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United Natural FoodsFRA:UN3 +2.80%60 ROC (Joel Greenblatt) % is 7.30% as of Apr. 2026, which is 13% above its 10-year median of 6.44. GuruFocus rates FRA:UN3 with a GF Score™ of 60/100 and a GF Value™ of €18.77 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 311 Retail - Defensive companies, United Natural Foods ranks worse than 78.78% 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. United Natural Foods's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 7.30%.
The historical rank and industry rank for United Natural Foods's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:UN3'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6.35 Med: 6.44 Max: 14.53
Current: 1.76
During the past 13 years, United Natural Foods's highest ROC (Joel Greenblatt) % was 14.53%. The lowest was -6.35%. And the median was 6.44%.
FRA:UN3's ROC (Joel Greenblatt) % is ranked worse than 78.78% of 311
companies
in the Retail - Defensive industry
Industry Median: 13.63
vs FRA:UN3: 1.76
United Natural Foods's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
United Natural Foods (FRA:UN3) 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.
United Natural Foods ROC (Joel Greenblatt) % Related Terms
United Natural Foods ROC (Joel Greenblatt) % Historical Data
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The historical data trend for United Natural Foods'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.
United Natural Foods ROC (Joel Greenblatt) % Chart
FRA:UN3 vs ANDE, CHEF, AVO: ROC (Joel Greenblatt) % Comparison
For the Food Distribution subindustry, United Natural Foods'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.
United Natural Foods ROC (Joel Greenblatt) % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, United Natural Foods's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where United Natural Foods's ROC (Joel Greenblatt) % falls into.
United Natural Foods ROC (Joel Greenblatt) % Calculation
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 (Apr. 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 7.30% mean?
United Natural Foods (FRA:UN3) has a ROC (Joel Greenblatt) % of 7.30% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on United Natural Foods and its competitors. This is 13% above median its historical median of 6.44. According to the industry distribution chart, United Natural Foods ranks #245 out of 311 companies in the Retail - Defensive industry, placing it in the top 78.8%.
Is United Natural Foods' ROC (Joel Greenblatt) % too high?
United Natural Foods' current ROC (Joel Greenblatt) % of 7.30% is 13% above median its 10-year median of 6.44. The Retail - Defensive industry median ROC (Joel Greenblatt) % is 13.63. United Natural Foods' value of 7.30% is 46.4% below this industry median. Based on the distribution chart, United Natural Foods ranks #245 out of 311 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, United Natural Foods has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does United Natural Foods' ROC (Joel Greenblatt) % compare to ANDE and CHEF?
According to the Retail - Defensive industry distribution chart, United Natural Foods ranks #245 out of 311 companies for ROC (Joel Greenblatt) %. This places United Natural Foods in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 13.63. United Natural Foods' value of 7.30% is 46.4% below this benchmark. While the company's 10-year median is 6.44 vs. the industry median of 13.63, United Natural Foods has consistently been below 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 Retail - Defensive company?
The median ROC (Joel Greenblatt) % among Retail - Defensive companies is 13.63, based on 311 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. United Natural Foods's current ROC (Joel Greenblatt) % of 7.30% is 46.4% below 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 United Natural Foods and its competitors. For the Retail - Defensive industry, the median ROC (Joel Greenblatt) % is 13.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Natural Foods's current ROC (Joel Greenblatt) % is 7.30%, which is 13% above median its own 10-year median of 6.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Natural Foods stock overvalued right now?
Based on GuruFocus' analysis, United Natural Foods (FRA:UN3) is currently considered Significantly Overvalued. The stock's GF Value™ is €18.77, compared to a current price of €42.66 — trading 127.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 7.30%, which is 13% above median its 10-year median of 6.44 and 46.4% below the Retail - Defensive industry median of 13.63. United Natural Foods' overall GF Score™ is 60/100 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 United Natural Foods (FRA:UN3), the current ROC (Joel Greenblatt) % is 7.30% as of Apr. 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 United Natural Foods (FRA:UN3) Overvalued in 2026?
Based on GuruFocus' analysis, United Natural Foods stock appears to be overvalued.
The current stock price of €42.66 is trading 127.3% above its estimated GF Value™ of €18.77.
GuruFocus considers United Natural Foods to be Significantly Overvalued.
Key valuation signals for FRA:UN3:
ROC (Joel Greenblatt) %: 7.30% (13% above median its 10-year median of 6.44)
GF Value™: €18.77 vs. price of €42.66 (127.3% above fair value)
Industry Position: 46.4% below the Retail - Defensive median (#245 of 311)
No single metric tells the full story. See the FRA:UN3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America. The company's products consist of national, regional and private label brands grouped into grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items. United Natural Foods serves various retail formats including conventional supermarket chains, natural product superstores, independent retail operators and foodservice channels such as e-commerce platforms. The company's operations are comprised of principal divisions: the wholesale division; the retail division; and other.
60GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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