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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. Intershop Communications AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 4.55%.
The historical rank and industry rank for Intershop Communications AG's ROC (Joel Greenblatt) % or its related term are showing as below:
HAM:ISHA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -911.66 Med: -27.24 Max: 69.6
Current: -23.24
During the past 13 years, Intershop Communications AG's highest ROC (Joel Greenblatt) % was 69.60%. The lowest was -911.66%. And the median was -27.24%.
HAM:ISHA's ROC (Joel Greenblatt) % is ranked worse than 71.7% of 2816
companies
in the Software industry
Industry Median: 20.03
vs HAM:ISHA: -23.24
Intershop Communications AG (HAM:ISHA) 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.
* 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.
Intershop Communications AG ROC (Joel Greenblatt) % Chart
HAM:ISHA vs UBER, SHOP, CRM: ROC (Joel Greenblatt) % Comparison
For the Software - Application subindustry, Intershop Communications AG'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.
Intershop Communications AG ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Intershop Communications AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Intershop Communications AG's ROC (Joel Greenblatt) % falls into.
Intershop Communications AG 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 (Jun. 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 4.55% mean?
Intershop Communications AG (HAM:ISHA) has a ROC (Joel Greenblatt) % of 4.55% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intershop Communications AG and its competitors. According to the industry distribution chart, Intershop Communications AG ranks #2019 out of 2816 companies in the Software industry, placing it in the top 71.7%.
Is Intershop Communications AG's ROC (Joel Greenblatt) % too high?
Intershop Communications AG's current ROC (Joel Greenblatt) % is 4.55%. The Software industry median ROC (Joel Greenblatt) % is 20.03. Intershop Communications AG's value of 4.55% is 77.3% below this industry median. Based on the distribution chart, Intershop Communications AG ranks #2019 out of 2816 companies in the Software industry, which is below the industry midpoint. Overall, Intershop Communications AG has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Intershop Communications AG's ROC (Joel Greenblatt) % compare to UBER and SHOP?
According to the Software industry distribution chart, Intershop Communications AG ranks #2019 out of 2816 companies for ROC (Joel Greenblatt) %. This places Intershop Communications AG in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 20.03. Intershop Communications AG's value of 4.55% is 77.3% below this benchmark. 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 20.03, based on 2,816 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. Intershop Communications AG's current ROC (Joel Greenblatt) % of 4.55% is 77.3% 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 Intershop Communications AG and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 20.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intershop Communications AG's current ROC (Joel Greenblatt) % is 4.55%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intershop Communications AG stock overvalued right now?
Based on GuruFocus' analysis, Intershop Communications AG (HAM:ISHA) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.11, compared to a current price of €1.78 — trading 60.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 4.55% and 77.3% below the Software industry median of 20.03. Intershop Communications AG's overall GF Score™ is 56/100 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 Intershop Communications AG (HAM:ISHA), the current ROC (Joel Greenblatt) % is 4.55% as of Jun. 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 Intershop Communications AG (HAM:ISHA) Overvalued in 2026?
Based on GuruFocus' analysis, Intershop Communications AG stock appears to be overvalued.
The current stock price of €1.78 is trading 60.4% above its estimated GF Value™ of €1.11.
GuruFocus considers Intershop Communications AG to be Significantly Overvalued.
Key valuation signals for HAM:ISHA:
ROC (Joel Greenblatt) %: 4.55%
GF Value™: €1.11 vs. price of €1.78 (60.4% above fair value)
Industry Position: 77.3% below the Software median (#2019 of 2816)
No single metric tells the full story. See the HAM:ISHA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Intershop Communications AG is an independent supplier of high-performance cloud e-commerce software. The company's Agentic B2B Commerce platform caters to manufacturing, wholesale, and network organization sectors. Intershop's solutions help its clients with digitizing and automating their sales and service processes, optimizing their online presence, creating a consistently positive customer experience, sustainably increasing online revenues, and reducing the costs of the e-commerce unit through AI-supported automation. The company's business activities are divided into two main business segments: Software and Cloud, which generate maximum revenue, and Service. Its geographical operating segments are: Europe, which derives maximum revenue, the USA, and the Asia-Pacific.
56GF Score
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