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Applied Industrial TechnologiesFRA:AT4 +2.66%89 ROC (Joel Greenblatt) % is 46.67% as of Mar. 2026, which is 40% above its 10-year median of 33.38. GuruFocus rates FRA:AT4 with a GF Score™ of 89/100 and a GF Value™ of €222.02 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 158 Industrial Distribution companies, Applied Industrial Technologies ranks better than 89.87% 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. Applied Industrial Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 46.67%.
The historical rank and industry rank for Applied Industrial Technologies's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:AT4'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 11.97 Med: 33.38 Max: 49.67
Current: 46.46
During the past 13 years, Applied Industrial Technologies's highest ROC (Joel Greenblatt) % was 49.67%. The lowest was 11.97%. And the median was 33.38%.
FRA:AT4's ROC (Joel Greenblatt) % is ranked better than 89.87% of 158
companies
in the Industrial Distribution industry
Industry Median: 14.66
vs FRA:AT4: 46.46
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:AT4 vs QXO, CNM, WSO: ROC (Joel Greenblatt) % Comparison
For the Industrial Distribution subindustry, Applied Industrial Technologies'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.
Applied Industrial Technologies ROC (Joel Greenblatt) % vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Applied Industrial Technologies's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Applied Industrial Technologies'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 46.67% mean?
Applied Industrial Technologies (FRA:AT4) has a ROC (Joel Greenblatt) % of 46.67% 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 Applied Industrial Technologies and its competitors. This is 40% above median its historical median of 33.38. Over the past decade, Applied Industrial Technologies' ROC (Joel Greenblatt) % has ranged from 11.97 to 49.67. According to the industry distribution chart, Applied Industrial Technologies ranks #16 out of 158 companies in the Industrial Distribution industry, placing it in the top 10.1%.
Is Applied Industrial Technologies' ROC (Joel Greenblatt) % too high?
Applied Industrial Technologies' current ROC (Joel Greenblatt) % of 46.67% is 40% above median its 10-year median of 33.38. Over the past 10 years, this metric has ranged from a low of 11.97 to a high of 49.67. The Industrial Distribution industry median ROC (Joel Greenblatt) % is 14.66. Applied Industrial Technologies' value of 46.67% is 218.3% above this industry median. Based on the distribution chart, Applied Industrial Technologies ranks #16 out of 158 companies in the Industrial Distribution industry, which is in the top quartile — a strong position relative to peers. Overall, Applied Industrial Technologies has a GF Score™ of 89/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Applied Industrial Technologies' ROC (Joel Greenblatt) % compare to QXO and CNM?
According to the Industrial Distribution industry distribution chart, Applied Industrial Technologies ranks #16 out of 158 companies for ROC (Joel Greenblatt) %. This places Applied Industrial Technologies in the top 10% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 14.66. Applied Industrial Technologies' value of 46.67% is 218.3% above this benchmark. Historically, Applied Industrial Technologies' own ROC (Joel Greenblatt) % has ranged from 11.97 to 49.67 over the past decade. While the company's 10-year median is 33.38 vs. the industry median of 14.66, Applied Industrial Technologies 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 Industrial Distribution company?
The median ROC (Joel Greenblatt) % among Industrial Distribution companies is 14.66, based on 158 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. Applied Industrial Technologies's current ROC (Joel Greenblatt) % of 46.67% is 218.3% 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 Applied Industrial Technologies and its competitors. For the Industrial Distribution industry, the median ROC (Joel Greenblatt) % is 14.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Applied Industrial Technologies's current ROC (Joel Greenblatt) % is 46.67%, which is 40% above median its own 10-year median of 33.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Applied Industrial Technologies stock overvalued right now?
Based on GuruFocus' analysis, Applied Industrial Technologies (FRA:AT4) is currently considered Modestly Overvalued. The stock's GF Value™ is €222.02, compared to a current price of €286.00 — trading 28.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 46.67%, which is 40% above median its 10-year median of 33.38 and 218.3% above the Industrial Distribution industry median of 14.66. Applied Industrial Technologies' overall GF Score™ is 89/100 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 Applied Industrial Technologies (FRA:AT4), the current ROC (Joel Greenblatt) % is 46.67% 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 Applied Industrial Technologies (FRA:AT4) Overvalued in 2026?
Based on GuruFocus' analysis, Applied Industrial Technologies stock appears to be overvalued.
The current stock price of €286.00 is trading 28.8% above its estimated GF Value™ of €222.02.
GuruFocus considers Applied Industrial Technologies to be Modestly Overvalued.
Key valuation signals for FRA:AT4:
ROC (Joel Greenblatt) %: 46.67% (40% above median its 10-year median of 33.38)
GF Value™: €222.02 vs. price of €286.00 (28.8% above fair value)
Industry Position: 218.3% above the Industrial Distribution median (#16 of 158)
No single metric tells the full story. See the FRA:AT4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Applied Industrial Technologies Business Description
Applied Industrial Technologies Inc is a distributor of industrial products to the maintenance, repair, and operations market and the original equipment manufacturing industry. Further, the company provides engineering and design services for industrial and fluid power applications. The products include bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, safety products, oilfield supplies, and other industrial and maintenance supplies. The company's reportable segments are; Service Center Based Distribution which derives key revenue, and Engineered Solutions. Geographically, the company derives its key revenue from the United States and the rest from Canada and other countries.
89GF Score
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