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.
DocCheck AGFRA:AJ91 -3.54%71 ROC (Joel Greenblatt) % is 58.80% as of Dec. 2025, which is 37% below its 10-year median of 92.65. GuruFocus rates FRA:AJ91 with a GF Score™ of 71/100 and a GF Value™ of €9.43 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 668 Healthcare Providers & Services companies, DocCheck AG ranks better than 82.93% 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. DocCheck AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 58.80%.
The historical rank and industry rank for DocCheck AG's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:AJ91'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 22.11 Med: 92.65 Max: 214.48
Current: 57.3
During the past 13 years, DocCheck AG's highest ROC (Joel Greenblatt) % was 214.48%. The lowest was 22.11%. And the median was 92.65%.
FRA:AJ91's ROC (Joel Greenblatt) % is ranked better than 82.93% of 668
companies
in the Healthcare Providers & Services industry
Industry Median: 12.625
vs FRA:AJ91: 57.30
DocCheck AG's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -27.80% per year.
DocCheck AG (FRA:AJ91) 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.
DocCheck AG ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for DocCheck AG'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:AJ91 vs VEEV, BTSG, HQY: ROC (Joel Greenblatt) % Comparison
For the Health Information Services subindustry, DocCheck AG'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.
DocCheck AG ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, DocCheck AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where DocCheck AG'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 58.80% mean?
DocCheck AG (FRA:AJ91) has a ROC (Joel Greenblatt) % of 58.80% 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 DocCheck AG and its competitors. This is 37% below median its historical median of 92.65. Over the past decade, DocCheck AG's ROC (Joel Greenblatt) % has ranged from 22.11 to 214.48. According to the industry distribution chart, DocCheck AG ranks #114 out of 668 companies in the Healthcare Providers & Services industry, placing it in the top 17.1%.
Is DocCheck AG's ROC (Joel Greenblatt) % too high?
DocCheck AG's current ROC (Joel Greenblatt) % of 58.80% is 37% below median its 10-year median of 92.65. Over the past 10 years, this metric has ranged from a low of 22.11 to a high of 214.48. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.63. DocCheck AG's value of 58.80% is 365.7% above this industry median. Based on the distribution chart, DocCheck AG ranks #114 out of 668 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, DocCheck AG has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does DocCheck AG's ROC (Joel Greenblatt) % compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, DocCheck AG ranks #114 out of 668 companies for ROC (Joel Greenblatt) %. This places DocCheck AG in the top 17% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.63. DocCheck AG's value of 58.80% is 365.7% above this benchmark. Historically, DocCheck AG's own ROC (Joel Greenblatt) % has ranged from 22.11 to 214.48 over the past decade. While the company's 10-year median is 92.65 vs. the industry median of 12.63, DocCheck AG 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 Healthcare Providers & Services company?
The median ROC (Joel Greenblatt) % among Healthcare Providers & Services companies is 12.63, based on 668 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. DocCheck AG's current ROC (Joel Greenblatt) % of 58.80% is 365.7% 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 DocCheck AG and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DocCheck AG's current ROC (Joel Greenblatt) % is 58.80%, which is 37% below median its own 10-year median of 92.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DocCheck AG stock overvalued right now?
Based on GuruFocus' analysis, DocCheck AG (FRA:AJ91) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.43, compared to a current price of €10.90 — trading 15.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 58.80%, which is 37% below median its 10-year median of 92.65 and 365.7% above the Healthcare Providers & Services industry median of 12.63. DocCheck AG's overall GF Score™ is 71/100 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 DocCheck AG (FRA:AJ91), the current ROC (Joel Greenblatt) % is 58.80% 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 DocCheck AG (FRA:AJ91) Overvalued in 2026?
Based on GuruFocus' analysis, DocCheck AG stock appears to be overvalued.
The current stock price of €10.90 is trading 15.6% above its estimated GF Value™ of €9.43.
GuruFocus considers DocCheck AG to be Modestly Overvalued.
Key valuation signals for FRA:AJ91:
ROC (Joel Greenblatt) %: 58.80% (37% below median its 10-year median of 92.65)
GF Value™: €9.43 vs. price of €10.90 (15.6% above fair value)
Industry Position: 365.7% above the Healthcare Providers & Services median (#114 of 668)
No single metric tells the full story. See the FRA:AJ91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
DocCheck AG is a Germany-based company engaged in the healthcare sector. It operates through subsidiaries: antwerpes AG develops integrated communication concepts for the healthcare sector, including social media and digital communication with focus on e-marketing concepts, search engine optimization (SEO), search engine advertising (SEA) and search engine marketing (SEM); DocCheck Medical Services GmbH operates an online platform for healthcare professionals, such as physicians and pharmacists; DocCheck Medizinbedarf und Logistik GmbH wholesales medical products from third parties and also produces own medical products, and DocCheck Guano AG is a venture capital company with focus on e-health companies and promotes healthcare startups.
71GF Score
Get the complete analysis for FRA:AJ91
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:AJ91 has been successfully added to your 
