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Heriot REITJSE:HET 73 ROC (Joel Greenblatt) % is 1,402.98% as of Dec. 2025, which is 19% below its 10-year median of 1,726.47. GuruFocus rates JSE:HET with a GF Score™ of 73/100 and a GF Value™ of R23.86 (Fairly Valued). The stock has 13 warning signs investors should review. Among 577 REITs companies, Heriot REIT ranks better than 84.4% 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. Heriot REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 1,402.98%.
The historical rank and industry rank for Heriot REIT's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:HET'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 920.02 Med: 1726.47 Max: 3840.19
Current: 1941.01
During the past 8 years, Heriot REIT's highest ROC (Joel Greenblatt) % was 3840.19%. The lowest was 920.02%. And the median was 1726.47%.
JSE:HET's ROC (Joel Greenblatt) % is ranked better than 84.4% of 577
companies
in the REITs industry
Industry Median: 174.15
vs JSE:HET: 1941.01
Heriot REIT's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 15.60% 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.
Heriot REIT ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Heriot REIT'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:HET vs VICI, WPC: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, Heriot REIT'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.
Heriot REIT ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Heriot REIT's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Heriot REIT'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 1,402.98% mean?
Heriot REIT (JSE:HET) has a ROC (Joel Greenblatt) % of 1,402.98% 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 Heriot REIT and its competitors. This is 19% below median its historical median of 1,726.47. Over the past decade, Heriot REIT's ROC (Joel Greenblatt) % has ranged from 920.02 to 3,840.19. According to the industry distribution chart, Heriot REIT ranks #90 out of 577 companies in the REITs industry, placing it in the top 15.6%.
Is Heriot REIT's ROC (Joel Greenblatt) % too high?
Heriot REIT's current ROC (Joel Greenblatt) % of 1,402.98% is 19% below median its 10-year median of 1,726.47. Over the past 10 years, this metric has ranged from a low of 920.02 to a high of 3,840.19. The REITs industry median ROC (Joel Greenblatt) % is 174.15. Heriot REIT's value of 1,402.98% is 705.6% above this industry median. Based on the distribution chart, Heriot REIT ranks #90 out of 577 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Heriot REIT has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heriot REIT's ROC (Joel Greenblatt) % compare to VICI and WPC?
According to the REITs industry distribution chart, Heriot REIT ranks #90 out of 577 companies for ROC (Joel Greenblatt) %. This places Heriot REIT in the top 16% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 174.15. Heriot REIT's value of 1,402.98% is 705.6% above this benchmark. Historically, Heriot REIT's own ROC (Joel Greenblatt) % has ranged from 920.02 to 3,840.19 over the past decade. While the company's 10-year median is 1,726.47 vs. the industry median of 174.15, Heriot REIT 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 174.15, 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. Heriot REIT's current ROC (Joel Greenblatt) % of 1,402.98% is 705.6% 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 Heriot REIT and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 174.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heriot REIT's current ROC (Joel Greenblatt) % is 1,402.98%, which is 19% below median its own 10-year median of 1,726.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heriot REIT stock overvalued right now?
Based on GuruFocus' analysis, Heriot REIT (JSE:HET) is currently considered Fairly Valued. The stock's GF Value™ is R23.86, compared to a current price of R26.00 — trading 9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 1,402.98%, which is 19% below median its 10-year median of 1,726.47 and 705.6% above the REITs industry median of 174.15. Heriot REIT's overall GF Score™ is 73/100 with 13 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 Heriot REIT (JSE:HET), the current ROC (Joel Greenblatt) % is 1,402.98% 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 Heriot REIT (JSE:HET) Overvalued in 2026?
Based on GuruFocus' analysis, Heriot REIT stock appears to be overvalued.
The current stock price of R26.00 is trading 9% above its estimated GF Value™ of R23.86.
GuruFocus considers Heriot REIT to be Fairly Valued.
Key valuation signals for JSE:HET:
ROC (Joel Greenblatt) %: 1,402.98% (19% below median its 10-year median of 1,726.47)
GF Value™: R23.86 vs. price of R26.00 (9% above fair value)
Industry Position: 705.6% above the REITs median (#90 of 577)
No single metric tells the full story. See the JSE:HET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heriot REIT Ltd is a South African real estate investment trust. The company's primary segments include retail, industrial, office, specialized, residential, and others. While the majority of the revenue is earned from the Retail segment. The primary objective of the company is to develop or acquire yield-enhancing assets within Southern Africa to create a stable and diverse portfolio for the purposes of generating capital growth and securing escalating net rental income streams. Geographically, the company operates in Gauteng, Western Cape, KwaZulu-Natal, North West, Mpumalanga, Limpopo, Free State, and Namibia.
73GF Score
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