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ValeFRA:CVLB +0.81%73 ROC (Joel Greenblatt) % is 27.43% as of Mar. 2026, which is 45% above its 10-year median of 18.95. GuruFocus rates FRA:CVLB with a GF Score™ of 73/100 and a GF Value™ of €11.24 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,502 Metals & Mining companies, Vale ranks better than 85.13% 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. Vale's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.43%.
The historical rank and industry rank for Vale's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:CVLB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.02 Med: 18.95 Max: 78.36
Current: 16.53
During the past 13 years, Vale's highest ROC (Joel Greenblatt) % was 78.36%. The lowest was 5.02%. And the median was 18.95%.
FRA:CVLB's ROC (Joel Greenblatt) % is ranked better than 85.13% of 2502
companies
in the Metals & Mining industry
Industry Median: -22.105
vs FRA:CVLB: 16.53
Vale's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -17.90% per year.
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 Vale'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.
For the Other Industrial Metals & Mining subindustry, Vale'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.
Vale ROC (Joel Greenblatt) % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vale's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Vale'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 27.43% mean?
Vale (FRA:CVLB) has a ROC (Joel Greenblatt) % of 27.43% 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 Vale and its competitors. This is 45% above median its historical median of 18.95. Over the past decade, Vale's ROC (Joel Greenblatt) % has ranged from 5.02 to 78.36. According to the industry distribution chart, Vale ranks #372 out of 2502 companies in the Metals & Mining industry, placing it in the top 14.9%.
Is Vale's ROC (Joel Greenblatt) % too high?
Vale's current ROC (Joel Greenblatt) % of 27.43% is 45% above median its 10-year median of 18.95. Over the past 10 years, this metric has ranged from a low of 5.02 to a high of 78.36. Based on the distribution chart, Vale ranks #372 out of 2502 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Vale has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vale's ROC (Joel Greenblatt) % compare to competitors?
According to the Metals & Mining industry distribution chart, Vale ranks #372 out of 2502 companies for ROC (Joel Greenblatt) %. This places Vale in the top 15% of its industry — outperforming the majority of peers. Historically, Vale's own ROC (Joel Greenblatt) % has ranged from 5.02 to 78.36 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 Metals & Mining company?
A good ROC (Joel Greenblatt) % depends on the Metals & Mining industry context. 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 Vale and its competitors. Vale's current ROC (Joel Greenblatt) % is 27.43%, which is 45% above median its own 10-year median of 18.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vale stock overvalued right now?
Based on GuruFocus' analysis, Vale (FRA:CVLB) is currently considered Modestly Overvalued. The stock's GF Value™ is €11.24, compared to a current price of €12.45 — trading 10.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 27.43%, which is 45% above median its 10-year median of 18.95. Vale's overall GF Score™ is 73/100 with 5 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 Vale (FRA:CVLB), the current ROC (Joel Greenblatt) % is 27.43% 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 Vale (FRA:CVLB) Overvalued in 2026?
Based on GuruFocus' analysis, Vale stock appears to be overvalued.
The current stock price of €12.45 is trading 10.8% above its estimated GF Value™ of €11.24.
GuruFocus considers Vale to be Modestly Overvalued.
Key valuation signals for FRA:CVLB:
ROC (Joel Greenblatt) %: 27.43% (45% above median its 10-year median of 18.95)
GF Value™: €11.24 vs. price of €12.45 (10.8% above fair value)
No single metric tells the full story. See the FRA:CVLB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by its iron ore business. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. In 2024, Vale sold a minority 10% stake in its base metals business, likely the first step in separating base metals and iron ore.
73GF Score
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