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PPG IndustriesFRA:PPQ +1.20%87 ROC (Joel Greenblatt) % is 36.90% as of Mar. 2026, which is 12% below its 10-year median of 41.71. GuruFocus rates FRA:PPQ with a GF Score™ of 87/100 and a GF Value™ of €122.76 (Modestly Undervalued). Among 1,605 Chemicals companies, PPG Industries ranks better than 90.34% 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. PPG Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 36.90%.
The historical rank and industry rank for PPG Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:PPQ'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 27.28 Med: 41.71 Max: 61.05
Current: 36.02
During the past 13 years, PPG Industries's highest ROC (Joel Greenblatt) % was 61.05%. The lowest was 27.28%. And the median was 41.71%.
FRA:PPQ's ROC (Joel Greenblatt) % is ranked better than 90.34% of 1605
companies
in the Chemicals industry
Industry Median: 9.47
vs FRA:PPQ: 36.02
PPG Industries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.30% per year.
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.
PPG Industries ROC (Joel Greenblatt) % Related Terms
PPG Industries ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for PPG Industries'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:PPQ vs IFF, DD, LYB: ROC (Joel Greenblatt) % Comparison
For the Specialty Chemicals subindustry, PPG Industries'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.
PPG Industries ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, PPG Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PPG Industries'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 36.90% mean?
PPG Industries (FRA:PPQ) has a ROC (Joel Greenblatt) % of 36.90% 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 PPG Industries and its competitors. This is 12% below median its historical median of 41.71. Over the past decade, PPG Industries' ROC (Joel Greenblatt) % has ranged from 27.28 to 61.05. According to the industry distribution chart, PPG Industries ranks #155 out of 1605 companies in the Chemicals industry, placing it in the top 9.7%.
Is PPG Industries' ROC (Joel Greenblatt) % too high?
PPG Industries' current ROC (Joel Greenblatt) % of 36.90% is 12% below median its 10-year median of 41.71. Over the past 10 years, this metric has ranged from a low of 27.28 to a high of 61.05. The Chemicals industry median ROC (Joel Greenblatt) % is 9.47. PPG Industries' value of 36.90% is 289.7% above this industry median. Based on the distribution chart, PPG Industries ranks #155 out of 1605 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, PPG Industries has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PPG Industries' ROC (Joel Greenblatt) % compare to IFF and DD?
According to the Chemicals industry distribution chart, PPG Industries ranks #155 out of 1605 companies for ROC (Joel Greenblatt) %. This places PPG Industries in the top 10% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.47. PPG Industries' value of 36.90% is 289.7% above this benchmark. Historically, PPG Industries' own ROC (Joel Greenblatt) % has ranged from 27.28 to 61.05 over the past decade. While the company's 10-year median is 41.71 vs. the industry median of 9.47, PPG Industries 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 Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 9.47, based on 1,605 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. PPG Industries's current ROC (Joel Greenblatt) % of 36.90% is 289.7% 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 PPG Industries and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PPG Industries's current ROC (Joel Greenblatt) % is 36.90%, which is 12% below median its own 10-year median of 41.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PPG Industries stock overvalued right now?
Based on GuruFocus' analysis, PPG Industries (FRA:PPQ) is currently considered Modestly Undervalued. The stock's GF Value™ is €122.76, compared to a current price of €100.55 — trading 18.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 36.90%, which is 12% below median its 10-year median of 41.71 and 289.7% above the Chemicals industry median of 9.47. PPG Industries' overall GF Score™ is 87/100. 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 PPG Industries (FRA:PPQ), the current ROC (Joel Greenblatt) % is 36.90% 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 PPG Industries (FRA:PPQ) Overvalued in 2026?
Based on GuruFocus' analysis, PPG Industries stock appears to be undervalued.
The current stock price of €100.55 is trading 18.1% below its estimated GF Value™ of €122.76.
GuruFocus considers PPG Industries to be Modestly Undervalued.
Key valuation signals for FRA:PPQ:
ROC (Joel Greenblatt) %: 36.90% (12% below median its 10-year median of 41.71)
GF Value™: €122.76 vs. price of €100.55 (18.1% below fair value)
Industry Position: 289.7% above the Chemicals median (#155 of 1605)
No single metric tells the full story. See the FRA:PPQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PPG is the world's second-largest producer of paints and coatings. PPG's products are sold to a wide variety of end users, including industrial segments such as automotive, aerospace, and protective and marine, as well as paint contractors and do-it-yourself customers. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years.
87GF Score
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