Argent IndustrialJSE:ART -0.80%76 ROC (Joel Greenblatt) % is 35.45% as of Mar. 2026, which is 52% above its 10-year median of 23.32. GuruFocus rates JSE:ART with a GF Score™ of 76/100 and a GF Value™ of R29.94 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 632 Steel companies, Argent Industrial ranks better than 91.93% 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. Argent Industrial's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 35.45%.
The historical rank and industry rank for Argent Industrial's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:ART'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -17.8 Med: 23.32 Max: 35.71
Current: 34.74
During the past 13 years, Argent Industrial's highest ROC (Joel Greenblatt) % was 35.71%. The lowest was -17.80%. And the median was 23.32%.
JSE:ART's ROC (Joel Greenblatt) % is ranked better than 91.93% of 632
companies
in the Steel industry
Industry Median: 7.065
vs JSE:ART: 34.74
Argent Industrial's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.40% 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.
Argent Industrial ROC (Joel Greenblatt) % Related Terms
Argent Industrial ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Argent Industrial'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:ART vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Argent Industrial'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.
Argent Industrial ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Argent Industrial's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Argent Industrial'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 (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 35.45% mean?
Argent Industrial (JSE:ART) has a ROC (Joel Greenblatt) % of 35.45% 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 Argent Industrial and its competitors. This is 52% above median its historical median of 23.32. According to the industry distribution chart, Argent Industrial ranks #51 out of 632 companies in the Steel industry, placing it in the top 8.1%.
Is Argent Industrial's ROC (Joel Greenblatt) % too high?
Argent Industrial's current ROC (Joel Greenblatt) % of 35.45% is 52% above median its 10-year median of 23.32. The Steel industry median ROC (Joel Greenblatt) % is 7.07. Argent Industrial's value of 35.45% is 401.8% above this industry median. Based on the distribution chart, Argent Industrial ranks #51 out of 632 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Argent Industrial has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Argent Industrial's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Argent Industrial ranks #51 out of 632 companies for ROC (Joel Greenblatt) %. This places Argent Industrial in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 7.07. Argent Industrial's value of 35.45% is 401.8% above this benchmark. While the company's 10-year median is 23.32 vs. the industry median of 7.07, Argent Industrial 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.07, based on 632 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. Argent Industrial's current ROC (Joel Greenblatt) % of 35.45% is 401.8% 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 Argent Industrial and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Argent Industrial's current ROC (Joel Greenblatt) % is 35.45%, which is 52% above median its own 10-year median of 23.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Argent Industrial stock overvalued right now?
Based on GuruFocus' analysis, Argent Industrial (JSE:ART) is currently considered Modestly Overvalued. The stock's GF Value™ is R29.94, compared to a current price of R38.20 — trading 27.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 35.45%, which is 52% above median its 10-year median of 23.32 and 401.8% above the Steel industry median of 7.07. Argent Industrial's overall GF Score™ is 76/100 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 Argent Industrial (JSE:ART), the current ROC (Joel Greenblatt) % is 35.45% 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 Argent Industrial (JSE:ART) Overvalued in 2026?
Based on GuruFocus' analysis, Argent Industrial stock appears to be overvalued.
The current stock price of R38.20 is trading 27.6% above its estimated GF Value™ of R29.94.
GuruFocus considers Argent Industrial to be Modestly Overvalued.
Key valuation signals for JSE:ART:
ROC (Joel Greenblatt) %: 35.45% (52% above median its 10-year median of 23.32)
GF Value™: R29.94 vs. price of R38.20 (27.6% above fair value)
Industry Position: 401.8% above the Steel median (#51 of 632)
No single metric tells the full story. See the JSE:ART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Argent Industrial Ltd is a holding company that derives its income from the manufacturing and trading of steel and steel-related products, and properties. The company is organized into three operating divisions, namely Manufacturing, Steel trading, and Properties. The Manufacturing segment consists of manufacturing branded consumer goods. The steel trading segment makes up ferrous steel, aluminum, and stainless steel products. Steel products are also traded internally to the group's manufacturing businesses. The group charges rent for the properties. The company generates a majority of its revenue from manufacturing businesses. Geographically, it derives a majority of its revenue from South Africa and has a presence in the rest of the world.
76GF Score
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