Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Sleep NumberFRA:SL2 53 ROC (Joel Greenblatt) % is -38.68% as of Mar. 2026. GuruFocus rates FRA:SL2 with a GF Score™ of 53/100 and a GF Value™ of €47.02 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 433 Furnishings, Fixtures & Appliances companies, Sleep Number ranks worse than 90.07% 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. Sleep Number's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -38.68%.
The historical rank and industry rank for Sleep Number's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:SL2'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -20.38 Med: 33.59 Max: 44.62
Current: -20.38
During the past 13 years, Sleep Number's highest ROC (Joel Greenblatt) % was 44.62%. The lowest was -20.38%. And the median was 33.59%.
FRA:SL2's ROC (Joel Greenblatt) % is ranked worse than 90.07% of 433
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 9.37
vs FRA:SL2: -20.38
Sleep Number's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Sleep Number (FRA:SL2) 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.
Sleep Number ROC (Joel Greenblatt) % Related Terms
Sleep Number ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Sleep Number'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:SL2 vs LBRA, LUVU, SN: ROC (Joel Greenblatt) % Comparison
For the Furnishings, Fixtures & Appliances subindustry, Sleep Number'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.
Sleep Number ROC (Joel Greenblatt) % vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Sleep Number's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Sleep Number'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 -38.68% mean?
Sleep Number (FRA:SL2) has a ROC (Joel Greenblatt) % of -38.68% 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 Sleep Number and its competitors. According to the industry distribution chart, Sleep Number ranks #390 out of 433 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 90.1%.
Is Sleep Number's ROC (Joel Greenblatt) % too high?
Sleep Number's current ROC (Joel Greenblatt) % is -38.68%. Based on the distribution chart, Sleep Number ranks #390 out of 433 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Sleep Number has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sleep Number's ROC (Joel Greenblatt) % compare to LBRA and LUVU?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Sleep Number ranks #390 out of 433 companies for ROC (Joel Greenblatt) %. This places Sleep Number in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 9.37. 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 Furnishings, Fixtures & Appliances company?
The median ROC (Joel Greenblatt) % among Furnishings, Fixtures & Appliances companies is 9.37, based on 433 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. 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 Sleep Number and its competitors. For the Furnishings, Fixtures & Appliances industry, the median ROC (Joel Greenblatt) % is 9.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sleep Number's current ROC (Joel Greenblatt) % is -38.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sleep Number stock overvalued right now?
Based on GuruFocus' analysis, Sleep Number (FRA:SL2) is currently considered Possible Value Trap. The stock's GF Value™ is €47.02, compared to a current price of €0.13 — trading 99.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is -38.68%. Sleep Number's overall GF Score™ is 53/100 with 8 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 Sleep Number (FRA:SL2), the current ROC (Joel Greenblatt) % is -38.68% 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 Sleep Number (FRA:SL2) Overvalued in 2026?
Based on GuruFocus' analysis, Sleep Number stock appears to be undervalued.
The current stock price of €0.13 is trading 99.7% below its estimated GF Value™ of €47.02.
GuruFocus considers Sleep Number to be Possible Value Trap.
Key valuation signals for FRA:SL2:
ROC (Joel Greenblatt) %: -38.68%
GF Value™: €47.02 vs. price of €0.13 (99.7% below fair value)
No single metric tells the full story. See the FRA:SL2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sleep Number Corp is a designer, manufacturer, marketer, and retailer, which allows it to offer consumers high-quality, individualized sleep solutions and services. It also offers FlextFit adjustable bases, and Sleep Number pillows, sheets, and other bedding products. The company generates revenue by marketing its innovations directly to new and existing customers and selling products through its Stores, Online, Phone, Chat (Total Retail), and Other. It focuses on personalized sleep wellness, with mattresses designed to evolve with each sleeper to help them feel and perform well, featuring adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress. Its products include mattresses, bundles, bedding, pillows, and furniture.
53GF Score
Get the complete analysis for FRA:SL2
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:SL2 has been successfully added to your 
