SmartgroupFRA:SW8 +1.99%89 ROC (Joel Greenblatt) % is 363.33% as of Dec. 2025, which is 47% below its 10-year median of 684.18. GuruFocus rates FRA:SW8 with a GF Score™ of 89/100 and a GF Value™ of €5.87. The stock has 6 warning signs investors should review. Among 1,081 Business Services companies, Smartgroup ranks better than 93.06% 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. Smartgroup's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 363.33%.
The historical rank and industry rank for Smartgroup's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:SW8'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 390.75 Med: 684.18 Max: 2145.79
Current: 390.75
During the past 12 years, Smartgroup's highest ROC (Joel Greenblatt) % was 2145.79%. The lowest was 390.75%. And the median was 684.18%.
FRA:SW8's ROC (Joel Greenblatt) % is ranked better than 93.06% of 1081
companies
in the Business Services industry
Industry Median: 20.97
vs FRA:SW8: 390.75
Smartgroup's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -8.30% 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.
Smartgroup ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Smartgroup'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:SW8 vs CTAS, CPRT, ULS: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, Smartgroup'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.
Smartgroup ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Smartgroup's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Smartgroup'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 363.33% mean?
Smartgroup (FRA:SW8) has a ROC (Joel Greenblatt) % of 363.33% 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 Smartgroup and its competitors. This is 47% below median its historical median of 684.18. Over the past decade, Smartgroup's ROC (Joel Greenblatt) % has ranged from 390.75 to 2,145.79. According to the industry distribution chart, Smartgroup ranks #75 out of 1081 companies in the Business Services industry, placing it in the top 6.9%.
Is Smartgroup's ROC (Joel Greenblatt) % too high?
Smartgroup's current ROC (Joel Greenblatt) % of 363.33% is 47% below median its 10-year median of 684.18. Over the past 10 years, this metric has ranged from a low of 390.75 to a high of 2,145.79. The Business Services industry median ROC (Joel Greenblatt) % is 20.97. Smartgroup's value of 363.33% is 1632.6% above this industry median. Based on the distribution chart, Smartgroup ranks #75 out of 1081 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Smartgroup has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does Smartgroup's ROC (Joel Greenblatt) % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Smartgroup ranks #75 out of 1081 companies for ROC (Joel Greenblatt) %. This places Smartgroup in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 20.97. Smartgroup's value of 363.33% is 1632.6% above this benchmark. Historically, Smartgroup's own ROC (Joel Greenblatt) % has ranged from 390.75 to 2,145.79 over the past decade. While the company's 10-year median is 684.18 vs. the industry median of 20.97, Smartgroup 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 20.97, based on 1,081 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. Smartgroup's current ROC (Joel Greenblatt) % of 363.33% is 1632.6% 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 Smartgroup and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 20.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Smartgroup's current ROC (Joel Greenblatt) % is 363.33%, which is 47% below median its own 10-year median of 684.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smartgroup stock overvalued right now?
Smartgroup (FRA:SW8) has a current ROC (Joel Greenblatt) % of 363.33%. The stock's GF Value™ is €5.87, compared to a current price of €7.70 — trading 31.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 363.33%, which is 47% below median its 10-year median of 684.18 and 1632.6% above the Business Services industry median of 20.97. Smartgroup's overall GF Score™ is 89/100 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 Smartgroup (FRA:SW8), the current ROC (Joel Greenblatt) % is 363.33% 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 Smartgroup (FRA:SW8) Overvalued in 2026?
Based on GuruFocus' analysis, Smartgroup stock appears to be overvalued.
The current stock price of €7.70 is trading 31.2% above its estimated GF Value™ of €5.87.
Key valuation signals for FRA:SW8:
ROC (Joel Greenblatt) %: 363.33% (47% below median its 10-year median of 684.18)
GF Value™: €5.87 vs. price of €7.70 (31.2% above fair value)
Industry Position: 1632.6% above the Business Services median (#75 of 1081)
No single metric tells the full story. See the FRA:SW8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smartgroup Corporation is an Australia-based company that provides specialist employee management services. Its services include salary packaging, novated leasing, vehicle fleet management, payroll administration, employee share plan administration and workforce optimization. The operating segments of the company are: outsourced administration, or OA, and vehicle services, or VS. Most of the group's revenue is generated from the OA segment which provides outsourced salary packaging services, novated leasing, share plan administration and outsourced payroll services. The VS segment provides end-to-end vehicle fleet management services.
89GF Score
Get the complete analysis for FRA:SW8
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:SW8 has been successfully added to your 
