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Intelligent WaveIWVTF 70 ROC (Joel Greenblatt) % is 187.33% as of Dec. 2025, which is 6% above its 10-year median of 176.86. GuruFocus rates IWVTF with a GF Score™ of 70/100 and a GF Value™ of $7.53 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,810 Software companies, Intelligent Wave ranks better than 77.01% 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. Intelligent Wave's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 187.33%.
The historical rank and industry rank for Intelligent Wave's ROC (Joel Greenblatt) % or its related term are showing as below:
IWVTF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 102.3 Med: 176.86 Max: 210.01
Current: 128.3
During the past 13 years, Intelligent Wave's highest ROC (Joel Greenblatt) % was 210.01%. The lowest was 102.30%. And the median was 176.86%.
IWVTF's ROC (Joel Greenblatt) % is ranked better than 77.01% of 2810
companies
in the Software industry
Industry Median: 19.94
vs IWVTF: 128.30
Intelligent Wave's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -5.70% per year.
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.
Intelligent Wave ROC (Joel Greenblatt) % Related Terms
Intelligent Wave ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Intelligent Wave'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.
IWVTF vs MSFT, ORCL, PLTR: ROC (Joel Greenblatt) % Comparison
For the Software - Infrastructure subindustry, Intelligent Wave'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.
Intelligent Wave ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Intelligent Wave's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Intelligent Wave'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 (Dec. 2025) 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 187.33% mean?
Intelligent Wave (IWVTF) has a ROC (Joel Greenblatt) % of 187.33% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intelligent Wave and its competitors. This is near median its historical median of 176.86. Over the past decade, Intelligent Wave's ROC (Joel Greenblatt) % has ranged from 102.30 to 210.01. According to the industry distribution chart, Intelligent Wave ranks #646 out of 2810 companies in the Software industry, placing it in the top 23%.
Is Intelligent Wave's ROC (Joel Greenblatt) % too high?
Intelligent Wave's current ROC (Joel Greenblatt) % of 187.33% is near median its 10-year median of 176.86. Over the past 10 years, this metric has ranged from a low of 102.30 to a high of 210.01. The Software industry median ROC (Joel Greenblatt) % is 19.94. Intelligent Wave's value of 187.33% is 839.5% above this industry median. Based on the distribution chart, Intelligent Wave ranks #646 out of 2810 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Intelligent Wave has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Intelligent Wave's ROC (Joel Greenblatt) % compare to MSFT and ORCL?
According to the Software industry distribution chart, Intelligent Wave ranks #646 out of 2810 companies for ROC (Joel Greenblatt) %. This places Intelligent Wave in the top 23% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.94. Intelligent Wave's value of 187.33% is 839.5% above this benchmark. Historically, Intelligent Wave's own ROC (Joel Greenblatt) % has ranged from 102.30 to 210.01 over the past decade. While the company's 10-year median is 176.86 vs. the industry median of 19.94, Intelligent Wave 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.94, based on 2,810 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. Intelligent Wave's current ROC (Joel Greenblatt) % of 187.33% is 839.5% 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 Intelligent Wave and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intelligent Wave's current ROC (Joel Greenblatt) % is 187.33%, which is near median its own 10-year median of 176.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intelligent Wave stock overvalued right now?
Based on GuruFocus' analysis, Intelligent Wave (IWVTF) is currently considered Modestly Undervalued. The stock's GF Value™ is $7.53, compared to a current price of $5.80 — trading 23% below its estimated fair value. The current ROC (Joel Greenblatt) % is 187.33%, which is near median its 10-year median of 176.86 and 839.5% above the Software industry median of 19.94. Intelligent Wave's overall GF Score™ is 70/100 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 Intelligent Wave (IWVTF), the current ROC (Joel Greenblatt) % is 187.33% as of Dec. 2025. 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 Intelligent Wave (IWVTF) Overvalued in 2026?
Based on GuruFocus' analysis, Intelligent Wave stock appears to be undervalued.
The current stock price of $5.80 is trading 23% below its estimated GF Value™ of $7.53.
GuruFocus considers Intelligent Wave to be Modestly Undervalued.
Key valuation signals for IWVTF:
ROC (Joel Greenblatt) %: 187.33% (near median its 10-year median of 176.86)
GF Value™: $7.53 vs. price of $5.80 (23% below fair value)
Industry Position: 839.5% above the Software median (#646 of 2810)
No single metric tells the full story. See the IWVTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Intelligent Wave Inc is engaged in sales of system development services and system products, including hardware and software. It operates in two business segments including the Financial Systems Solutions business, and the Product Solutions business. In the Financial Systems Solutions business, it offers value-added system development, through software and hardware integration, and maintenance services for customers operating primarily in the financial services industry. In the Product Solutions business, it deploys and maintains high value-added systems for data security and other solutions based on the in-house developed product as well as system software procured from third parties for customers operating in a range of industries and fields.
70GF Score
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