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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. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.14%.
IST:PNLSN's ROC (Joel Greenblatt) % is ranked better than 53.76% of 1782
companies
in the Construction industry
Industry Median: 19.56
vs IST:PNLSN: 22.28
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.
IST:PNLSN vs TT, JCI, CARR: ROC (Joel Greenblatt) % Comparison
For the Building Products & Equipment subindustry, Panelsan Cati Cephe Sistemlerinayi VeTicaret 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.
Panelsan Cati Cephe Sistemlerinayi VeTicaret AS ROC (Joel Greenblatt) % vs Construction Industry
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 1.14% mean?
Panelsan Cati Cephe Sistemlerinayi VeTicaret AS (IST:PNLSN) has a ROC (Joel Greenblatt) % of 1.14% 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 Panelsan Cati Cephe Sistemlerinayi VeTicaret AS and its competitors. This is 96% below median its historical median of 30.27. Over the past decade, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's ROC (Joel Greenblatt) % has ranged from 7.22 to 117.86. According to the industry distribution chart, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS ranks #824 out of 1782 companies in the Construction industry, placing it in the top 46.2%.
Is Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's ROC (Joel Greenblatt) % too high?
Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's current ROC (Joel Greenblatt) % of 1.14% is 96% below median its 10-year median of 30.27. Over the past 10 years, this metric has ranged from a low of 7.22 to a high of 117.86. The Construction industry median ROC (Joel Greenblatt) % is 19.56. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's value of 1.14% is 94.2% below this industry median. Based on the distribution chart, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS ranks #824 out of 1782 companies in the Construction industry, which is above the industry midpoint. Overall, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's ROC (Joel Greenblatt) % compare to TT and JCI?
According to the Construction industry distribution chart, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS ranks #824 out of 1782 companies for ROC (Joel Greenblatt) %. This puts Panelsan Cati Cephe Sistemlerinayi VeTicaret AS in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.56. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's value of 1.14% is 94.2% below this benchmark. Historically, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's own ROC (Joel Greenblatt) % has ranged from 7.22 to 117.86 over the past decade. While the company's 10-year median is 30.27 vs. the industry median of 19.56, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS has consistently been below 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 19.56, based on 1,782 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. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's current ROC (Joel Greenblatt) % of 1.14% is 94.2% 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 Panelsan Cati Cephe Sistemlerinayi VeTicaret AS and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's current ROC (Joel Greenblatt) % is 1.14%, which is 96% below median its own 10-year median of 30.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Panelsan Cati Cephe Sistemlerinayi VeTicaret AS stock overvalued right now?
Based on GuruFocus' analysis, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS (IST:PNLSN) is currently considered Fairly Valued. The stock's GF Value™ is ₺47.41, compared to a current price of ₺46.90 — trading 1.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 1.14%, which is 96% below median its 10-year median of 30.27 and 94.2% below the Construction industry median of 19.56. Panelsan Cati Cephe Sistemlerinayi VeTicaret AS's overall GF Score™ is 86/100 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 Panelsan Cati Cephe Sistemlerinayi VeTicaret AS (IST:PNLSN), the current ROC (Joel Greenblatt) % is 1.14% 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 Panelsan Cati Cephe Sistemlerinayi VeTicaret AS (IST:PNLSN) Overvalued in 2026?
Based on GuruFocus' analysis, Panelsan Cati Cephe Sistemlerinayi VeTicaret AS stock appears to be undervalued.
The current stock price of ₺46.90 is trading 1.1% below its estimated GF Value™ of ₺47.41.
GuruFocus considers Panelsan Cati Cephe Sistemlerinayi VeTicaret AS to be Fairly Valued.
Key valuation signals for IST:PNLSN:
ROC (Joel Greenblatt) %: 1.14% (96% below median its 10-year median of 30.27)
GF Value™: ₺47.41 vs. price of ₺46.90 (1.1% below fair value)
Industry Position: 94.2% below the Construction median (#824 of 1782)
No single metric tells the full story. See the IST:PNLSN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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