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WavestoneFRA:2WSA 96 ROC (Joel Greenblatt) % is 399.21% as of Mar. 2026, which is 75% above its 10-year median of 227.99. GuruFocus rates FRA:2WSA with a GF Score™ of 96/100 and a GF Value™ of €59.72 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 2,811 Software companies, Wavestone ranks better than 89.29% 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. Wavestone's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 399.21%.
The historical rank and industry rank for Wavestone's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:2WSA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 107.6 Med: 227.99 Max: 343.16
Current: 318.43
During the past 13 years, Wavestone's highest ROC (Joel Greenblatt) % was 343.16%. The lowest was 107.60%. And the median was 227.99%.
FRA:2WSA's ROC (Joel Greenblatt) % is ranked better than 89.29% of 2811
companies
in the Software industry
Industry Median: 19.89
vs FRA:2WSA: 318.43
Wavestone's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 18.60% 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.
The historical data trend for Wavestone'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:2WSA vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Wavestone'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.
Wavestone ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Wavestone's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Wavestone'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 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 399.21% mean?
Wavestone (FRA:2WSA) has a ROC (Joel Greenblatt) % of 399.21% 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 Wavestone and its competitors. This is 75% above median its historical median of 227.99. Over the past decade, Wavestone's ROC (Joel Greenblatt) % has ranged from 107.60 to 343.16. According to the industry distribution chart, Wavestone ranks #301 out of 2811 companies in the Software industry, placing it in the top 10.7%.
Is Wavestone's ROC (Joel Greenblatt) % too high?
Wavestone's current ROC (Joel Greenblatt) % of 399.21% is 75% above median its 10-year median of 227.99. Over the past 10 years, this metric has ranged from a low of 107.60 to a high of 343.16. The Software industry median ROC (Joel Greenblatt) % is 19.89. Wavestone's value of 399.21% is 1907.1% above this industry median. Based on the distribution chart, Wavestone ranks #301 out of 2811 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Wavestone has a GF Score™ of 96/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Wavestone's ROC (Joel Greenblatt) % compare to IBM and ACN?
According to the Software industry distribution chart, Wavestone ranks #301 out of 2811 companies for ROC (Joel Greenblatt) %. This places Wavestone in the top 11% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.89. Wavestone's value of 399.21% is 1907.1% above this benchmark. Historically, Wavestone's own ROC (Joel Greenblatt) % has ranged from 107.60 to 343.16 over the past decade. While the company's 10-year median is 227.99 vs. the industry median of 19.89, Wavestone 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.89, based on 2,811 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. Wavestone's current ROC (Joel Greenblatt) % of 399.21% is 1907.1% 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 Wavestone and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Wavestone's current ROC (Joel Greenblatt) % is 399.21%, which is 75% above median its own 10-year median of 227.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wavestone stock overvalued right now?
Based on GuruFocus' analysis, Wavestone (FRA:2WSA) is currently considered Significantly Undervalued. The stock's GF Value™ is €59.72, compared to a current price of €37.65 — trading 37% below its estimated fair value. The current ROC (Joel Greenblatt) % is 399.21%, which is 75% above median its 10-year median of 227.99 and 1907.1% above the Software industry median of 19.89. Wavestone's overall GF Score™ is 96/100 with 4 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 Wavestone (FRA:2WSA), the current ROC (Joel Greenblatt) % is 399.21% 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 Wavestone (FRA:2WSA) Overvalued in 2026?
Based on GuruFocus' analysis, Wavestone stock appears to be undervalued.
The current stock price of €37.65 is trading 37% below its estimated GF Value™ of €59.72.
GuruFocus considers Wavestone to be Significantly Undervalued.
Key valuation signals for FRA:2WSA:
ROC (Joel Greenblatt) %: 399.21% (75% above median its 10-year median of 227.99)
GF Value™: €59.72 vs. price of €37.65 (37% below fair value)
Industry Position: 1907.1% above the Software median (#301 of 2811)
No single metric tells the full story. See the FRA:2WSA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wavestone SA is a management and Information Technology consulting firm. The company serves Services, Consumer goods and distribution, Energy and Utilities, Manufacturing, Public sector and International Institutions, and the Transport and Travel sector. Its technologies include IT and Data architecture, Cybersecurity and digital trust, and others. It provides services such as financial risks and purchases, management and financing of innovation, supply chain, and others. Geographically, it generates the majority of its revenue from France.
96GF Score
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