Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Aspen Pharmacare HoldingsJSE:APN -2.36%72 ROC (Joel Greenblatt) % is 7.92% as of Dec. 2025, which is 68% below its 10-year median of 24.63. GuruFocus rates JSE:APN with a GF Score™ of 72/100 and a GF Value™ of R170.92 (Modestly Undervalued). The stock has 10 warning signs investors should review. Among 982 Drug Manufacturers companies, Aspen Pharmacare Holdings ranks worse than 67.31% 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. Aspen Pharmacare Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 7.92%.
The historical rank and industry rank for Aspen Pharmacare Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:APN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.38 Med: 24.63 Max: 42.88
Current: 1.38
During the past 13 years, Aspen Pharmacare Holdings's highest ROC (Joel Greenblatt) % was 42.88%. The lowest was 1.38%. And the median was 24.63%.
JSE:APN's ROC (Joel Greenblatt) % is ranked worse than 67.31% of 982
companies
in the Drug Manufacturers industry
Industry Median: 11.45
vs JSE:APN: 1.38
Aspen Pharmacare Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -23.30% 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.
Aspen Pharmacare Holdings ROC (Joel Greenblatt) % Related Terms
Aspen Pharmacare Holdings ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Aspen Pharmacare Holdings'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.
JSE:APN vs ZTS, UTHR, VTRS: ROC (Joel Greenblatt) % Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Aspen Pharmacare Holdings'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.
Aspen Pharmacare Holdings ROC (Joel Greenblatt) % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Aspen Pharmacare Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Aspen Pharmacare Holdings'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 two times the semi-annual (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 7.92% mean?
Aspen Pharmacare Holdings (JSE:APN) has a ROC (Joel Greenblatt) % of 7.92% 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 Aspen Pharmacare Holdings and its competitors. This is 68% below median its historical median of 24.63. Over the past decade, Aspen Pharmacare Holdings' ROC (Joel Greenblatt) % has ranged from 1.38 to 42.88. According to the industry distribution chart, Aspen Pharmacare Holdings ranks #661 out of 982 companies in the Drug Manufacturers industry, placing it in the top 67.3%.
Is Aspen Pharmacare Holdings' ROC (Joel Greenblatt) % too high?
Aspen Pharmacare Holdings' current ROC (Joel Greenblatt) % of 7.92% is 68% below median its 10-year median of 24.63. Over the past 10 years, this metric has ranged from a low of 1.38 to a high of 42.88. The Drug Manufacturers industry median ROC (Joel Greenblatt) % is 11.45. Aspen Pharmacare Holdings' value of 7.92% is 30.8% below this industry median. Based on the distribution chart, Aspen Pharmacare Holdings ranks #661 out of 982 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Aspen Pharmacare Holdings has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Aspen Pharmacare Holdings' ROC (Joel Greenblatt) % compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Aspen Pharmacare Holdings ranks #661 out of 982 companies for ROC (Joel Greenblatt) %. This places Aspen Pharmacare Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.45. Aspen Pharmacare Holdings' value of 7.92% is 30.8% below this benchmark. Historically, Aspen Pharmacare Holdings' own ROC (Joel Greenblatt) % has ranged from 1.38 to 42.88 over the past decade. While the company's 10-year median is 24.63 vs. the industry median of 11.45, Aspen Pharmacare Holdings 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 Drug Manufacturers company?
The median ROC (Joel Greenblatt) % among Drug Manufacturers companies is 11.45, based on 982 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. Aspen Pharmacare Holdings's current ROC (Joel Greenblatt) % of 7.92% is 30.8% 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 Aspen Pharmacare Holdings and its competitors. For the Drug Manufacturers industry, the median ROC (Joel Greenblatt) % is 11.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aspen Pharmacare Holdings's current ROC (Joel Greenblatt) % is 7.92%, which is 68% below median its own 10-year median of 24.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aspen Pharmacare Holdings stock overvalued right now?
Based on GuruFocus' analysis, Aspen Pharmacare Holdings (JSE:APN) is currently considered Modestly Undervalued. The stock's GF Value™ is R170.92, compared to a current price of R146.01 — trading 14.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 7.92%, which is 68% below median its 10-year median of 24.63 and 30.8% below the Drug Manufacturers industry median of 11.45. Aspen Pharmacare Holdings' overall GF Score™ is 72/100 with 10 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 Aspen Pharmacare Holdings (JSE:APN), the current ROC (Joel Greenblatt) % is 7.92% 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 Aspen Pharmacare Holdings (JSE:APN) Overvalued in 2026?
Based on GuruFocus' analysis, Aspen Pharmacare Holdings stock appears to be undervalued.
The current stock price of R146.01 is trading 14.6% below its estimated GF Value™ of R170.92.
GuruFocus considers Aspen Pharmacare Holdings to be Modestly Undervalued.
Key valuation signals for JSE:APN:
ROC (Joel Greenblatt) %: 7.92% (68% below median its 10-year median of 24.63)
GF Value™: R170.92 vs. price of R146.01 (14.6% below fair value)
Industry Position: 30.8% below the Drug Manufacturers median (#661 of 982)
No single metric tells the full story. See the JSE:APN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aspen Pharmacare Holdings Ltd is a multinational pharmaceutical company. The group focuses on marketing and manufacturing a broad range of post-patent, branded medicines and domestic brands covering both hospital and consumer markets. The business segments of the group are split between the Commercial Pharmaceuticals and Manufacturing segments. The Commercial Pharmaceuticals business segments are: Injectables, Over-the-counter, and Prescription. The Manufacturing business segments are: Active Pharmaceutical Ingredients, Finished Dose Form, and Heparin. Its geographic regions are Africa Middle East, Europe CIS, Australasia, Asia, and America.
72GF Score
Get the complete analysis for JSE:APN
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:APN has been successfully added to your 
