Modern Times Group MTG ABFRA:MRTA +0.18%74 ROC (Joel Greenblatt) % is 332.66% as of Mar. 2026, which is 171% above its 10-year median of 122.89. GuruFocus rates FRA:MRTA with a GF Score™ of 74/100 and a GF Value™ of €15.48 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 549 Interactive Media companies, Modern Times Group MTG AB ranks better than 81.06% 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. Modern Times Group MTG AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 332.66%.
The historical rank and industry rank for Modern Times Group MTG AB's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:MRTA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -156.18 Med: 122.89 Max: 403.84
Current: 260.97
During the past 13 years, Modern Times Group MTG AB's highest ROC (Joel Greenblatt) % was 403.84%. The lowest was -156.18%. And the median was 122.89%.
FRA:MRTA's ROC (Joel Greenblatt) % is ranked better than 81.06% of 549
companies
in the Interactive Media industry
Industry Median: 17.9
vs FRA:MRTA: 260.97
Modern Times Group MTG AB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 35.70% per year.
Modern Times Group MTG AB (FRA:MRTA) 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.
Modern Times Group MTG AB ROC (Joel Greenblatt) % Related Terms
Modern Times Group MTG AB ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Modern Times Group MTG AB'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.
Modern Times Group MTG AB ROC (Joel Greenblatt) % Chart
FRA:MRTA vs NTES, EA, TTWO: ROC (Joel Greenblatt) % Comparison
For the Electronic Gaming & Multimedia subindustry, Modern Times Group MTG AB'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.
Modern Times Group MTG AB ROC (Joel Greenblatt) % vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Modern Times Group MTG AB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Modern Times Group MTG AB's ROC (Joel Greenblatt) % falls into.
Modern Times Group MTG AB 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 (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 332.66% mean?
Modern Times Group MTG AB (FRA:MRTA) has a ROC (Joel Greenblatt) % of 332.66% 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 Modern Times Group MTG AB and its competitors. This is 171% above median its historical median of 122.89. According to the industry distribution chart, Modern Times Group MTG AB ranks #104 out of 549 companies in the Interactive Media industry, placing it in the top 18.9%.
Is Modern Times Group MTG AB's ROC (Joel Greenblatt) % too high?
Modern Times Group MTG AB's current ROC (Joel Greenblatt) % of 332.66% is 171% above median its 10-year median of 122.89. The Interactive Media industry median ROC (Joel Greenblatt) % is 17.90. Modern Times Group MTG AB's value of 332.66% is 1758.4% above this industry median. Based on the distribution chart, Modern Times Group MTG AB ranks #104 out of 549 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, Modern Times Group MTG AB has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Modern Times Group MTG AB's ROC (Joel Greenblatt) % compare to NTES and EA?
According to the Interactive Media industry distribution chart, Modern Times Group MTG AB ranks #104 out of 549 companies for ROC (Joel Greenblatt) %. This places Modern Times Group MTG AB in the top 19% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 17.90. Modern Times Group MTG AB's value of 332.66% is 1758.4% above this benchmark. While the company's 10-year median is 122.89 vs. the industry median of 17.90, Modern Times Group MTG AB 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 Interactive Media company?
The median ROC (Joel Greenblatt) % among Interactive Media companies is 17.90, based on 549 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. Modern Times Group MTG AB's current ROC (Joel Greenblatt) % of 332.66% is 1758.4% 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 Modern Times Group MTG AB and its competitors. For the Interactive Media industry, the median ROC (Joel Greenblatt) % is 17.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Modern Times Group MTG AB's current ROC (Joel Greenblatt) % is 332.66%, which is 171% above median its own 10-year median of 122.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Times Group MTG AB stock overvalued right now?
Based on GuruFocus' analysis, Modern Times Group MTG AB (FRA:MRTA) is currently considered Modestly Undervalued. The stock's GF Value™ is €15.48, compared to a current price of €11.09 — trading 28.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 332.66%, which is 171% above median its 10-year median of 122.89 and 1758.4% above the Interactive Media industry median of 17.90. Modern Times Group MTG AB's overall GF Score™ is 74/100 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 Modern Times Group MTG AB (FRA:MRTA), the current ROC (Joel Greenblatt) % is 332.66% 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 Modern Times Group MTG AB (FRA:MRTA) Overvalued in 2026?
Based on GuruFocus' analysis, Modern Times Group MTG AB stock appears to be undervalued.
The current stock price of €11.09 is trading 28.4% below its estimated GF Value™ of €15.48.
GuruFocus considers Modern Times Group MTG AB to be Modestly Undervalued.
Key valuation signals for FRA:MRTA:
ROC (Joel Greenblatt) %: 332.66% (171% above median its 10-year median of 122.89)
GF Value™: €15.48 vs. price of €11.09 (28.4% below fair value)
Industry Position: 1758.4% above the Interactive Media median (#104 of 549)
No single metric tells the full story. See the FRA:MRTA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Modern Times Group MTG AB owns and operates gaming companies and studios with popular IPs across a wide range of casual and mid-core genres. The company's portfolio covers a wide range of evergreen gaming franchises like RAID: Shadow Legends, Forge of Empires, Top Drives, and Bloons, as well as word games like CrossWord Jam and WordTrip. Its games generate revenues through in-app purchases, advertising, and from third-party distribution platforms. It operates in a single business segment.
74GF Score
Get the complete analysis for FRA:MRTA
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:MRTA has been successfully added to your 
