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Arsan Holding ASIST:ARSAN +9.88%51 ROC (Joel Greenblatt) % is 70.73% as of Mar. 2026, which is 158% above its 10-year median of 27.39. GuruFocus rates IST:ARSAN with a GF Score™ of 51/100 and a GF Value™ of ₺2.91 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,779 Construction companies, Arsan Holding AS ranks worse than 62.34% 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. Arsan Holding AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 70.73%.
The historical rank and industry rank for Arsan Holding AS's ROC (Joel Greenblatt) % or its related term are showing as below:
IST:ARSAN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6.1 Med: 27.39 Max: 91.73
Current: 11.68
During the past 13 years, Arsan Holding AS's highest ROC (Joel Greenblatt) % was 91.73%. The lowest was -6.10%. And the median was 27.39%.
IST:ARSAN's ROC (Joel Greenblatt) % is ranked worse than 62.34% of 1779
companies
in the Construction industry
Industry Median: 19.59
vs IST:ARSAN: 11.68
Arsan Holding AS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Arsan Holding AS (IST:ARSAN) 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.
Arsan Holding AS ROC (Joel Greenblatt) % Related Terms
Arsan Holding AS ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Arsan Holding AS'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.
IST:ARSAN vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Arsan Holding AS'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.
Arsan Holding AS ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Arsan Holding AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Arsan Holding AS's ROC (Joel Greenblatt) % falls into.
Arsan Holding AS 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 (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 70.73% mean?
Arsan Holding AS (IST:ARSAN) has a ROC (Joel Greenblatt) % of 70.73% 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 Arsan Holding AS and its competitors. This is 158% above median its historical median of 27.39. According to the industry distribution chart, Arsan Holding AS ranks #1109 out of 1779 companies in the Construction industry, placing it in the top 62.3%.
Is Arsan Holding AS's ROC (Joel Greenblatt) % too high?
Arsan Holding AS's current ROC (Joel Greenblatt) % of 70.73% is 158% above median its 10-year median of 27.39. The Construction industry median ROC (Joel Greenblatt) % is 19.59. Arsan Holding AS's value of 70.73% is 261.1% above this industry median. Based on the distribution chart, Arsan Holding AS ranks #1109 out of 1779 companies in the Construction industry, which is below the industry midpoint. Overall, Arsan Holding AS has a GF Score™ of 51/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Arsan Holding AS's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Arsan Holding AS ranks #1109 out of 1779 companies for ROC (Joel Greenblatt) %. This places Arsan Holding AS in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. Arsan Holding AS's value of 70.73% is 261.1% above this benchmark. While the company's 10-year median is 27.39 vs. the industry median of 19.59, Arsan Holding AS 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.59, based on 1,779 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. Arsan Holding AS's current ROC (Joel Greenblatt) % of 70.73% is 261.1% 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 Arsan Holding AS and its competitors. For the Construction 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. Arsan Holding AS's current ROC (Joel Greenblatt) % is 70.73%, which is 158% above median its own 10-year median of 27.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arsan Holding AS stock overvalued right now?
Based on GuruFocus' analysis, Arsan Holding AS (IST:ARSAN) is currently considered Modestly Overvalued. The stock's GF Value™ is ₺2.91, compared to a current price of ₺3.56 — trading 22.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 70.73%, which is 158% above median its 10-year median of 27.39 and 261.1% above the Construction industry median of 19.59. Arsan Holding AS's overall GF Score™ is 51/100 with 5 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 Arsan Holding AS (IST:ARSAN), the current ROC (Joel Greenblatt) % is 70.73% 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 Arsan Holding AS (IST:ARSAN) Overvalued in 2026?
Based on GuruFocus' analysis, Arsan Holding AS stock appears to be overvalued.
The current stock price of ₺3.56 is trading 22.3% above its estimated GF Value™ of ₺2.91.
GuruFocus considers Arsan Holding AS to be Modestly Overvalued.
Key valuation signals for IST:ARSAN:
ROC (Joel Greenblatt) %: 70.73% (158% above median its 10-year median of 27.39)
GF Value™: ₺2.91 vs. price of ₺3.56 (22.3% above fair value)
Industry Position: 261.1% above the Construction median (#1109 of 1779)
No single metric tells the full story. See the IST:ARSAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arsan Holding AS is a Turkey-based company involved in the Investment of infrastructure construction (water systems, dams, treatment plants), iron-steel production, energy generation (hydropower), natural gas distribution, and other industrial investments.
51GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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