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Birkenstock HoldingHAM:7PV +0.65%65 ROC (Joel Greenblatt) % is 47.15% as of Mar. 2026, which is 8% below its 10-year median of 51.24. GuruFocus rates HAM:7PV with a GF Score™ of 65/100 and a GF Value™ of €59.38 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,063 Manufacturing - Apparel & Accessories companies, Birkenstock Holding ranks better than 91.91% 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. Birkenstock Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 47.15%.
The historical rank and industry rank for Birkenstock Holding's ROC (Joel Greenblatt) % or its related term are showing as below:
HAM:7PV'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -12.65 Med: 51.24 Max: 58.62
Current: 45.8
During the past 6 years, Birkenstock Holding's highest ROC (Joel Greenblatt) % was 58.62%. The lowest was -12.65%. And the median was 51.24%.
HAM:7PV's ROC (Joel Greenblatt) % is ranked better than 91.91% of 1063
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 8.37
vs HAM:7PV: 45.80
Birkenstock Holding'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.
Birkenstock Holding ROC (Joel Greenblatt) % Related Terms
Birkenstock Holding ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Birkenstock Holding'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:7PV vs CROX, ONON, SHOO: ROC (Joel Greenblatt) % Comparison
For the Footwear & Accessories subindustry, Birkenstock Holding'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.
Birkenstock Holding ROC (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Birkenstock Holding's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Birkenstock Holding'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 47.15% mean?
Birkenstock Holding (HAM:7PV) has a ROC (Joel Greenblatt) % of 47.15% 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 Birkenstock Holding and its competitors. This is near median its historical median of 51.24. According to the industry distribution chart, Birkenstock Holding ranks #86 out of 1063 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 8.1%.
Is Birkenstock Holding's ROC (Joel Greenblatt) % too high?
Birkenstock Holding's current ROC (Joel Greenblatt) % of 47.15% is near median its 10-year median of 51.24. The Manufacturing - Apparel & Accessories industry median ROC (Joel Greenblatt) % is 8.37. Birkenstock Holding's value of 47.15% is 463.3% above this industry median. Based on the distribution chart, Birkenstock Holding ranks #86 out of 1063 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Birkenstock Holding has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Birkenstock Holding's ROC (Joel Greenblatt) % compare to CROX and ONON?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Birkenstock Holding ranks #86 out of 1063 companies for ROC (Joel Greenblatt) %. This places Birkenstock Holding in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.37. Birkenstock Holding's value of 47.15% is 463.3% above this benchmark. While the company's 10-year median is 51.24 vs. the industry median of 8.37, Birkenstock Holding 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 Manufacturing - Apparel & Accessories company?
The median ROC (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 8.37, based on 1,063 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. Birkenstock Holding's current ROC (Joel Greenblatt) % of 47.15% is 463.3% 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 Birkenstock Holding and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROC (Joel Greenblatt) % is 8.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Birkenstock Holding's current ROC (Joel Greenblatt) % is 47.15%, which is near median its own 10-year median of 51.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Birkenstock Holding stock overvalued right now?
Based on GuruFocus' analysis, Birkenstock Holding (HAM:7PV) is currently considered Significantly Undervalued. The stock's GF Value™ is €59.38, compared to a current price of €38.75 — trading 34.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 47.15%, which is near median its 10-year median of 51.24 and 463.3% above the Manufacturing - Apparel & Accessories industry median of 8.37. Birkenstock Holding's overall GF Score™ is 65/100 with 3 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 Birkenstock Holding (HAM:7PV), the current ROC (Joel Greenblatt) % is 47.15% 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 Birkenstock Holding (HAM:7PV) Overvalued in 2026?
Based on GuruFocus' analysis, Birkenstock Holding stock appears to be undervalued.
The current stock price of €38.75 is trading 34.7% below its estimated GF Value™ of €59.38.
GuruFocus considers Birkenstock Holding to be Significantly Undervalued.
Key valuation signals for HAM:7PV:
ROC (Joel Greenblatt) %: 47.15% (near median its 10-year median of 51.24)
GF Value™: €59.38 vs. price of €38.75 (34.7% below fair value)
Industry Position: 463.3% above the Manufacturing - Apparel & Accessories median (#86 of 1063)
No single metric tells the full story. See the HAM:7PV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Birkenstock is a German footwear brand known for comfort-focused, timeless designs, with 76% of 2022 sales coming from its top five iconic models. Products are made in Europe using sustainable, mostly locally sourced materials. The brand combines orthopedic function with everyday style, appealing to a broad audience. The Americas account for 52% of sales, EMEA 37%, with the remainder coming from Asia-Pacific, which has also the higher future growth expectations.
65GF Score
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