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CEZ ASFRA:CEZ +0.47%67 ROC (Joel Greenblatt) % is 15.15% as of Mar. 2026, which is 146% above its 10-year median of 6.16. GuruFocus rates FRA:CEZ with a GF Score™ of 67/100 and a GF Value™ of €44.63 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 505 Utilities - Regulated companies, CEZ AS ranks better than 56.63% 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. CEZ AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.15%.
The historical rank and industry rank for CEZ AS's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:CEZ'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.34 Med: 6.16 Max: 24.14
Current: 12.87
During the past 13 years, CEZ AS's highest ROC (Joel Greenblatt) % was 24.14%. The lowest was 3.34%. And the median was 6.16%.
FRA:CEZ's ROC (Joel Greenblatt) % is ranked better than 56.63% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.84
vs FRA:CEZ: 12.87
CEZ AS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 36.30% per year.
CEZ AS (FRA:CEZ) 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.
The historical data trend for CEZ AS'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:CEZ vs NEE, SO, DUK: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Electric subindustry, CEZ AS'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.
CEZ AS ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, CEZ AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CEZ AS'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 15.15% mean?
CEZ AS (FRA:CEZ) has a ROC (Joel Greenblatt) % of 15.15% 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 CEZ AS and its competitors. This is 146% above median its historical median of 6.16. Over the past decade, CEZ AS's ROC (Joel Greenblatt) % has ranged from 3.34 to 24.14. According to the industry distribution chart, CEZ AS ranks #219 out of 505 companies in the Utilities - Regulated industry, placing it in the top 43.4%.
Is CEZ AS's ROC (Joel Greenblatt) % too high?
CEZ AS's current ROC (Joel Greenblatt) % of 15.15% is 146% above median its 10-year median of 6.16. Over the past 10 years, this metric has ranged from a low of 3.34 to a high of 24.14. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.84. CEZ AS's value of 15.15% is 39.8% above this industry median. Based on the distribution chart, CEZ AS ranks #219 out of 505 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, CEZ AS has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CEZ AS's ROC (Joel Greenblatt) % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, CEZ AS ranks #219 out of 505 companies for ROC (Joel Greenblatt) %. This puts CEZ AS in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.84. CEZ AS's value of 15.15% is 39.8% above this benchmark. Historically, CEZ AS's own ROC (Joel Greenblatt) % has ranged from 3.34 to 24.14 over the past decade. While the company's 10-year median is 6.16 vs. the industry median of 10.84, CEZ AS 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 Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.84, based on 505 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. CEZ AS's current ROC (Joel Greenblatt) % of 15.15% is 39.8% 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 CEZ AS and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CEZ AS's current ROC (Joel Greenblatt) % is 15.15%, which is 146% above median its own 10-year median of 6.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CEZ AS stock overvalued right now?
Based on GuruFocus' analysis, CEZ AS (FRA:CEZ) is currently considered Modestly Overvalued. The stock's GF Value™ is €44.63, compared to a current price of €53.40 — trading 19.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 15.15%, which is 146% above median its 10-year median of 6.16 and 39.8% above the Utilities - Regulated industry median of 10.84. CEZ AS's overall GF Score™ is 67/100 with 9 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 CEZ AS (FRA:CEZ), the current ROC (Joel Greenblatt) % is 15.15% 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 CEZ AS (FRA:CEZ) Overvalued in 2026?
Based on GuruFocus' analysis, CEZ AS stock appears to be overvalued.
The current stock price of €53.40 is trading 19.7% above its estimated GF Value™ of €44.63.
GuruFocus considers CEZ AS to be Modestly Overvalued.
Key valuation signals for FRA:CEZ:
ROC (Joel Greenblatt) %: 15.15% (146% above median its 10-year median of 6.16)
GF Value™: €44.63 vs. price of €53.40 (19.7% above fair value)
Industry Position: 39.8% above the Utilities - Regulated median (#219 of 505)
No single metric tells the full story. See the FRA:CEZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CEZ AS is a Czech energy company of which the government of the Czech Republic is the majority shareholder. The core business of the company is the generation, distribution, trade, and sale of electricity and heat, coal mining, trading in commodities and provision of complex energy services, distribution, trade, and sale of natural gas, and the provision of telecommunications services. Total energy production is mainly split between facilities utilizing thermal and nuclear inputs. CEZ segments comprise Generation; Distribution; Sales and Mining. The group operates mainly in Czechia and in Central and Western European markets.
67GF Score
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