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VNET GroupHAM:217A -1.61%57 ROC (Joel Greenblatt) % is 3.71% as of Mar. 2026, which is 336% above its 10-year median of 0.85. GuruFocus rates HAM:217A with a GF Score™ of 57/100 and a GF Value™ of €3.73. The stock has 8 warning signs investors should review. Among 2,819 Software companies, VNET Group ranks worse than 58.03% 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. VNET Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.71%.
The historical rank and industry rank for VNET Group's ROC (Joel Greenblatt) % or its related term are showing as below:
HAM:217A'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -28.14 Med: 0.85 Max: 9.03
Current: 5.1
During the past 13 years, VNET Group's highest ROC (Joel Greenblatt) % was 9.03%. The lowest was -28.14%. And the median was 0.85%.
HAM:217A's ROC (Joel Greenblatt) % is ranked worse than 58.03% of 2819
companies
in the Software industry
Industry Median: 19.59
vs HAM:217A: 5.10
VNET Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
VNET Group (HAM:217A) 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.
VNET Group ROC (Joel Greenblatt) % Historical Data
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The historical data trend for VNET Group'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.
HAM:217A vs INOD, SHAZ, DXC: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, VNET Group'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.
VNET Group ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, VNET Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where VNET Group'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 3.71% mean?
VNET Group (HAM:217A) has a ROC (Joel Greenblatt) % of 3.71% 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 VNET Group and its competitors. This is 336% above median its historical median of 0.85. According to the industry distribution chart, VNET Group ranks #1636 out of 2819 companies in the Software industry, placing it in the top 58%.
Is VNET Group's ROC (Joel Greenblatt) % too high?
VNET Group's current ROC (Joel Greenblatt) % of 3.71% is 336% above median its 10-year median of 0.85. The Software industry median ROC (Joel Greenblatt) % is 19.59. VNET Group's value of 3.71% is 81.1% below this industry median. Based on the distribution chart, VNET Group ranks #1636 out of 2819 companies in the Software industry, which is below the industry midpoint. Overall, VNET Group has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does VNET Group's ROC (Joel Greenblatt) % compare to INOD and SHAZ?
According to the Software industry distribution chart, VNET Group ranks #1636 out of 2819 companies for ROC (Joel Greenblatt) %. This places VNET Group in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. VNET Group's value of 3.71% is 81.1% below this benchmark. While the company's 10-year median is 0.85 vs. the industry median of 19.59, VNET Group 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.59, based on 2,819 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. VNET Group's current ROC (Joel Greenblatt) % of 3.71% is 81.1% 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 VNET Group and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNET Group's current ROC (Joel Greenblatt) % is 3.71%, which is 336% above median its own 10-year median of 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VNET Group stock overvalued right now?
VNET Group (HAM:217A) has a current ROC (Joel Greenblatt) % of 3.71%. The stock's GF Value™ is €3.73, compared to a current price of €6.12 — trading 64.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 3.71%, which is 336% above median its 10-year median of 0.85 and 81.1% below the Software industry median of 19.59. VNET Group's overall GF Score™ is 57/100 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 VNET Group (HAM:217A), the current ROC (Joel Greenblatt) % is 3.71% 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 VNET Group (HAM:217A) Overvalued in 2026?
Based on GuruFocus' analysis, VNET Group stock appears to be overvalued.
The current stock price of €6.12 is trading 64.1% above its estimated GF Value™ of €3.73.
Key valuation signals for HAM:217A:
ROC (Joel Greenblatt) %: 3.71% (336% above median its 10-year median of 0.85)
GF Value™: €3.73 vs. price of €6.12 (64.1% above fair value)
Industry Position: 81.1% below the Software median (#1636 of 2819)
No single metric tells the full story. See the HAM:217A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VNET started as AsiaCloud in 1999 and moved into the data center business, opening its first self-developed data center in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of December 2025, it had 49,863 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 889 MW of wholesale capacity in service, with a further 452 MW under construction and a further 840 MW held for future development.
57GF Score
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