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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. GreenFirst Forest Products's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -61.53%.
The historical rank and industry rank for GreenFirst Forest Products's ROC (Joel Greenblatt) % or its related term are showing as below:
ICLTF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -82.24 Med: -14.29 Max: 2.33
Current: -82.24
During the past 13 years, GreenFirst Forest Products's highest ROC (Joel Greenblatt) % was 2.33%. The lowest was -82.24%. And the median was -14.29%.
ICLTF's ROC (Joel Greenblatt) % is ranked worse than 97.9% of 286
companies
in the Forest Products industry
Industry Median: 4.785
vs ICLTF: -82.24
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.
ICLTF vs SSD, UFPI, BCC: ROC (Joel Greenblatt) % Comparison
For the Lumber & Wood Production subindustry, GreenFirst Forest Products'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.
GreenFirst Forest Products ROC (Joel Greenblatt) % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, GreenFirst Forest Products's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where GreenFirst Forest Products'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 -61.53% mean?
GreenFirst Forest Products (ICLTF) has a ROC (Joel Greenblatt) % of -61.53% 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 GreenFirst Forest Products and its competitors. According to the industry distribution chart, GreenFirst Forest Products ranks #280 out of 286 companies in the Forest Products industry, placing it in the top 97.9%.
Is GreenFirst Forest Products' ROC (Joel Greenblatt) % too high?
GreenFirst Forest Products' current ROC (Joel Greenblatt) % is -61.53%. Based on the distribution chart, GreenFirst Forest Products ranks #280 out of 286 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, GreenFirst Forest Products has a GF Score™ of 50/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does GreenFirst Forest Products' ROC (Joel Greenblatt) % compare to SSD and UFPI?
According to the Forest Products industry distribution chart, GreenFirst Forest Products ranks #280 out of 286 companies for ROC (Joel Greenblatt) %. This places GreenFirst Forest Products in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 4.79. 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 Forest Products company?
The median ROC (Joel Greenblatt) % among Forest Products companies is 4.79, based on 286 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. 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 GreenFirst Forest Products and its competitors. For the Forest Products industry, the median ROC (Joel Greenblatt) % is 4.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GreenFirst Forest Products's current ROC (Joel Greenblatt) % is -61.53%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GreenFirst Forest Products stock overvalued right now?
Based on GuruFocus' analysis, GreenFirst Forest Products (ICLTF) is currently considered Modestly Undervalued. The stock's GF Value™ is $1.83, compared to a current price of $1.30 — trading 29% below its estimated fair value. The current ROC (Joel Greenblatt) % is -61.53%. GreenFirst Forest Products' overall GF Score™ is 50/100 with 7 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 GreenFirst Forest Products (ICLTF), the current ROC (Joel Greenblatt) % is -61.53% 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 GreenFirst Forest Products (ICLTF) Overvalued in 2026?
Based on GuruFocus' analysis, GreenFirst Forest Products stock appears to be undervalued.
The current stock price of $1.30 is trading 29% below its estimated GF Value™ of $1.83.
GuruFocus considers GreenFirst Forest Products to be Modestly Undervalued.
Key valuation signals for ICLTF:
ROC (Joel Greenblatt) %: -61.53%
GF Value™: $1.83 vs. price of $1.30 (29% below fair value)
No single metric tells the full story. See the ICLTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GreenFirst Forest Products Inc operates as a forest products business consisting of four operating sawmills located in Ontario. The company manufactures and markets a range of spruce-pine-fir (SPF) lumber products for use in residential and commercial construction, with by-products from production sold to pulp producers. It operates in a single operating segment, being lumber products. The group's geographic markets are Canada and the United States, with the majority of revenue derived from the United States. The company generates almost all of its revenue from the sale of Lumber products and a small portion of its revenue from the sale of Chips, by-products, and other.
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