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NovaFRA:NMR -6.13%98 ROC (Joel Greenblatt) % is 87.23% as of Mar. 2026, which is 8% above its 10-year median of 80.77. GuruFocus rates FRA:NMR with a GF Score™ of 98/100 and a GF Value™ of €297.61 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,027 Semiconductors companies, Nova ranks better than 91.82% 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. Nova's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 87.23%.
The historical rank and industry rank for Nova's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:NMR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 27.27 Med: 80.77 Max: 125.29
Current: 87.1
During the past 13 years, Nova's highest ROC (Joel Greenblatt) % was 125.29%. The lowest was 27.27%. And the median was 80.77%.
FRA:NMR's ROC (Joel Greenblatt) % is ranked better than 91.82% of 1027
companies
in the Semiconductors industry
Industry Median: 8.49
vs FRA:NMR: 87.10
Nova's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.90% per year.
Nova (FRA:NMR) 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.
The historical data trend for Nova'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:NMR vs ONTO, AMKR, ENTG: ROC (Joel Greenblatt) % Comparison
For the Semiconductor Equipment & Materials subindustry, Nova'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.
Nova ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Nova's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nova'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 87.23% mean?
Nova (FRA:NMR) has a ROC (Joel Greenblatt) % of 87.23% 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 Nova and its competitors. This is near median its historical median of 80.77. Over the past decade, Nova's ROC (Joel Greenblatt) % has ranged from 27.27 to 125.29. According to the industry distribution chart, Nova ranks #84 out of 1027 companies in the Semiconductors industry, placing it in the top 8.2%.
Is Nova's ROC (Joel Greenblatt) % too high?
Nova's current ROC (Joel Greenblatt) % of 87.23% is near median its 10-year median of 80.77. Over the past 10 years, this metric has ranged from a low of 27.27 to a high of 125.29. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.49. Nova's value of 87.23% is 927.4% above this industry median. Based on the distribution chart, Nova ranks #84 out of 1027 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Nova has a GF Score™ of 98/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nova's ROC (Joel Greenblatt) % compare to ONTO and AMKR?
According to the Semiconductors industry distribution chart, Nova ranks #84 out of 1027 companies for ROC (Joel Greenblatt) %. This places Nova in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.49. Nova's value of 87.23% is 927.4% above this benchmark. Historically, Nova's own ROC (Joel Greenblatt) % has ranged from 27.27 to 125.29 over the past decade. While the company's 10-year median is 80.77 vs. the industry median of 8.49, Nova 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 Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.49, based on 1,027 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. Nova's current ROC (Joel Greenblatt) % of 87.23% is 927.4% 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 Nova and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nova's current ROC (Joel Greenblatt) % is 87.23%, which is near median its own 10-year median of 80.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nova stock overvalued right now?
Based on GuruFocus' analysis, Nova (FRA:NMR) is currently considered Modestly Overvalued. The stock's GF Value™ is €297.61, compared to a current price of €348.90 — trading 17.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 87.23%, which is near median its 10-year median of 80.77 and 927.4% above the Semiconductors industry median of 8.49. Nova's overall GF Score™ is 98/100 with 3 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 Nova (FRA:NMR), the current ROC (Joel Greenblatt) % is 87.23% 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 Nova (FRA:NMR) Overvalued in 2026?
Based on GuruFocus' analysis, Nova stock appears to be overvalued.
The current stock price of €348.90 is trading 17.2% above its estimated GF Value™ of €297.61.
GuruFocus considers Nova to be Modestly Overvalued.
Key valuation signals for FRA:NMR:
ROC (Joel Greenblatt) %: 87.23% (near median its 10-year median of 80.77)
GF Value™: €297.61 vs. price of €348.90 (17.2% above fair value)
Industry Position: 927.4% above the Semiconductors median (#84 of 1027)
No single metric tells the full story. See the FRA:NMR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nova Ltd is a provider of metrology and process control solutions used in semiconductor manufacturing. The company provides high-performance metrology solutions across the semiconductor fabrication lifecycle and develops differentiated inline metrology solutions deployed by a broad range of customers, including integrated circuit manufacturers. Its portfolio combines high-precision hardware and software, enabling customers to improve device performance, enhance yields, and accelerate time to market. Its products include Dimensional Metrology, Materials Metrology, Chemical Metrology, and Software Solutions. The company operates in China, Taiwan, R.O.C., the United States and other regions, with maximum revenue coming from China.
98GF Score
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