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Flowers FoodsFRA:FWF -0.11%51 ROC (Joel Greenblatt) % is 23.33% as of Mar. 2026, which is 7% below its 10-year median of 25.18. GuruFocus rates FRA:FWF with a GF Score™ of 51/100 and a GF Value™ of €19.66 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 1,980 Consumer Packaged Goods companies, Flowers Foods ranks better than 52.02% 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. Flowers Foods's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.33%.
The historical rank and industry rank for Flowers Foods's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:FWF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.6 Med: 25.18 Max: 29.76
Current: 12.6
During the past 13 years, Flowers Foods's highest ROC (Joel Greenblatt) % was 29.76%. The lowest was 12.60%. And the median was 25.18%.
FRA:FWF's ROC (Joel Greenblatt) % is ranked better than 52.02% of 1980
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs FRA:FWF: 12.60
Flowers Foods's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -7.60% 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.
Flowers Foods ROC (Joel Greenblatt) % Related Terms
Flowers Foods ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Flowers Foods'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:FWF vs NOMD, JJSF, BRBR: ROC (Joel Greenblatt) % Comparison
For the Packaged Foods subindustry, Flowers Foods'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.
Flowers Foods ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Flowers Foods's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Flowers Foods'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 23.33% mean?
Flowers Foods (FRA:FWF) has a ROC (Joel Greenblatt) % of 23.33% 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 Flowers Foods and its competitors. This is near median its historical median of 25.18. Over the past decade, Flowers Foods' ROC (Joel Greenblatt) % has ranged from 12.60 to 29.76. According to the industry distribution chart, Flowers Foods ranks #950 out of 1980 companies in the Consumer Packaged Goods industry, placing it in the top 48%.
Is Flowers Foods' ROC (Joel Greenblatt) % too high?
Flowers Foods' current ROC (Joel Greenblatt) % of 23.33% is near median its 10-year median of 25.18. Over the past 10 years, this metric has ranged from a low of 12.60 to a high of 29.76. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. Flowers Foods' value of 23.33% is 94.6% above this industry median. Based on the distribution chart, Flowers Foods ranks #950 out of 1980 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Flowers Foods has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Flowers Foods' ROC (Joel Greenblatt) % compare to NOMD and JJSF?
According to the Consumer Packaged Goods industry distribution chart, Flowers Foods ranks #950 out of 1980 companies for ROC (Joel Greenblatt) %. This puts Flowers Foods in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. Flowers Foods' value of 23.33% is 94.6% above this benchmark. Historically, Flowers Foods' own ROC (Joel Greenblatt) % has ranged from 12.60 to 29.76 over the past decade. While the company's 10-year median is 25.18 vs. the industry median of 11.99, Flowers Foods 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 a Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,980 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. Flowers Foods's current ROC (Joel Greenblatt) % of 23.33% is 94.6% 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 Flowers Foods and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flowers Foods's current ROC (Joel Greenblatt) % is 23.33%, which is near median its own 10-year median of 25.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flowers Foods stock overvalued right now?
Based on GuruFocus' analysis, Flowers Foods (FRA:FWF) is currently considered Significantly Undervalued. The stock's GF Value™ is €19.66, compared to a current price of €7.18 — trading 63.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 23.33%, which is near median its 10-year median of 25.18 and 94.6% above the Consumer Packaged Goods industry median of 11.99. Flowers Foods' overall GF Score™ is 51/100 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 Flowers Foods (FRA:FWF), the current ROC (Joel Greenblatt) % is 23.33% 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 Flowers Foods (FRA:FWF) Overvalued in 2026?
Based on GuruFocus' analysis, Flowers Foods stock appears to be undervalued.
The current stock price of €7.18 is trading 63.5% below its estimated GF Value™ of €19.66.
GuruFocus considers Flowers Foods to be Significantly Undervalued.
Key valuation signals for FRA:FWF:
ROC (Joel Greenblatt) %: 23.33% (near median its 10-year median of 25.18)
GF Value™: €19.66 vs. price of €7.18 (63.5% below fair value)
Industry Position: 94.6% above the Consumer Packaged Goods median (#950 of 1980)
No single metric tells the full story. See the FRA:FWF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flowers Foods Inc operates as a producer and marketer of packaged bakery foods in the United States. Its principal products include breads, buns, rolls, snack items (bars, cakes, cookies, and crackers), bagels, English muffins, tortillas, and baking mixes. These products are sold under the brand names Nature's Own, Dave's Killer Bread (DKB), Canyon Bakehouse, Simple Mills, Wonder, and Tastykake. The company derives the majority of its revenue from the sales of its bakery products.
51GF Score
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