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. Cia Energetica DE Minas Gerais - Cemig's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 152.48%.
FRA:CIDS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 60.4 Med: 155.17 Max: 266.81
Current: 170.87
During the past 13 years, Cia Energetica DE Minas Gerais - Cemig's highest ROC (Joel Greenblatt) % was 266.81%. The lowest was 60.40%. And the median was 155.17%.
FRA:CIDS's ROC (Joel Greenblatt) % is ranked better than 93.07% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.84
vs FRA:CIDS: 170.87
Cia Energetica DE Minas Gerais - Cemig (FRA:CIDS) 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.
* 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.
Cia Energetica DE Minas Gerais - Cemig ROC (Joel Greenblatt) % Chart
Cia Energetica DE Minas Gerais - Cemig Annual Data
FRA:CIDS vs NEE, SO, DUK: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Electric subindustry, Cia Energetica DE Minas Gerais - Cemig'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.
Cia Energetica DE Minas Gerais - Cemig ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Cia Energetica DE Minas Gerais - Cemig's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Cia Energetica DE Minas Gerais - Cemig's ROC (Joel Greenblatt) % falls into.
Cia Energetica DE Minas Gerais - Cemig ROC (Joel Greenblatt) % Calculation
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 152.48% mean?
Cia Energetica DE Minas Gerais - Cemig (FRA:CIDS) has a ROC (Joel Greenblatt) % of 152.48% 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 Cia Energetica DE Minas Gerais - Cemig and its competitors. This is near median its historical median of 155.17. Over the past decade, Cia Energetica DE Minas Gerais - Cemig's ROC (Joel Greenblatt) % has ranged from 60.40 to 266.81. According to the industry distribution chart, Cia Energetica DE Minas Gerais - Cemig ranks #35 out of 505 companies in the Utilities - Regulated industry, placing it in the top 6.9%.
Is Cia Energetica DE Minas Gerais - Cemig's ROC (Joel Greenblatt) % too high?
Cia Energetica DE Minas Gerais - Cemig's current ROC (Joel Greenblatt) % of 152.48% is near median its 10-year median of 155.17. Over the past 10 years, this metric has ranged from a low of 60.40 to a high of 266.81. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.84. Cia Energetica DE Minas Gerais - Cemig's value of 152.48% is 1306.6% above this industry median. Based on the distribution chart, Cia Energetica DE Minas Gerais - Cemig ranks #35 out of 505 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Cia Energetica DE Minas Gerais - Cemig has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Cia Energetica DE Minas Gerais - Cemig's ROC (Joel Greenblatt) % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Cia Energetica DE Minas Gerais - Cemig ranks #35 out of 505 companies for ROC (Joel Greenblatt) %. This places Cia Energetica DE Minas Gerais - Cemig in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.84. Cia Energetica DE Minas Gerais - Cemig's value of 152.48% is 1306.6% above this benchmark. Historically, Cia Energetica DE Minas Gerais - Cemig's own ROC (Joel Greenblatt) % has ranged from 60.40 to 266.81 over the past decade. While the company's 10-year median is 155.17 vs. the industry median of 10.84, Cia Energetica DE Minas Gerais - Cemig 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. Cia Energetica DE Minas Gerais - Cemig's current ROC (Joel Greenblatt) % of 152.48% is 1306.6% 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 Cia Energetica DE Minas Gerais - Cemig 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. Cia Energetica DE Minas Gerais - Cemig's current ROC (Joel Greenblatt) % is 152.48%, which is near median its own 10-year median of 155.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cia Energetica DE Minas Gerais - Cemig stock overvalued right now?
Cia Energetica DE Minas Gerais - Cemig (FRA:CIDS) has a current ROC (Joel Greenblatt) % of 152.48%. The stock's GF Value™ is €565.08, compared to a current price of €2.44 — trading 99.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 152.48%, which is near median its 10-year median of 155.17 and 1306.6% above the Utilities - Regulated industry median of 10.84. Cia Energetica DE Minas Gerais - Cemig's overall GF Score™ is 66/100 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 Cia Energetica DE Minas Gerais - Cemig (FRA:CIDS), the current ROC (Joel Greenblatt) % is 152.48% 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 Cia Energetica DE Minas Gerais - Cemig (FRA:CIDS) Overvalued in 2026?
Based on GuruFocus' analysis, Cia Energetica DE Minas Gerais - Cemig stock appears to be undervalued.
The current stock price of €2.44 is trading 99.6% below its estimated GF Value™ of €565.08.
Key valuation signals for FRA:CIDS:
ROC (Joel Greenblatt) %: 152.48% (near median its 10-year median of 155.17)
GF Value™: €565.08 vs. price of €2.44 (99.6% below fair value)
Industry Position: 1306.6% above the Utilities - Regulated median (#35 of 505)
No single metric tells the full story. See the FRA:CIDS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cia Energetica DE Minas Gerais - Cemig Business Description
Cia Energetica DE Minas Gerais - Cemig is a Brazilian energy company engaged in the generation, transmission, distribution, and commercialization of electricity, as well as natural gas distribution. The company operates through six segments: Generation, Transmission, Trading, Distribution, Gas, and Investees. Its activities include power generation mainly from hydroelectric sources, operation and maintenance of transmission and distribution infrastructure, electricity sales to captive and free-market customers, and gas distribution in Minas Gerais. The company derives a majority of its revenue from the Distribution segment, which comprises the distribution and sale of electricity to captive customers, and the operation and maintenance of infrastructure and related services.
66GF Score
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