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Emira Property FundJSE:EMI -0.15%60 ROC (Joel Greenblatt) % is 99.39% as of Mar. 2026, which is 40% below its 10-year median of 164.70. GuruFocus rates JSE:EMI with a GF Score™ of 60/100 and a GF Value™ of R8.62 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 577 REITs companies, Emira Property Fund ranks worse than 51.3% 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. Emira Property Fund's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 99.39%.
The historical rank and industry rank for Emira Property Fund's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:EMI'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1376.83 Med: 164.7 Max: 2007.01
Current: 157.65
During the past 13 years, Emira Property Fund's highest ROC (Joel Greenblatt) % was 2007.01%. The lowest was -1376.83%. And the median was 164.70%.
JSE:EMI's ROC (Joel Greenblatt) % is ranked worse than 51.3% of 577
companies
in the REITs industry
Industry Median: 174.25
vs JSE:EMI: 157.65
Emira Property Fund's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Emira Property Fund (JSE:EMI) ROC (Joel Greenblatt) % Explanation
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.
Emira Property Fund ROC (Joel Greenblatt) % Related Terms
Emira Property Fund ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Emira Property Fund'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:EMI vs VICI, WPC: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, Emira Property Fund'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.
Emira Property Fund ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Emira Property Fund's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Emira Property Fund's ROC (Joel Greenblatt) % falls into.
Emira Property Fund ROC (Joel Greenblatt) % Calculation
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 99.39% mean?
Emira Property Fund (JSE:EMI) has a ROC (Joel Greenblatt) % of 99.39% 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 Emira Property Fund and its competitors. This is 40% below median its historical median of 164.70. According to the industry distribution chart, Emira Property Fund ranks #296 out of 577 companies in the REITs industry, placing it in the top 51.3%.
Is Emira Property Fund's ROC (Joel Greenblatt) % too high?
Emira Property Fund's current ROC (Joel Greenblatt) % of 99.39% is 40% below median its 10-year median of 164.70. The REITs industry median ROC (Joel Greenblatt) % is 174.25. Emira Property Fund's value of 99.39% is 43% below this industry median. Based on the distribution chart, Emira Property Fund ranks #296 out of 577 companies in the REITs industry, which is below the industry midpoint. Overall, Emira Property Fund has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Emira Property Fund's ROC (Joel Greenblatt) % compare to VICI and WPC?
According to the REITs industry distribution chart, Emira Property Fund ranks #296 out of 577 companies for ROC (Joel Greenblatt) %. This places Emira Property Fund in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 174.25. Emira Property Fund's value of 99.39% is 43% below this benchmark. While the company's 10-year median is 164.70 vs. the industry median of 174.25, Emira Property Fund 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 174.25, based on 577 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. Emira Property Fund's current ROC (Joel Greenblatt) % of 99.39% is 43% 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 Emira Property Fund and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 174.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emira Property Fund's current ROC (Joel Greenblatt) % is 99.39%, which is 40% below median its own 10-year median of 164.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emira Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Emira Property Fund (JSE:EMI) is currently considered Significantly Overvalued. The stock's GF Value™ is R8.62, compared to a current price of R13.13 — trading 52.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 99.39%, which is 40% below median its 10-year median of 164.70 and 43% below the REITs industry median of 174.25. Emira Property Fund's overall GF Score™ is 60/100 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 Emira Property Fund (JSE:EMI), the current ROC (Joel Greenblatt) % is 99.39% 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 Emira Property Fund (JSE:EMI) Overvalued in 2026?
Based on GuruFocus' analysis, Emira Property Fund stock appears to be overvalued.
The current stock price of R13.13 is trading 52.3% above its estimated GF Value™ of R8.62.
GuruFocus considers Emira Property Fund to be Significantly Overvalued.
Key valuation signals for JSE:EMI:
ROC (Joel Greenblatt) %: 99.39% (40% below median its 10-year median of 164.70)
GF Value™: R8.62 vs. price of R13.13 (52.3% above fair value)
Industry Position: 43% below the REITs median (#296 of 577)
No single metric tells the full story. See the JSE:EMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Emira Property Fund Ltd is a South African real estate investment trust. The company's portfolio consists of office, retail, residential, and industrial properties. The majority of the properties are in Gauteng, with the others in the Western Cape and KwaZulu-Natal. The company operates through five segments, namely: Office; Retail; Industrial; Residential; and Corporate. The office segment comprises commercial properties. The retail segment includes shopping centers. The industrial segment consists of industrial properties. The residential segment comprises directly held residential property, and the corporate segment comprises the South African administration activities of the Group.
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