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Macerich CoFRA:M6G 56 ROC (Joel Greenblatt) % is 104.53% as of Mar. 2026, which is 43% above its 10-year median of 73.01. GuruFocus rates FRA:M6G with a GF Score™ of 56/100 and a GF Value™ of €13.11. The stock has 10 warning signs investors should review. Among 576 REITs companies, Macerich Co ranks worse than 76.91% 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. Macerich Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 104.53%.
The historical rank and industry rank for Macerich Co's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:M6G'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -127.88 Med: 73.01 Max: 188.47
Current: 4.32
During the past 13 years, Macerich Co's highest ROC (Joel Greenblatt) % was 188.47%. The lowest was -127.88%. And the median was 73.01%.
FRA:M6G's ROC (Joel Greenblatt) % is ranked worse than 76.91% of 576
companies
in the REITs industry
Industry Median: 166.8
vs FRA:M6G: 4.32
Macerich Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Macerich Co (FRA:M6G) 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.
Macerich Co ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Macerich Co'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:M6G vs EPRT, KRG, PECO: ROC (Joel Greenblatt) % Comparison
For the REIT - Retail subindustry, Macerich Co'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.
Macerich Co ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Macerich Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Macerich Co'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 104.53% mean?
Macerich Co (FRA:M6G) has a ROC (Joel Greenblatt) % of 104.53% 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 Macerich Co and its competitors. This is 43% above median its historical median of 73.01. According to the industry distribution chart, Macerich Co ranks #443 out of 576 companies in the REITs industry, placing it in the top 76.9%.
Is Macerich Co's ROC (Joel Greenblatt) % too high?
Macerich Co's current ROC (Joel Greenblatt) % of 104.53% is 43% above median its 10-year median of 73.01. The REITs industry median ROC (Joel Greenblatt) % is 166.80. Macerich Co's value of 104.53% is 37.3% below this industry median. Based on the distribution chart, Macerich Co ranks #443 out of 576 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Macerich Co has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does Macerich Co's ROC (Joel Greenblatt) % compare to EPRT and KRG?
According to the REITs industry distribution chart, Macerich Co ranks #443 out of 576 companies for ROC (Joel Greenblatt) %. This places Macerich Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 166.80. Macerich Co's value of 104.53% is 37.3% below this benchmark. While the company's 10-year median is 73.01 vs. the industry median of 166.80, Macerich Co has consistently been below 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 166.80, based on 576 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. Macerich Co's current ROC (Joel Greenblatt) % of 104.53% is 37.3% below 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 Macerich Co and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 166.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Macerich Co's current ROC (Joel Greenblatt) % is 104.53%, which is 43% above median its own 10-year median of 73.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Macerich Co stock overvalued right now?
Macerich Co (FRA:M6G) has a current ROC (Joel Greenblatt) % of 104.53%. The stock's GF Value™ is €13.11, compared to a current price of €22.00 — trading 67.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 104.53%, which is 43% above median its 10-year median of 73.01 and 37.3% below the REITs industry median of 166.80. Macerich Co's overall GF Score™ is 56/100 with 10 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 Macerich Co (FRA:M6G), the current ROC (Joel Greenblatt) % is 104.53% 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 Macerich Co (FRA:M6G) Overvalued in 2026?
Based on GuruFocus' analysis, Macerich Co stock appears to be overvalued.
The current stock price of €22.00 is trading 67.8% above its estimated GF Value™ of €13.11.
Key valuation signals for FRA:M6G:
ROC (Joel Greenblatt) %: 104.53% (43% above median its 10-year median of 73.01)
GF Value™: €13.11 vs. price of €22.00 (67.8% above fair value)
Industry Position: 37.3% below the REITs median (#443 of 576)
No single metric tells the full story. See the FRA:M6G stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Macerich invests in premium mall assets. The company owns 27 regional malls in its consolidated portfolio and 10 regional malls in its unconsolidated portfolio along with a power center and seven other real estate assets. The company's total portfolio has 39.9 million square feet of gross leasable area and averaged $867 sales per square foot over the 12 months ended in September 2025.
56GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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