Elbit SystemsFRA:EB2 +4.52%65 ROC (Joel Greenblatt) % is 33.57% as of Mar. 2026, which is 8% above its 10-year median of 31.21. GuruFocus rates FRA:EB2 with a GF Score™ of 65/100 and a GF Value™ of €323.24 (Significantly Overvalued). Among 355 Aerospace & Defense companies, Elbit Systems ranks better than 67.89% 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. Elbit Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 33.57%.
The historical rank and industry rank for Elbit Systems's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:EB2'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 22.58 Med: 31.21 Max: 63.37
Current: 25.65
During the past 13 years, Elbit Systems's highest ROC (Joel Greenblatt) % was 63.37%. The lowest was 22.58%. And the median was 31.21%.
FRA:EB2's ROC (Joel Greenblatt) % is ranked better than 67.89% of 355
companies
in the Aerospace & Defense industry
Industry Median: 10.76
vs FRA:EB2: 25.65
Elbit Systems's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 3.60% per year.
Elbit Systems (FRA:EB2) 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.
Elbit Systems ROC (Joel Greenblatt) % Related Terms
Elbit Systems ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Elbit Systems'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:EB2 vs SPCX, GE, RTX: ROC (Joel Greenblatt) % Comparison
For the Aerospace & Defense subindustry, Elbit Systems'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.
Elbit Systems ROC (Joel Greenblatt) % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Elbit Systems's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Elbit Systems'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 33.57% mean?
Elbit Systems (FRA:EB2) has a ROC (Joel Greenblatt) % of 33.57% 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 Elbit Systems and its competitors. This is near median its historical median of 31.21. Over the past decade, Elbit Systems' ROC (Joel Greenblatt) % has ranged from 22.58 to 63.37. According to the industry distribution chart, Elbit Systems ranks #114 out of 355 companies in the Aerospace & Defense industry, placing it in the top 32.1%.
Is Elbit Systems' ROC (Joel Greenblatt) % too high?
Elbit Systems' current ROC (Joel Greenblatt) % of 33.57% is near median its 10-year median of 31.21. Over the past 10 years, this metric has ranged from a low of 22.58 to a high of 63.37. The Aerospace & Defense industry median ROC (Joel Greenblatt) % is 10.76. Elbit Systems' value of 33.57% is 212% above this industry median. Based on the distribution chart, Elbit Systems ranks #114 out of 355 companies in the Aerospace & Defense industry, which is above the industry midpoint. Overall, Elbit Systems has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Elbit Systems' ROC (Joel Greenblatt) % compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Elbit Systems ranks #114 out of 355 companies for ROC (Joel Greenblatt) %. This puts Elbit Systems in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.76. Elbit Systems' value of 33.57% is 212% above this benchmark. Historically, Elbit Systems' own ROC (Joel Greenblatt) % has ranged from 22.58 to 63.37 over the past decade. While the company's 10-year median is 31.21 vs. the industry median of 10.76, Elbit Systems 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 Aerospace & Defense company?
The median ROC (Joel Greenblatt) % among Aerospace & Defense companies is 10.76, based on 355 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. Elbit Systems's current ROC (Joel Greenblatt) % of 33.57% is 212% 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 Elbit Systems and its competitors. For the Aerospace & Defense industry, the median ROC (Joel Greenblatt) % is 10.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Elbit Systems's current ROC (Joel Greenblatt) % is 33.57%, which is near median its own 10-year median of 31.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elbit Systems stock overvalued right now?
Based on GuruFocus' analysis, Elbit Systems (FRA:EB2) is currently considered Significantly Overvalued. The stock's GF Value™ is €323.24, compared to a current price of €706.00 — trading 118.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 33.57%, which is near median its 10-year median of 31.21 and 212% above the Aerospace & Defense industry median of 10.76. Elbit Systems' overall GF Score™ is 65/100. 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 Elbit Systems (FRA:EB2), the current ROC (Joel Greenblatt) % is 33.57% 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 Elbit Systems (FRA:EB2) Overvalued in 2026?
Based on GuruFocus' analysis, Elbit Systems stock appears to be overvalued.
The current stock price of €706.00 is trading 118.4% above its estimated GF Value™ of €323.24.
GuruFocus considers Elbit Systems to be Significantly Overvalued.
Key valuation signals for FRA:EB2:
ROC (Joel Greenblatt) %: 33.57% (near median its 10-year median of 31.21)
GF Value™: €323.24 vs. price of €706.00 (118.4% above fair value)
Industry Position: 212% above the Aerospace & Defense median (#114 of 355)
No single metric tells the full story. See the FRA:EB2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Elbit Systems Ltd is a technology company involved in producing a portfolio of systems and products for aircraft, land, and naval applications. The company's products are used for defense, homeland security and commercial flight capabilities. Its systems and solutions may be installed on new platforms or it may perform a comprehensive modernization program to transform a platform. Elbit Systems gives instructions to its customers on the proper maintenance of its products and will provide support team specialists when the customer cannot fix a problem. The company operates in five segments: Aerospace; C4I and Cyber; ISTAR and EW; Land; and ESA. It derives maximum revenue from Land Segment. Geographically, it operates in Israel; North America; Europe; Asia-Pacific; Latin America; and Others.
65GF Score
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