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Antin Infrastructure PartnersFRA:8ZU +1.57%94 ROC (Joel Greenblatt) % is 189.35% as of Dec. 2025, which is 6% below its 10-year median of 202.08. GuruFocus rates FRA:8ZU with a GF Score™ of 94/100 and a GF Value™ of €12.48 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 631 Asset Management companies, Antin Infrastructure Partners ranks better than 60.06% 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. Antin Infrastructure Partners's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 189.35%.
The historical rank and industry rank for Antin Infrastructure Partners's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:8ZU'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 16.18 Med: 202.08 Max: 762.14
Current: 178.37
During the past 9 years, Antin Infrastructure Partners's highest ROC (Joel Greenblatt) % was 762.14%. The lowest was 16.18%. And the median was 202.08%.
FRA:8ZU's ROC (Joel Greenblatt) % is ranked better than 60.06% of 631
companies
in the Asset Management industry
Industry Median: 68.83
vs FRA:8ZU: 178.37
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.
FRA:8ZU vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, Antin Infrastructure Partners'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.
Antin Infrastructure Partners ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Antin Infrastructure Partners's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Antin Infrastructure Partners'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 (Dec. 2025) 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 189.35% mean?
Antin Infrastructure Partners (FRA:8ZU) has a ROC (Joel Greenblatt) % of 189.35% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Antin Infrastructure Partners and its competitors. This is near median its historical median of 202.08. Over the past decade, Antin Infrastructure Partners' ROC (Joel Greenblatt) % has ranged from 16.18 to 762.14. According to the industry distribution chart, Antin Infrastructure Partners ranks #252 out of 631 companies in the Asset Management industry, placing it in the top 39.9%.
Is Antin Infrastructure Partners' ROC (Joel Greenblatt) % too high?
Antin Infrastructure Partners' current ROC (Joel Greenblatt) % of 189.35% is near median its 10-year median of 202.08. Over the past 10 years, this metric has ranged from a low of 16.18 to a high of 762.14. The Asset Management industry median ROC (Joel Greenblatt) % is 68.83. Antin Infrastructure Partners' value of 189.35% is 175.1% above this industry median. Based on the distribution chart, Antin Infrastructure Partners ranks #252 out of 631 companies in the Asset Management industry, which is above the industry midpoint. Overall, Antin Infrastructure Partners has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Antin Infrastructure Partners' ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Antin Infrastructure Partners ranks #252 out of 631 companies for ROC (Joel Greenblatt) %. This puts Antin Infrastructure Partners in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 68.83. Antin Infrastructure Partners' value of 189.35% is 175.1% above this benchmark. Historically, Antin Infrastructure Partners' own ROC (Joel Greenblatt) % has ranged from 16.18 to 762.14 over the past decade. While the company's 10-year median is 202.08 vs. the industry median of 68.83, Antin Infrastructure Partners 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 an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 68.83, based on 631 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. Antin Infrastructure Partners's current ROC (Joel Greenblatt) % of 189.35% is 175.1% 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 Antin Infrastructure Partners and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 68.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antin Infrastructure Partners's current ROC (Joel Greenblatt) % is 189.35%, which is near median its own 10-year median of 202.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Antin Infrastructure Partners stock overvalued right now?
Based on GuruFocus' analysis, Antin Infrastructure Partners (FRA:8ZU) is currently considered Modestly Undervalued. The stock's GF Value™ is €12.48, compared to a current price of €9.03 — trading 27.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 189.35%, which is near median its 10-year median of 202.08 and 175.1% above the Asset Management industry median of 68.83. Antin Infrastructure Partners' overall GF Score™ is 94/100 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 Antin Infrastructure Partners (FRA:8ZU), the current ROC (Joel Greenblatt) % is 189.35% as of Dec. 2025. 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 Antin Infrastructure Partners (FRA:8ZU) Overvalued in 2026?
Based on GuruFocus' analysis, Antin Infrastructure Partners stock appears to be undervalued.
The current stock price of €9.03 is trading 27.6% below its estimated GF Value™ of €12.48.
GuruFocus considers Antin Infrastructure Partners to be Modestly Undervalued.
Key valuation signals for FRA:8ZU:
ROC (Joel Greenblatt) %: 189.35% (near median its 10-year median of 202.08)
GF Value™: €12.48 vs. price of €9.03 (27.6% below fair value)
Industry Position: 175.1% above the Asset Management median (#252 of 631)
No single metric tells the full story. See the FRA:8ZU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Antin Infrastructure Partners is an independent private equity firm focused on infrastructure investments. It manages multiple funds that invest in infrastructure projects in Europe and North America, targeting sectors such as energy and environment, digital, transportation, and social infrastructure, with the objective of generating risk-adjusted returns for investors. The majority of the company's revenue is derived from the Management fees. Geographically, it generates the maximum revenue from France.
94GF Score
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