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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. Heritage Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -82.38%.
The historical rank and industry rank for Heritage Global's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:LGC'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -381.4 Med: 242.64 Max: 2646.88
Current: -1.27
During the past 13 years, Heritage Global's highest ROC (Joel Greenblatt) % was 2646.88%. The lowest was -381.40%. And the median was 242.64%.
FRA:LGC's ROC (Joel Greenblatt) % is ranked worse than 69.37% of 679
companies
in the Capital Markets industry
Industry Median: 33.78
vs FRA:LGC: -1.27
Heritage Global's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -18.00% per year.
Heritage Global (FRA:LGC) 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.
Heritage Global ROC (Joel Greenblatt) % Related Terms
Heritage Global ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Heritage Global'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:LGC vs GSIW, MATH, VIP: ROC (Joel Greenblatt) % Comparison
For the Capital Markets subindustry, Heritage Global'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.
Heritage Global ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Heritage Global's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Heritage Global's ROC (Joel Greenblatt) % falls into.
Heritage Global 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 (Jun. 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 -82.38% mean?
Heritage Global (FRA:LGC) has a ROC (Joel Greenblatt) % of -82.38% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Heritage Global and its competitors. According to the industry distribution chart, Heritage Global ranks #471 out of 679 companies in the Capital Markets industry, placing it in the top 69.4%.
Is Heritage Global's ROC (Joel Greenblatt) % too high?
Heritage Global's current ROC (Joel Greenblatt) % is -82.38%. Based on the distribution chart, Heritage Global ranks #471 out of 679 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Heritage Global has a GF Score™ of 77/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Heritage Global's ROC (Joel Greenblatt) % compare to GSIW and MATH?
According to the Capital Markets industry distribution chart, Heritage Global ranks #471 out of 679 companies for ROC (Joel Greenblatt) %. This places Heritage Global in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 33.78. 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 33.78, based on 679 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 Heritage Global and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 33.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heritage Global's current ROC (Joel Greenblatt) % is -82.38%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heritage Global stock overvalued right now?
Based on GuruFocus' analysis, Heritage Global (FRA:LGC) is currently considered Possible Value Trap. The stock's GF Value™ is €1.86, compared to a current price of €0.96 — trading 48.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is -82.38%. Heritage Global's overall GF Score™ is 77/100 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 Heritage Global (FRA:LGC), the current ROC (Joel Greenblatt) % is -82.38% as of Jun. 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 Heritage Global (FRA:LGC) Overvalued in 2026?
Based on GuruFocus' analysis, Heritage Global stock appears to be undervalued.
The current stock price of €0.96 is trading 48.7% below its estimated GF Value™ of €1.86.
GuruFocus considers Heritage Global to be Possible Value Trap.
Key valuation signals for FRA:LGC:
ROC (Joel Greenblatt) %: -82.38%
GF Value™: €1.86 vs. price of €0.96 (48.7% below fair value)
No single metric tells the full story. See the FRA:LGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heritage Global Inc values and monetizes industrial and financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. It operates in four segments. The Auction and Liquidation segment, which operates as a full-service auction, appraisal, and asset advisory firm, includes the acquisition of turnkey manufacturing facilities and used industrial machinery and equipment. The Refurbishment & Resale segment acquires, refurbishes, and supplies specialized laboratory equipment. Brokerage segment, through NLEX, brokers charged-off receivables in the U.S. and Canada on behalf of financial institutions. The Specialty Lending segment, which provides specialty financing solutions to investors in charged-off and nonperforming asset portfolios.
77GF Score
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