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Deneb InvestmentsJSE:DNB +3.60%83 ROC (Joel Greenblatt) % is 23.45% as of Mar. 2026, which is 50% above its 10-year median of 15.65. GuruFocus rates JSE:DNB with a GF Score™ of 83/100 and a GF Value™ of R2.74 (Fairly Valued). The stock has 5 warning signs investors should review. Among 562 Conglomerates companies, Deneb Investments ranks better than 59.43% 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. Deneb Investments's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.45%.
The historical rank and industry rank for Deneb Investments's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:DNB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8 Med: 15.65 Max: 21.65
Current: 20.58
During the past 13 years, Deneb Investments's highest ROC (Joel Greenblatt) % was 21.65%. The lowest was 8.00%. And the median was 15.65%.
JSE:DNB's ROC (Joel Greenblatt) % is ranked better than 59.43% of 562
companies
in the Conglomerates industry
Industry Median: 14.68
vs JSE:DNB: 20.58
Deneb Investments's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.30% 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.
Deneb Investments ROC (Joel Greenblatt) % Related Terms
Deneb Investments ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Deneb Investments'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:DNB vs MMM, HON: ROC (Joel Greenblatt) % Comparison
For the Conglomerates subindustry, Deneb Investments'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.
Deneb Investments ROC (Joel Greenblatt) % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Deneb Investments's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Deneb Investments'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 23.45% mean?
Deneb Investments (JSE:DNB) has a ROC (Joel Greenblatt) % of 23.45% 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 Deneb Investments and its competitors. This is 50% above median its historical median of 15.65. Over the past decade, Deneb Investments' ROC (Joel Greenblatt) % has ranged from 8.00 to 21.65. According to the industry distribution chart, Deneb Investments ranks #228 out of 562 companies in the Conglomerates industry, placing it in the top 40.6%.
Is Deneb Investments' ROC (Joel Greenblatt) % too high?
Deneb Investments' current ROC (Joel Greenblatt) % of 23.45% is 50% above median its 10-year median of 15.65. Over the past 10 years, this metric has ranged from a low of 8.00 to a high of 21.65. The Conglomerates industry median ROC (Joel Greenblatt) % is 14.68. Deneb Investments' value of 23.45% is 59.7% above this industry median. Based on the distribution chart, Deneb Investments ranks #228 out of 562 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Deneb Investments has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Deneb Investments' ROC (Joel Greenblatt) % compare to MMM and HON?
According to the Conglomerates industry distribution chart, Deneb Investments ranks #228 out of 562 companies for ROC (Joel Greenblatt) %. This puts Deneb Investments in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 14.68. Deneb Investments' value of 23.45% is 59.7% above this benchmark. Historically, Deneb Investments' own ROC (Joel Greenblatt) % has ranged from 8.00 to 21.65 over the past decade. While the company's 10-year median is 15.65 vs. the industry median of 14.68, Deneb Investments 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 Conglomerates company?
The median ROC (Joel Greenblatt) % among Conglomerates companies is 14.68, based on 562 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. Deneb Investments's current ROC (Joel Greenblatt) % of 23.45% is 59.7% 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 Deneb Investments and its competitors. For the Conglomerates industry, the median ROC (Joel Greenblatt) % is 14.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Deneb Investments's current ROC (Joel Greenblatt) % is 23.45%, which is 50% above median its own 10-year median of 15.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Deneb Investments stock overvalued right now?
Based on GuruFocus' analysis, Deneb Investments (JSE:DNB) is currently considered Fairly Valued. The stock's GF Value™ is R2.74, compared to a current price of R2.59 — trading 5.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 23.45%, which is 50% above median its 10-year median of 15.65 and 59.7% above the Conglomerates industry median of 14.68. Deneb Investments' overall GF Score™ is 83/100 with 5 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 Deneb Investments (JSE:DNB), the current ROC (Joel Greenblatt) % is 23.45% 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 Deneb Investments (JSE:DNB) Overvalued in 2026?
Based on GuruFocus' analysis, Deneb Investments stock appears to be undervalued.
The current stock price of R2.59 is trading 5.5% below its estimated GF Value™ of R2.74.
GuruFocus considers Deneb Investments to be Fairly Valued.
Key valuation signals for JSE:DNB:
ROC (Joel Greenblatt) %: 23.45% (50% above median its 10-year median of 15.65)
GF Value™: R2.74 vs. price of R2.59 (5.5% below fair value)
Industry Position: 59.7% above the Conglomerates median (#228 of 562)
No single metric tells the full story. See the JSE:DNB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Deneb Investments Ltd is a diversified investment company operating in southern Africa. The company's operating segment includes Properties; Industrial Product Manufacturing; Automotive Parts Manufacturing; and Branded Product Distribution. Industrial Product Manufacturing and Branded Product Distribution segments together contribute to the majority of the revenue. Its geographical segments include South Africa, Other African countries, Asia, Europe, North America, and South America, of which the majority of the revenue is generated from South Africa.
83GF Score
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