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HealthEquityFRA:2HE -1.74%93 ROC (Joel Greenblatt) % is 421.67% as of Apr. 2026, which is 157% above its 10-year median of 164.06. GuruFocus rates FRA:2HE with a GF Score™ of 93/100 and a GF Value™ of €91.42. The stock has 3 warning signs investors should review. Among 666 Healthcare Providers & Services companies, HealthEquity ranks better than 95.2% 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. HealthEquity's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 421.67%.
The historical rank and industry rank for HealthEquity's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:2HE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -28.9 Med: 164.06 Max: 612.5
Current: 311.65
During the past 13 years, HealthEquity's highest ROC (Joel Greenblatt) % was 612.50%. The lowest was -28.90%. And the median was 164.06%.
FRA:2HE's ROC (Joel Greenblatt) % is ranked better than 95.2% of 666
companies
in the Healthcare Providers & Services industry
Industry Median: 12.485
vs FRA:2HE: 311.65
HealthEquity'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.
HealthEquity ROC (Joel Greenblatt) % Related Terms
HealthEquity ROC (Joel Greenblatt) % Historical Data
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The historical data trend for HealthEquity'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:2HE vs HNGE, TEM, TXG: ROC (Joel Greenblatt) % Comparison
For the Health Information Services subindustry, HealthEquity'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.
HealthEquity ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, HealthEquity's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where HealthEquity'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 (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 421.67% mean?
HealthEquity (FRA:2HE) has a ROC (Joel Greenblatt) % of 421.67% 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 HealthEquity and its competitors. This is 157% above median its historical median of 164.06. According to the industry distribution chart, HealthEquity ranks #32 out of 666 companies in the Healthcare Providers & Services industry, placing it in the top 4.8%.
Is HealthEquity's ROC (Joel Greenblatt) % too high?
HealthEquity's current ROC (Joel Greenblatt) % of 421.67% is 157% above median its 10-year median of 164.06. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.49. HealthEquity's value of 421.67% is 3277.4% above this industry median. Based on the distribution chart, HealthEquity ranks #32 out of 666 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, HealthEquity has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does HealthEquity's ROC (Joel Greenblatt) % compare to HNGE and TEM?
According to the Healthcare Providers & Services industry distribution chart, HealthEquity ranks #32 out of 666 companies for ROC (Joel Greenblatt) %. This places HealthEquity in the top 5% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.49. HealthEquity's value of 421.67% is 3277.4% above this benchmark. While the company's 10-year median is 164.06 vs. the industry median of 12.49, HealthEquity 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 12.49, based on 666 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. HealthEquity's current ROC (Joel Greenblatt) % of 421.67% is 3277.4% 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 HealthEquity and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HealthEquity's current ROC (Joel Greenblatt) % is 421.67%, which is 157% above median its own 10-year median of 164.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HealthEquity stock overvalued right now?
HealthEquity (FRA:2HE) has a current ROC (Joel Greenblatt) % of 421.67%. The stock's GF Value™ is €91.42, compared to a current price of €84.50 — trading 7.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 421.67%, which is 157% above median its 10-year median of 164.06 and 3277.4% above the Healthcare Providers & Services industry median of 12.49. HealthEquity's overall GF Score™ is 93/100 with 3 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 HealthEquity (FRA:2HE), the current ROC (Joel Greenblatt) % is 421.67% 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 HealthEquity (FRA:2HE) Overvalued in 2026?
Based on GuruFocus' analysis, HealthEquity stock appears to be undervalued.
The current stock price of €84.50 is trading 7.6% below its estimated GF Value™ of €91.42.
Key valuation signals for FRA:2HE:
ROC (Joel Greenblatt) %: 421.67% (157% above median its 10-year median of 164.06)
GF Value™: €91.42 vs. price of €84.50 (7.6% below fair value)
Industry Position: 3277.4% above the Healthcare Providers & Services median (#32 of 666)
No single metric tells the full story. See the FRA:2HE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HealthEquity Inc provides solutions that allow consumers to make healthcare saving and spending decisions. It provides payment processing services, personalized benefit information, the ability to earn wellness incentives, and investment advice to grow their tax-advantaged healthcare savings. It manages consumers' tax-advantaged health savings accounts (HSAs) and other consumer-directed benefits (CDBs) offered by employers, including flexible spending accounts and health reimbursement arrangements (FSAs and HRAs), and administers Consolidated Omnibus Budget Reconciliation Act (COBRA), commuter and other benefits. It also provides investment advisory services to customers whose account balances exceed a certain threshold. HealthEquity generates its revenue in the United States.
93GF Score
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