L1 GroupFRA:PIJ0 39 ROC (Joel Greenblatt) % is 551.24% as of Dec. 2025, which is 13% below its 10-year median of 635.81. GuruFocus rates FRA:PIJ0 with a GF Score™ of 39/100. The stock has 6 warning signs investors should review. Among 627 Asset Management companies, L1 Group ranks better than 71.77% 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. L1 Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 551.24%.
The historical rank and industry rank for L1 Group's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:PIJ0'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 174.01 Med: 635.81 Max: 985.93
Current: 396.63
During the past 13 years, L1 Group's highest ROC (Joel Greenblatt) % was 985.93%. The lowest was 174.01%. And the median was 635.81%.
FRA:PIJ0's ROC (Joel Greenblatt) % is ranked better than 71.77% of 627
companies
in the Asset Management industry
Industry Median: 63.97
vs FRA:PIJ0: 396.63
L1 Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -27.50% per year.
L1 Group (FRA:PIJ0) 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 L1 Group'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:PIJ0 vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, L1 Group'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.
L1 Group ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, L1 Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where L1 Group'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 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 551.24% mean?
L1 Group (FRA:PIJ0) has a ROC (Joel Greenblatt) % of 551.24% 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 L1 Group and its competitors. This is 13% below median its historical median of 635.81. Over the past decade, L1 Group's ROC (Joel Greenblatt) % has ranged from 174.01 to 985.93. According to the industry distribution chart, L1 Group ranks #177 out of 627 companies in the Asset Management industry, placing it in the top 28.2%.
Is L1 Group's ROC (Joel Greenblatt) % too high?
L1 Group's current ROC (Joel Greenblatt) % of 551.24% is 13% below median its 10-year median of 635.81. Over the past 10 years, this metric has ranged from a low of 174.01 to a high of 985.93. The Asset Management industry median ROC (Joel Greenblatt) % is 63.97. L1 Group's value of 551.24% is 761.7% above this industry median. Based on the distribution chart, L1 Group ranks #177 out of 627 companies in the Asset Management industry, which is above the industry midpoint. Overall, L1 Group has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does L1 Group's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, L1 Group ranks #177 out of 627 companies for ROC (Joel Greenblatt) %. This puts L1 Group in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 63.97. L1 Group's value of 551.24% is 761.7% above this benchmark. Historically, L1 Group's own ROC (Joel Greenblatt) % has ranged from 174.01 to 985.93 over the past decade. While the company's 10-year median is 635.81 vs. the industry median of 63.97, L1 Group 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 Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.97, based on 627 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. L1 Group's current ROC (Joel Greenblatt) % of 551.24% is 761.7% 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 L1 Group and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. L1 Group's current ROC (Joel Greenblatt) % is 551.24%, which is 13% below median its own 10-year median of 635.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is L1 Group stock overvalued right now?
L1 Group (FRA:PIJ0) has a current ROC (Joel Greenblatt) % of 551.24%. The current ROC (Joel Greenblatt) % is 551.24%, which is 13% below median its 10-year median of 635.81 and 761.7% above the Asset Management industry median of 63.97. L1 Group's overall GF Score™ is 39/100 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 L1 Group (FRA:PIJ0), the current ROC (Joel Greenblatt) % is 551.24% 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.
L1 Group was formed through the merger of two Australian investment management firms: Platinum Asset Management, a Sydney-based international equities manager founded in 1994, and L1 Capital, a Melbourne-based boutique founded in 2007 with diversified capabilities across equities, alternatives, and property investments. The combined entity serves a diverse client base encompassing institutional investors, wholesale clients, high-net-worth individuals, and retail investors across both domestic and international markets. The firm had approximately AUD 18 billion in funds under management as of April 2026.
39GF Score
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