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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. Granite Real Estate Investment Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15,656.02%.
The historical rank and industry rank for Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:4I70'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 246.85 Med: 12980.62 Max: 55063.43
Current: 629.25
During the past 13 years, Granite Real Estate Investment Trust's highest ROC (Joel Greenblatt) % was 55063.43%. The lowest was 246.85%. And the median was 12980.62%.
FRA:4I70's ROC (Joel Greenblatt) % is ranked better than 70.14% of 576
companies
in the REITs industry
Industry Median: 169.935
vs FRA:4I70: 629.25
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.
Granite Real Estate Investment Trust ROC (Joel Greenblatt) % Chart
FRA:4I70 vs PLD, PSA, EXR: ROC (Joel Greenblatt) % Comparison
For the REIT - Industrial subindustry, Granite Real Estate Investment Trust'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.
Granite Real Estate Investment Trust ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % falls into.
Granite Real Estate Investment Trust 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 15,656.02% mean?
Granite Real Estate Investment Trust (FRA:4I70) has a ROC (Joel Greenblatt) % of 15,656.02% 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 Granite Real Estate Investment Trust and its competitors. This is 21% above median its historical median of 12,980.62. Over the past decade, Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % has ranged from 246.85 to 55,063.43. According to the industry distribution chart, Granite Real Estate Investment Trust ranks #172 out of 576 companies in the REITs industry, placing it in the top 29.9%.
Is Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % too high?
Granite Real Estate Investment Trust's current ROC (Joel Greenblatt) % of 15,656.02% is 21% above median its 10-year median of 12,980.62. Over the past 10 years, this metric has ranged from a low of 246.85 to a high of 55,063.43. The REITs industry median ROC (Joel Greenblatt) % is 169.94. Granite Real Estate Investment Trust's value of 15,656.02% is 9112.9% above this industry median. Based on the distribution chart, Granite Real Estate Investment Trust ranks #172 out of 576 companies in the REITs industry, which is above the industry midpoint. Overall, Granite Real Estate Investment Trust has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Granite Real Estate Investment Trust's ROC (Joel Greenblatt) % compare to PLD and PSA?
According to the REITs industry distribution chart, Granite Real Estate Investment Trust ranks #172 out of 576 companies for ROC (Joel Greenblatt) %. This puts Granite Real Estate Investment Trust in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 169.94. Granite Real Estate Investment Trust's value of 15,656.02% is 9112.9% above this benchmark. Historically, Granite Real Estate Investment Trust's own ROC (Joel Greenblatt) % has ranged from 246.85 to 55,063.43 over the past decade. While the company's 10-year median is 12,980.62 vs. the industry median of 169.94, Granite Real Estate Investment Trust 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 169.94, based on 576 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. Granite Real Estate Investment Trust's current ROC (Joel Greenblatt) % of 15,656.02% is 9112.9% 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 Granite Real Estate Investment Trust and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 169.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Granite Real Estate Investment Trust's current ROC (Joel Greenblatt) % is 15,656.02%, which is 21% above median its own 10-year median of 12,980.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Granite Real Estate Investment Trust stock overvalued right now?
Granite Real Estate Investment Trust (FRA:4I70) has a current ROC (Joel Greenblatt) % of 15,656.02%. The stock's GF Value™ is €56.54, compared to a current price of €57.36 — trading 1.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 15,656.02%, which is 21% above median its 10-year median of 12,980.62 and 9112.9% above the REITs industry median of 169.94. Granite Real Estate Investment Trust's overall GF Score™ is 78/100 with 6 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 Granite Real Estate Investment Trust (FRA:4I70), the current ROC (Joel Greenblatt) % is 15,656.02% 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 Granite Real Estate Investment Trust (FRA:4I70) Overvalued in 2026?
Based on GuruFocus' analysis, Granite Real Estate Investment Trust stock appears to be overvalued.
The current stock price of €57.36 is trading 1.5% above its estimated GF Value™ of €56.54.
Key valuation signals for FRA:4I70:
ROC (Joel Greenblatt) %: 15,656.02% (21% above median its 10-year median of 12,980.62)
GF Value™: €56.54 vs. price of €57.36 (1.5% above fair value)
Industry Position: 9112.9% above the REITs median (#172 of 576)
No single metric tells the full story. See the FRA:4I70 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, ownership, and management of logistics, warehouse, and industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse, logistics, and product engineering facilities. The vast majority of the company's assets are logistics and distribution warehouses and multipurpose buildings, split fairly evenly amongst Canadian, Austrian, and U.S. locations. Granite derives nearly all of its revenue in the form of rental income from its properties. The company's tenant is Magna International, an automotive parts and systems manufacturer, which accounts for the majority of Granite's lease income.
78GF Score
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