiesmmodities Group ranks #402 out of 676 companies for ROC (Joel Greenblatt) %. This places Bright Smart Securitiesmmodities Group in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 34.90. Bright Smart Securitiesmmodities Group's value of 14.50% is 58.4% below this benchmark. Historically, Bright Smart Securitiesmmodities Group's own ROC (Joel Greenblatt) % has ranged from 7.15 to 17.74 over the past decade. While the company's 10-year median is 12.53 vs. the industry median of 34.90, Bright Smart Securitiesmmodities Group has consistently been below 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.90, based on 676 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. Bright Smart Securitiesmmodities Group's current ROC (Joel Greenblatt) % of 14.50% is 58.4% below 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 Bright Smart Securitiesmmodities Group and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bright Smart Securitiesmmodities Group's current ROC (Joel Greenblatt) % is 14.50%, which is 16% above median its own 10-year median of 12.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bright Smart Securitiesmmodities Group stock overvalued right now?
Based on GuruFocus' analysis, Bright Smart Securitiesmmodities Group (FRA:0BX) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.32, compared to a current price of €0.69 — trading 114.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 14.50%, which is 16% above median its 10-year median of 12.53 and 58.4% below the Capital Markets industry median of 34.90. Bright Smart Securitiesmmodities Group's overall GF Score™ is 38/100 with 8 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 Bright Smart Securitiesmmodities Group (FRA:0BX), the current ROC (Joel Greenblatt) % is 14.50% 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 Bright Smart Securitiesmmodities Group (FRA:0BX) Overvalued in 2026?
Based on GuruFocus' analysis, Bright Smart Securitiesmmodities Group stock appears to be overvalued.
The current stock price of €0.69 is trading 114.1% above its estimated GF Value™ of €0.32.
GuruFocus considers Bright Smart Securitiesmmodities Group to be Significantly Overvalued.
Key valuation signals for FRA:0BX:
ROC (Joel Greenblatt) %: 14.50% (16% above median its 10-year median of 12.53)
GF Value™: €0.32 vs. price of €0.69 (114.1% above fair value)
Industry Position: 58.4% below the Capital Markets median (#402 of 676)
No single metric tells the full story. See the FRA:0BX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bright Smart Securities & Commodities Group Ltd is a company that provides financial services, including securities broking, margin financing, commodities & futures broking, bullion trading and leveraged foreign exchange trading. The company operates via three segments. The Securities broking segment offers broking services in securities traded in Hong Kong and select overseas markets and provides margin financing services to its broking customers. The Commodities and futures broking segment offers broking services in commodities and futures contracts traded in Hong Kong and overseas markets. The Bullion trading segment provides trading services in bullion contracts traded overseas. The company generates majority of its revenue from the Securities broking segment.
38GF Score
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