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CovivioGSEFF 61 ROC (Joel Greenblatt) % is 47.83% as of Dec. 2025, which is 40% below its 10-year median of 79.30. GuruFocus rates GSEFF with a GF Score™ of 61/100 and a GF Value™ of $46.00 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 586 REITs companies, Covivio ranks worse than 62.63% 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. Covivio's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 47.83%.
The historical rank and industry rank for Covivio's ROC (Joel Greenblatt) % or its related term are showing as below:
GSEFF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -94.22 Med: 79.3 Max: 365.03
Current: 55.15
During the past 13 years, Covivio's highest ROC (Joel Greenblatt) % was 365.03%. The lowest was -94.22%. And the median was 79.30%.
GSEFF's ROC (Joel Greenblatt) % is ranked worse than 62.63% of 586
companies
in the REITs industry
Industry Median: 180.645
vs GSEFF: 55.15
Covivio's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
The historical data trend for Covivio'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.
GSEFF vs VICI, WPC, BNL: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, Covivio'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.
Covivio ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Covivio's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Covivio'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 47.83% mean?
Covivio (GSEFF) has a ROC (Joel Greenblatt) % of 47.83% 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 Covivio and its competitors. This is 40% below median its historical median of 79.30. According to the industry distribution chart, Covivio ranks #367 out of 586 companies in the REITs industry, placing it in the top 62.6%.
Is Covivio's ROC (Joel Greenblatt) % too high?
Covivio's current ROC (Joel Greenblatt) % of 47.83% is 40% below median its 10-year median of 79.30. The REITs industry median ROC (Joel Greenblatt) % is 180.65. Covivio's value of 47.83% is 73.5% below this industry median. Based on the distribution chart, Covivio ranks #367 out of 586 companies in the REITs industry, which is below the industry midpoint. Overall, Covivio has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Covivio's ROC (Joel Greenblatt) % compare to VICI and WPC?
According to the REITs industry distribution chart, Covivio ranks #367 out of 586 companies for ROC (Joel Greenblatt) %. This places Covivio in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 180.65. Covivio's value of 47.83% is 73.5% below this benchmark. While the company's 10-year median is 79.30 vs. the industry median of 180.65, Covivio 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 180.65, based on 586 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. Covivio's current ROC (Joel Greenblatt) % of 47.83% is 73.5% 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 Covivio and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 180.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Covivio's current ROC (Joel Greenblatt) % is 47.83%, which is 40% below median its own 10-year median of 79.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Covivio stock overvalued right now?
Based on GuruFocus' analysis, Covivio (GSEFF) is currently considered Significantly Overvalued. The stock's GF Value™ is $46.00, compared to a current price of $63.01 — trading 37% above its estimated fair value. The current ROC (Joel Greenblatt) % is 47.83%, which is 40% below median its 10-year median of 79.30 and 73.5% below the REITs industry median of 180.65. Covivio's overall GF Score™ is 61/100 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 Covivio (GSEFF), the current ROC (Joel Greenblatt) % is 47.83% 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 Covivio (GSEFF) Overvalued in 2026?
Based on GuruFocus' analysis, Covivio stock appears to be overvalued.
The current stock price of $63.01 is trading 37% above its estimated GF Value™ of $46.00.
GuruFocus considers Covivio to be Significantly Overvalued.
Key valuation signals for GSEFF:
ROC (Joel Greenblatt) %: 47.83% (40% below median its 10-year median of 79.30)
GF Value™: $46.00 vs. price of $63.01 (37% above fair value)
Industry Position: 73.5% below the REITs median (#367 of 586)
No single metric tells the full story. See the GSEFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Covivio SA is a French real estate investment trust involved in the ownership of properties mainly in France, Italy, and Germany. The majority of the properties in the company's real estate portfolio are office buildings located in Paris and Milan. German residential properties also represent a significant percentage of its total assets. Fonciere des Regions derives nearly all of its revenue in the form of rental income from the ownership and maintenance of its portfolio of properties. French offices generate the majority revenue for the company, while Italian office buildings and German residential buildings in Berlin, Hamburg, and Dresden also contribute sizable income streams.
61GF Score
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