Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Altri SGPSFRA:ACJ -0.66%66 ROC (Joel Greenblatt) % is -3.75% as of Mar. 2026. GuruFocus rates FRA:ACJ with a GF Score™ of 66/100 and a GF Value™ of €4.38 (Fairly Valued). The stock has 7 warning signs investors should review. Among 286 Forest Products companies, Altri SGPS ranks better than 66.43% 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. Altri SGPS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3.75%.
The historical rank and industry rank for Altri SGPS's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:ACJ'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.23 Med: 27.2 Max: 55.27
Current: 8.02
During the past 13 years, Altri SGPS's highest ROC (Joel Greenblatt) % was 55.27%. The lowest was 4.23%. And the median was 27.20%.
FRA:ACJ's ROC (Joel Greenblatt) % is ranked better than 66.43% of 286
companies
in the Forest Products industry
Industry Median: 4.725
vs FRA:ACJ: 8.02
Altri SGPS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 15.10% per year.
Altri SGPS (FRA:ACJ) 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.
Altri SGPS ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Altri SGPS'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:ACJ vs SLVM: ROC (Joel Greenblatt) % Comparison
For the Paper & Paper Products subindustry, Altri SGPS'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.
Altri SGPS ROC (Joel Greenblatt) % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Altri SGPS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Altri SGPS'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 (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 -3.75% mean?
Altri SGPS (FRA:ACJ) has a ROC (Joel Greenblatt) % of -3.75% 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 Altri SGPS and its competitors. Over the past decade, Altri SGPS's ROC (Joel Greenblatt) % has ranged from 4.23 to 55.27. According to the industry distribution chart, Altri SGPS ranks #96 out of 286 companies in the Forest Products industry, placing it in the top 33.6%.
Is Altri SGPS's ROC (Joel Greenblatt) % too high?
Altri SGPS's current ROC (Joel Greenblatt) % is -3.75%. Over the past 10 years, this metric has ranged from a low of 4.23 to a high of 55.27. Based on the distribution chart, Altri SGPS ranks #96 out of 286 companies in the Forest Products industry, which is above the industry midpoint. Overall, Altri SGPS has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Altri SGPS's ROC (Joel Greenblatt) % compare to SLVM?
According to the Forest Products industry distribution chart, Altri SGPS ranks #96 out of 286 companies for ROC (Joel Greenblatt) %. This puts Altri SGPS in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 4.73. Historically, Altri SGPS's own ROC (Joel Greenblatt) % has ranged from 4.23 to 55.27 over the past decade. 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 Forest Products company?
The median ROC (Joel Greenblatt) % among Forest Products companies is 4.73, based on 286 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 Altri SGPS and its competitors. For the Forest Products industry, the median ROC (Joel Greenblatt) % is 4.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Altri SGPS's current ROC (Joel Greenblatt) % is -3.75%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Altri SGPS stock overvalued right now?
Based on GuruFocus' analysis, Altri SGPS (FRA:ACJ) is currently considered Fairly Valued. The stock's GF Value™ is €4.38, compared to a current price of €4.54 — trading 3.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is -3.75%. Altri SGPS's overall GF Score™ is 66/100 with 7 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 Altri SGPS (FRA:ACJ), the current ROC (Joel Greenblatt) % is -3.75% 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 Altri SGPS (FRA:ACJ) Overvalued in 2026?
Based on GuruFocus' analysis, Altri SGPS stock appears to be overvalued.
The current stock price of €4.54 is trading 3.7% above its estimated GF Value™ of €4.38.
GuruFocus considers Altri SGPS to be Fairly Valued.
Key valuation signals for FRA:ACJ:
ROC (Joel Greenblatt) %: -3.75%
GF Value™: €4.38 vs. price of €4.54 (3.7% above fair value)
No single metric tells the full story. See the FRA:ACJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Altri SGPS SA manages forests and produces and sells pulp. The company owns and manages eucalyptus forests throughout Portugal and harvests timber. It focuses on the production of cellulosic fibers through three production units. The group comprises twenty-one companies, including three industrial plants dedicated to the production of cellulose fibres: Biotek, Caima, and Celbi. The company generates maximum revenue from the sale of Cellulosic Fiber. Geographically, the company operates in the Domestic market and the foreign market. The majority of its revenue is generated from the Foreign market.
66GF Score
Get the complete analysis for FRA:ACJ
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:ACJ has been successfully added to your 
