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Singapore ExchangeFRA:SOU +0.62%88 ROC (Joel Greenblatt) % is 691.52% as of Dec. 2025, which is 17% above its 10-year median of 591.32. GuruFocus rates FRA:SOU with a GF Score™ of 88/100 and a GF Value™ of €8.71 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 678 Capital Markets companies, Singapore Exchange ranks better than 87.46% 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. Singapore Exchange's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 691.52%.
The historical rank and industry rank for Singapore Exchange's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:SOU'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 420.46 Med: 591.32 Max: 849.88
Current: 652.56
During the past 13 years, Singapore Exchange's highest ROC (Joel Greenblatt) % was 849.88%. The lowest was 420.46%. And the median was 591.32%.
FRA:SOU's ROC (Joel Greenblatt) % is ranked better than 87.46% of 678
companies
in the Capital Markets industry
Industry Median: 34.895
vs FRA:SOU: 652.56
Singapore Exchange's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 6.20% 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.
Singapore Exchange ROC (Joel Greenblatt) % Related Terms
Singapore Exchange ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Singapore Exchange'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:SOU vs SPGI, CME, MCO: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, Singapore Exchange'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.
Singapore Exchange ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Singapore Exchange's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Singapore Exchange'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 691.52% mean?
Singapore Exchange (FRA:SOU) has a ROC (Joel Greenblatt) % of 691.52% 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 Singapore Exchange and its competitors. This is 17% above median its historical median of 591.32. Over the past decade, Singapore Exchange's ROC (Joel Greenblatt) % has ranged from 420.46 to 849.88. According to the industry distribution chart, Singapore Exchange ranks #85 out of 678 companies in the Capital Markets industry, placing it in the top 12.5%.
Is Singapore Exchange's ROC (Joel Greenblatt) % too high?
Singapore Exchange's current ROC (Joel Greenblatt) % of 691.52% is 17% above median its 10-year median of 591.32. Over the past 10 years, this metric has ranged from a low of 420.46 to a high of 849.88. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.90. Singapore Exchange's value of 691.52% is 1881.7% above this industry median. Based on the distribution chart, Singapore Exchange ranks #85 out of 678 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Singapore Exchange has a GF Score™ of 88/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Singapore Exchange's ROC (Joel Greenblatt) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Singapore Exchange ranks #85 out of 678 companies for ROC (Joel Greenblatt) %. This places Singapore Exchange in the top 13% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.90. Singapore Exchange's value of 691.52% is 1881.7% above this benchmark. Historically, Singapore Exchange's own ROC (Joel Greenblatt) % has ranged from 420.46 to 849.88 over the past decade. While the company's 10-year median is 591.32 vs. the industry median of 34.90, Singapore Exchange 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.90, based on 678 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. Singapore Exchange's current ROC (Joel Greenblatt) % of 691.52% is 1881.7% 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 Singapore Exchange and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Singapore Exchange's current ROC (Joel Greenblatt) % is 691.52%, which is 17% above median its own 10-year median of 591.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Singapore Exchange stock overvalued right now?
Based on GuruFocus' analysis, Singapore Exchange (FRA:SOU) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.71, compared to a current price of €16.30 — trading 87.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 691.52%, which is 17% above median its 10-year median of 591.32 and 1881.7% above the Capital Markets industry median of 34.90. Singapore Exchange's overall GF Score™ is 88/100 with 5 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 Singapore Exchange (FRA:SOU), the current ROC (Joel Greenblatt) % is 691.52% 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.
Is Singapore Exchange (FRA:SOU) Overvalued in 2026?
Based on GuruFocus' analysis, Singapore Exchange stock appears to be overvalued.
The current stock price of €16.30 is trading 87.1% above its estimated GF Value™ of €8.71.
GuruFocus considers Singapore Exchange to be Significantly Overvalued.
Key valuation signals for FRA:SOU:
ROC (Joel Greenblatt) %: 691.52% (17% above median its 10-year median of 591.32)
GF Value™: €8.71 vs. price of €16.30 (87.1% above fair value)
Industry Position: 1881.7% above the Capital Markets median (#85 of 678)
No single metric tells the full story. See the FRA:SOU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Singapore Exchange is a vertically integrated securities exchange business, offering listing-, data-, trading-, clearing- and settlement services across equities, debt and derivatives. Singapore Exchange, like Singapore itself, is remarkably outward-facing and offers some of the most liquid and widely traded equity derivative products for various regional markets, including the FTSE China A50 Index Futures.
88GF Score
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