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. Hedef Girisim Sermayesi Yati Ortakligi AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -443.55%.
IST:HDFGS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2072.25 Med: 558.11 Max: 7838.8
Current: 464.73
During the past 12 years, Hedef Girisim Sermayesi Yati Ortakligi AS's highest ROC (Joel Greenblatt) % was 7838.80%. The lowest was -2072.25%. And the median was 558.11%.
IST:HDFGS's ROC (Joel Greenblatt) % is ranked better than 74.56% of 625
companies
in the Asset Management industry
Industry Median: 63.35
vs IST:HDFGS: 464.73
Hedef Girisim Sermayesi Yati Ortakligi AS (IST:HDFGS) 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.
Hedef Girisim Sermayesi Yati Ortakligi AS ROC (Joel Greenblatt) % Chart
Hedef Girisim Sermayesi Yati Ortakligi AS Annual Data
IST:HDFGS vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, Hedef Girisim Sermayesi Yati Ortakligi 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.
Hedef Girisim Sermayesi Yati Ortakligi AS ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hedef Girisim Sermayesi Yati Ortakligi AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hedef Girisim Sermayesi Yati Ortakligi AS's ROC (Joel Greenblatt) % falls into.
Hedef Girisim Sermayesi Yati Ortakligi 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 -443.55% mean?
Hedef Girisim Sermayesi Yati Ortakligi AS (IST:HDFGS) has a ROC (Joel Greenblatt) % of -443.55% 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 Hedef Girisim Sermayesi Yati Ortakligi AS and its competitors. According to the industry distribution chart, Hedef Girisim Sermayesi Yati Ortakligi AS ranks #159 out of 625 companies in the Asset Management industry, placing it in the top 25.4%.
Is Hedef Girisim Sermayesi Yati Ortakligi AS's ROC (Joel Greenblatt) % too high?
Hedef Girisim Sermayesi Yati Ortakligi AS's current ROC (Joel Greenblatt) % is -443.55%. Based on the distribution chart, Hedef Girisim Sermayesi Yati Ortakligi AS ranks #159 out of 625 companies in the Asset Management industry, which is above the industry midpoint. Overall, Hedef Girisim Sermayesi Yati Ortakligi AS has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hedef Girisim Sermayesi Yati Ortakligi AS's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Hedef Girisim Sermayesi Yati Ortakligi AS ranks #159 out of 625 companies for ROC (Joel Greenblatt) %. This puts Hedef Girisim Sermayesi Yati Ortakligi AS in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 63.35. 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 an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.35, based on 625 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 Hedef Girisim Sermayesi Yati Ortakligi AS and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hedef Girisim Sermayesi Yati Ortakligi AS's current ROC (Joel Greenblatt) % is -443.55%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hedef Girisim Sermayesi Yati Ortakligi AS stock overvalued right now?
Based on GuruFocus' analysis, Hedef Girisim Sermayesi Yati Ortakligi AS (IST:HDFGS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₺1.76, compared to a current price of ₺2.41 — trading 36.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is -443.55%. Hedef Girisim Sermayesi Yati Ortakligi AS's overall GF Score™ is 75/100 with 4 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 Hedef Girisim Sermayesi Yati Ortakligi AS (IST:HDFGS), the current ROC (Joel Greenblatt) % is -443.55% 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 Hedef Girisim Sermayesi Yati Ortakligi AS (IST:HDFGS) Overvalued in 2026?
Based on GuruFocus' analysis, Hedef Girisim Sermayesi Yati Ortakligi AS stock appears to be overvalued.
The current stock price of ₺2.41 is trading 36.9% above its estimated GF Value™ of ₺1.76.
GuruFocus considers Hedef Girisim Sermayesi Yati Ortakligi AS to be Significantly Overvalued.
Key valuation signals for IST:HDFGS:
ROC (Joel Greenblatt) %: -443.55%
GF Value™: ₺1.76 vs. price of ₺2.41 (36.9% above fair value)
No single metric tells the full story. See the IST:HDFGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hedef Girisim Sermayesi Yati Ortakligi AS Business Description
Hedef Girisim Sermayesi Yati Ortakligi AS makes direct and indirect investments across multiple sectors, with a primary focus on finance and technology. Its investment activities span areas including fintech, software, gaming, real estate, agriculture and food, marketing, media and publishing, education, logistics, healthcare products, materials such as polycarbonate and polymers, renewable energy, consulting, blockchain, cryptocurrency, and SaaS. The company holds investments in more than 15 portfolio companies across these sectors.
75GF Score
Get the complete analysis for IST:HDFGS
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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