Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Bulgarian Stock Exchange ADFRA:0KP 59 ROC (Joel Greenblatt) % is 116.48% as of Mar. 2026, which is 55% below its 10-year median of 259.47. GuruFocus rates FRA:0KP with a GF Score™ of 59/100 and a GF Value™ of €9.93 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 677 Capital Markets companies, Bulgarian Stock Exchange AD ranks better than 64.55% 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. Bulgarian Stock Exchange AD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 116.48%.
The historical rank and industry rank for Bulgarian Stock Exchange AD's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:0KP'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -32.94 Med: 259.47 Max: 793.76
Current: 110.78
During the past 13 years, Bulgarian Stock Exchange AD's highest ROC (Joel Greenblatt) % was 793.76%. The lowest was -32.94%. And the median was 259.47%.
FRA:0KP's ROC (Joel Greenblatt) % is ranked better than 64.55% of 677
companies
in the Capital Markets industry
Industry Median: 35.03
vs FRA:0KP: 110.78
Bulgarian Stock Exchange AD (FRA:0KP) 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.
Bulgarian Stock Exchange AD ROC (Joel Greenblatt) % Chart
FRA:0KP vs SPGI, CME, ICE: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, Bulgarian Stock Exchange AD'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.
Bulgarian Stock Exchange AD ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Bulgarian Stock Exchange AD's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Bulgarian Stock Exchange AD's ROC (Joel Greenblatt) % falls into.
Bulgarian Stock Exchange AD 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 116.48% mean?
Bulgarian Stock Exchange AD (FRA:0KP) has a ROC (Joel Greenblatt) % of 116.48% 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 Bulgarian Stock Exchange AD and its competitors. This is 55% below median its historical median of 259.47. According to the industry distribution chart, Bulgarian Stock Exchange AD ranks #240 out of 677 companies in the Capital Markets industry, placing it in the top 35.5%.
Is Bulgarian Stock Exchange AD's ROC (Joel Greenblatt) % too high?
Bulgarian Stock Exchange AD's current ROC (Joel Greenblatt) % of 116.48% is 55% below median its 10-year median of 259.47. The Capital Markets industry median ROC (Joel Greenblatt) % is 35.03. Bulgarian Stock Exchange AD's value of 116.48% is 232.5% above this industry median. Based on the distribution chart, Bulgarian Stock Exchange AD ranks #240 out of 677 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Bulgarian Stock Exchange AD has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bulgarian Stock Exchange AD's ROC (Joel Greenblatt) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Bulgarian Stock Exchange AD ranks #240 out of 677 companies for ROC (Joel Greenblatt) %. This puts Bulgarian Stock Exchange AD in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 35.03. Bulgarian Stock Exchange AD's value of 116.48% is 232.5% above this benchmark. While the company's 10-year median is 259.47 vs. the industry median of 35.03, Bulgarian Stock Exchange AD 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 35.03, based on 677 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. Bulgarian Stock Exchange AD's current ROC (Joel Greenblatt) % of 116.48% is 232.5% 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 Bulgarian Stock Exchange AD and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 35.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bulgarian Stock Exchange AD's current ROC (Joel Greenblatt) % is 116.48%, which is 55% below median its own 10-year median of 259.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bulgarian Stock Exchange AD stock overvalued right now?
Based on GuruFocus' analysis, Bulgarian Stock Exchange AD (FRA:0KP) is currently considered Possible Value Trap. The stock's GF Value™ is €9.93, compared to a current price of €7.00 — trading 29.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 116.48%, which is 55% below median its 10-year median of 259.47 and 232.5% above the Capital Markets industry median of 35.03. Bulgarian Stock Exchange AD's overall GF Score™ is 59/100 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 Bulgarian Stock Exchange AD (FRA:0KP), the current ROC (Joel Greenblatt) % is 116.48% 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 Bulgarian Stock Exchange AD (FRA:0KP) Overvalued in 2026?
Based on GuruFocus' analysis, Bulgarian Stock Exchange AD stock appears to be undervalued.
The current stock price of €7.00 is trading 29.5% below its estimated GF Value™ of €9.93.
GuruFocus considers Bulgarian Stock Exchange AD to be Possible Value Trap.
Key valuation signals for FRA:0KP:
ROC (Joel Greenblatt) %: 116.48% (55% below median its 10-year median of 259.47)
GF Value™: €9.93 vs. price of €7.00 (29.5% below fair value)
Industry Position: 232.5% above the Capital Markets median (#240 of 677)
No single metric tells the full story. See the FRA:0KP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bulgarian Stock Exchange AD is functioning stock exchange in Bulgaria. The principal activity of the group is to organize trade in securities and other financial instruments; organize and maintain an information system for security deals; and establish and maintain a clearing system. It has aggregated its operations into three reportable segments - Trading in Financial Instruments, Information Services, and Registration of Issues for Trading. It offers a wide range of RSS information services to serve the corporate clients, such as data-vendors, investment intermediaries, and issuers. The group performs their activities in Bulgaria only.
59GF Score
Get the complete analysis for FRA:0KP
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:0KP has been successfully added to your 
