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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. InCoax Networks AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -1,095.58%.
The historical rank and industry rank for InCoax Networks AB's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:86M'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -3560.92 Med: -952.38 Max: -207.21
Current: -732.16
During the past 10 years, InCoax Networks AB's highest ROC (Joel Greenblatt) % was -207.21%. The lowest was -3560.92%. And the median was -952.38%.
FRA:86M's ROC (Joel Greenblatt) % is ranked worse than 97.83% of 2492
companies
in the Hardware industry
Industry Median: 10.435
vs FRA:86M: -732.16
InCoax Networks AB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 20.60% per year.
InCoax Networks AB (FRA:86M) 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.
InCoax Networks AB ROC (Joel Greenblatt) % Related Terms
InCoax Networks AB ROC (Joel Greenblatt) % Historical Data
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The historical data trend for InCoax Networks AB'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:86M vs CSCO, CIEN, MSI: ROC (Joel Greenblatt) % Comparison
For the Communication Equipment subindustry, InCoax Networks AB'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.
InCoax Networks AB ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, InCoax Networks AB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where InCoax Networks AB's ROC (Joel Greenblatt) % falls into.
InCoax Networks AB 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 -1,095.58% mean?
InCoax Networks AB (FRA:86M) has a ROC (Joel Greenblatt) % of -1,095.58% 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 InCoax Networks AB and its competitors. According to the industry distribution chart, InCoax Networks AB ranks #2438 out of 2492 companies in the Hardware industry, placing it in the top 97.8%.
Is InCoax Networks AB's ROC (Joel Greenblatt) % too high?
InCoax Networks AB's current ROC (Joel Greenblatt) % is -1,095.58%. Based on the distribution chart, InCoax Networks AB ranks #2438 out of 2492 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, InCoax Networks AB has a GF Score™ of 49/100, reflecting its overall financial health beyond just this single metric.
How does InCoax Networks AB's ROC (Joel Greenblatt) % compare to CSCO and CIEN?
According to the Hardware industry distribution chart, InCoax Networks AB ranks #2438 out of 2492 companies for ROC (Joel Greenblatt) %. This places InCoax Networks AB in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.44. 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 10.44, based on 2,492 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. 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 InCoax Networks AB and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. InCoax Networks AB's current ROC (Joel Greenblatt) % is -1,095.58%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is InCoax Networks AB stock overvalued right now?
InCoax Networks AB (FRA:86M) has a current ROC (Joel Greenblatt) % of -1,095.58%. The stock's GF Value™ is €0.03, compared to a current price of €0.07 — trading 124% above its estimated fair value. The current ROC (Joel Greenblatt) % is -1,095.58%. InCoax Networks AB's overall GF Score™ is 49/100 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 InCoax Networks AB (FRA:86M), the current ROC (Joel Greenblatt) % is -1,095.58% 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 InCoax Networks AB (FRA:86M) Overvalued in 2026?
Based on GuruFocus' analysis, InCoax Networks AB stock appears to be overvalued.
The current stock price of €0.07 is trading 124% above its estimated GF Value™ of €0.03.
Key valuation signals for FRA:86M:
ROC (Joel Greenblatt) %: -1,095.58%
GF Value™: €0.03 vs. price of €0.07 (124% above fair value)
No single metric tells the full story. See the FRA:86M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
InCoax Networks AB is a Swedish technology company that develops system solutions for broadband access in multi-dwelling buildings and other properties with existing coaxial cabling. The company's products include Incoax, Fiber Access & Fixed Wireless Access (FWA) Extension Over Coax, MoCA Access 2.5 standard, Whitepaper, in:xtnd Control, 5 Gbps InCoax Access, InCoax Combine, InCoax Manage CLM. The business model is mainly based on hardware sales, complemented by software, support, and maintenance. In larger rollouts, market development and delivery often take place together with distributors, resellers, and system integrators. Its customer mainly targets operators that need a faster and more cost-effective and second important customer group is FWA operators.
49GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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