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NATURELGAZNAYI VE TICARET ASIST:NTGAZ -2.41%81 ROC (Joel Greenblatt) % is 58.79% as of Mar. 2026, which is 149% above its 10-year median of 23.65. GuruFocus rates IST:NTGAZ with a GF Score™ of 81/100 and a GF Value™ of ₺8.32 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,000 Oil & Gas companies, NATURELGAZNAYI VE TICARET AS ranks better than 88.7% 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. NATURELGAZNAYI VE TICARET AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 58.79%.
The historical rank and industry rank for NATURELGAZNAYI VE TICARET AS's ROC (Joel Greenblatt) % or its related term are showing as below:
IST:NTGAZ'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -11.93 Med: 23.65 Max: 85.34
Current: 35.08
During the past 8 years, NATURELGAZNAYI VE TICARET AS's highest ROC (Joel Greenblatt) % was 85.34%. The lowest was -11.93%. And the median was 23.65%.
IST:NTGAZ's ROC (Joel Greenblatt) % is ranked better than 88.7% of 1000
companies
in the Oil & Gas industry
Industry Median: 8.43
vs IST:NTGAZ: 35.08
NATURELGAZNAYI VE TICARET AS (IST:NTGAZ) 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.
NATURELGAZNAYI VE TICARET AS ROC (Joel Greenblatt) % Chart
IST:NTGAZ vs WMB, EPD, KMI: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Midstream subindustry, NATURELGAZNAYI VE TICARET 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.
NATURELGAZNAYI VE TICARET AS ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NATURELGAZNAYI VE TICARET AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where NATURELGAZNAYI VE TICARET AS's ROC (Joel Greenblatt) % falls into.
NATURELGAZNAYI VE TICARET 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 58.79% mean?
NATURELGAZNAYI VE TICARET AS (IST:NTGAZ) has a ROC (Joel Greenblatt) % of 58.79% 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 NATURELGAZNAYI VE TICARET AS and its competitors. This is 149% above median its historical median of 23.65. According to the industry distribution chart, NATURELGAZNAYI VE TICARET AS ranks #113 out of 1000 companies in the Oil & Gas industry, placing it in the top 11.3%.
Is NATURELGAZNAYI VE TICARET AS's ROC (Joel Greenblatt) % too high?
NATURELGAZNAYI VE TICARET AS's current ROC (Joel Greenblatt) % of 58.79% is 149% above median its 10-year median of 23.65. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.43. NATURELGAZNAYI VE TICARET AS's value of 58.79% is 597.4% above this industry median. Based on the distribution chart, NATURELGAZNAYI VE TICARET AS ranks #113 out of 1000 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, NATURELGAZNAYI VE TICARET AS has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NATURELGAZNAYI VE TICARET AS's ROC (Joel Greenblatt) % compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, NATURELGAZNAYI VE TICARET AS ranks #113 out of 1000 companies for ROC (Joel Greenblatt) %. This places NATURELGAZNAYI VE TICARET AS in the top 11% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.43. NATURELGAZNAYI VE TICARET AS's value of 58.79% is 597.4% above this benchmark. While the company's 10-year median is 23.65 vs. the industry median of 8.43, NATURELGAZNAYI VE TICARET 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 an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.43, based on 1,000 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. NATURELGAZNAYI VE TICARET AS's current ROC (Joel Greenblatt) % of 58.79% is 597.4% 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 NATURELGAZNAYI VE TICARET AS and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NATURELGAZNAYI VE TICARET AS's current ROC (Joel Greenblatt) % is 58.79%, which is 149% above median its own 10-year median of 23.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NATURELGAZNAYI VE TICARET AS stock overvalued right now?
Based on GuruFocus' analysis, NATURELGAZNAYI VE TICARET AS (IST:NTGAZ) is currently considered Significantly Overvalued. The stock's GF Value™ is ₺8.32, compared to a current price of ₺11.33 — trading 36.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 58.79%, which is 149% above median its 10-year median of 23.65 and 597.4% above the Oil & Gas industry median of 8.43. NATURELGAZNAYI VE TICARET AS's overall GF Score™ is 81/100 with 2 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 NATURELGAZNAYI VE TICARET AS (IST:NTGAZ), the current ROC (Joel Greenblatt) % is 58.79% 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 NATURELGAZNAYI VE TICARET AS (IST:NTGAZ) Overvalued in 2026?
Based on GuruFocus' analysis, NATURELGAZNAYI VE TICARET AS stock appears to be overvalued.
The current stock price of ₺11.33 is trading 36.2% above its estimated GF Value™ of ₺8.32.
GuruFocus considers NATURELGAZNAYI VE TICARET AS to be Significantly Overvalued.
Key valuation signals for IST:NTGAZ:
ROC (Joel Greenblatt) %: 58.79% (149% above median its 10-year median of 23.65)
GF Value™: ₺8.32 vs. price of ₺11.33 (36.2% above fair value)
Industry Position: 597.4% above the Oil & Gas median (#113 of 1000)
No single metric tells the full story. See the IST:NTGAZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NATURELGAZ SANAYI VE TICARET AS activities of transmitting natural gas via CNG transport units to consumers who need natural gas but do not have access to pipelines, such as industrial establishments, factories, asphalt construction sites, hotels, and institutions requiring heating.
81GF Score
Get the complete analysis for IST:NTGAZ
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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