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. ArcelorMittal South Africa's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -26.08%.
The historical rank and industry rank for ArcelorMittal South Africa's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:ISC1'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -41.01 Med: -16.64 Max: 78.43
Current: -15.74
During the past 13 years, ArcelorMittal South Africa's highest ROC (Joel Greenblatt) % was 78.43%. The lowest was -41.01%. And the median was -16.64%.
FRA:ISC1's ROC (Joel Greenblatt) % is ranked worse than 92.1% of 633
companies
in the Steel industry
Industry Median: 6.93
vs FRA:ISC1: -15.74
ArcelorMittal South Africa (FRA:ISC1) 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.
ArcelorMittal South Africa ROC (Joel Greenblatt) % Chart
FRA:ISC1 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, ArcelorMittal South Africa'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.
ArcelorMittal South Africa ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, ArcelorMittal South Africa's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ArcelorMittal South Africa's ROC (Joel Greenblatt) % falls into.
ArcelorMittal South Africa 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 two times the semi-annual (Dec. 2025) 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 -26.08% mean?
ArcelorMittal South Africa (FRA:ISC1) has a ROC (Joel Greenblatt) % of -26.08% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on ArcelorMittal South Africa and its competitors. According to the industry distribution chart, ArcelorMittal South Africa ranks #583 out of 633 companies in the Steel industry, placing it in the top 92.1%.
Is ArcelorMittal South Africa's ROC (Joel Greenblatt) % too high?
ArcelorMittal South Africa's current ROC (Joel Greenblatt) % is -26.08%. Based on the distribution chart, ArcelorMittal South Africa ranks #583 out of 633 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, ArcelorMittal South Africa has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.
How does ArcelorMittal South Africa's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, ArcelorMittal South Africa ranks #583 out of 633 companies for ROC (Joel Greenblatt) %. This places ArcelorMittal South Africa in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 6.93. 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 6.93, based on 633 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. 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 ArcelorMittal South Africa and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ArcelorMittal South Africa's current ROC (Joel Greenblatt) % is -26.08%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ArcelorMittal South Africa stock overvalued right now?
ArcelorMittal South Africa (FRA:ISC1) has a current ROC (Joel Greenblatt) % of -26.08%. The stock's GF Value™ is €0.06, compared to a current price of €0.06 — trading 2.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is -26.08%. ArcelorMittal South Africa's overall GF Score™ is 54/100 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 ArcelorMittal South Africa (FRA:ISC1), the current ROC (Joel Greenblatt) % is -26.08% as of Dec. 2025. 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 ArcelorMittal South Africa (FRA:ISC1) Overvalued in 2026?
Based on GuruFocus' analysis, ArcelorMittal South Africa stock appears to be overvalued.
The current stock price of €0.06 is trading 2.5% above its estimated GF Value™ of €0.06.
Key valuation signals for FRA:ISC1:
ROC (Joel Greenblatt) %: -26.08%
GF Value™: €0.06 vs. price of €0.06 (2.5% above fair value)
No single metric tells the full story. See the FRA:ISC1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ArcelorMittal South Africa Ltd is a South Africa-based steel-producing company. The company's operating segments include Steel operations; Non-steel operations; Corporate and others. It generates the majority of total revenue from the Steel Operations segment that consist of Vanderbijlpark plant, Newcastle plant, Vereeniging plant and ArcelorMittal Rail and Structures. The product range consists of hot-rolled coil, plate, coiled rounds, flats, reinforced bars, rounds, billets and channels, and commercial coke among others. The group operates mainly in South Africa. Export sales are mostly sold in sub-Saharan Africa, Asia, Europe, and America.
54GF Score
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