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National BeverageFRA:20V -0.75%71 ROC (Joel Greenblatt) % is 56.36% as of Apr. 2026, which is 35% below its 10-year median of 87.26. GuruFocus rates FRA:20V with a GF Score™ of 71/100 and a GF Value™ of €39.14. The stock has 1 warning sign investors should review. Among 116 Beverages - Non-Alcoholic companies, National Beverage ranks better than 85.34% 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. National Beverage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 56.36%.
The historical rank and industry rank for National Beverage's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:20V'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 66.01 Med: 87.26 Max: 160.69
Current: 66.01
During the past 13 years, National Beverage's highest ROC (Joel Greenblatt) % was 160.69%. The lowest was 66.01%. And the median was 87.26%.
FRA:20V's ROC (Joel Greenblatt) % is ranked better than 85.34% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 20.385
vs FRA:20V: 66.01
National Beverage's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -8.10% per year.
National Beverage (FRA:20V) 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.
National Beverage ROC (Joel Greenblatt) % Related Terms
National Beverage ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for National Beverage'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.
FRA:20V vs COCO, SUJA, BUDA: ROC (Joel Greenblatt) % Comparison
For the Beverages - Non-Alcoholic subindustry, National Beverage'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.
National Beverage ROC (Joel Greenblatt) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, National Beverage's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where National Beverage's ROC (Joel Greenblatt) % falls into.
National Beverage 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 (Apr. 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 56.36% mean?
National Beverage (FRA:20V) has a ROC (Joel Greenblatt) % of 56.36% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on National Beverage and its competitors. This is 35% below median its historical median of 87.26. Over the past decade, National Beverage's ROC (Joel Greenblatt) % has ranged from 66.01 to 160.69. According to the industry distribution chart, National Beverage ranks #17 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 14.7%.
Is National Beverage's ROC (Joel Greenblatt) % too high?
National Beverage's current ROC (Joel Greenblatt) % of 56.36% is 35% below median its 10-year median of 87.26. Over the past 10 years, this metric has ranged from a low of 66.01 to a high of 160.69. The Beverages - Non-Alcoholic industry median ROC (Joel Greenblatt) % is 20.39. National Beverage's value of 56.36% is 176.5% above this industry median. Based on the distribution chart, National Beverage ranks #17 out of 116 companies in the Beverages - Non-Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, National Beverage has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does National Beverage's ROC (Joel Greenblatt) % compare to COCO and SUJA?
According to the Beverages - Non-Alcoholic industry distribution chart, National Beverage ranks #17 out of 116 companies for ROC (Joel Greenblatt) %. This places National Beverage in the top 15% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 20.39. National Beverage's value of 56.36% is 176.5% above this benchmark. Historically, National Beverage's own ROC (Joel Greenblatt) % has ranged from 66.01 to 160.69 over the past decade. While the company's 10-year median is 87.26 vs. the industry median of 20.39, National Beverage 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 Beverages - Non-Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Non-Alcoholic companies is 20.39, based on 116 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. National Beverage's current ROC (Joel Greenblatt) % of 56.36% is 176.5% 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 National Beverage and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC (Joel Greenblatt) % is 20.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Beverage's current ROC (Joel Greenblatt) % is 56.36%, which is 35% below median its own 10-year median of 87.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Beverage stock overvalued right now?
National Beverage (FRA:20V) has a current ROC (Joel Greenblatt) % of 56.36%. The stock's GF Value™ is €39.14, compared to a current price of €26.40 — trading 32.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 56.36%, which is 35% below median its 10-year median of 87.26 and 176.5% above the Beverages - Non-Alcoholic industry median of 20.39. National Beverage's overall GF Score™ is 71/100 with 1 warning sign 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 National Beverage (FRA:20V), the current ROC (Joel Greenblatt) % is 56.36% as of Apr. 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 National Beverage (FRA:20V) Overvalued in 2026?
Based on GuruFocus' analysis, National Beverage stock appears to be undervalued.
The current stock price of €26.40 is trading 32.5% below its estimated GF Value™ of €39.14.
Key valuation signals for FRA:20V:
ROC (Joel Greenblatt) %: 56.36% (35% below median its 10-year median of 87.26)
GF Value™: €39.14 vs. price of €26.40 (32.5% below fair value)
Industry Position: 176.5% above the Beverages - Non-Alcoholic median (#17 of 116)
No single metric tells the full story. See the FRA:20V stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Beverage Corp is a non-alcoholic beverage company in the U.S. Its portfolio skews toward functional drinks (that is those purporting to offer health benefits) and is anchored by the popular LaCroix sparkling water trademark. Other offerings include Rip It energy drinks, Everfresh juices, and soda brands like Shasta and Faygo. The firm controls the majority of its production and distribution apparatus, with very little outsourcing. In terms of go-to-market, it uses warehouse distribution for retailers, direct-store delivery for convenience stores and other small outlets, and food-service distributors for the food-service channel (schools, hospitals, restaurants).
71GF Score
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