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.
SpurJSE:SUR -0.27%92 ROC (Joel Greenblatt) % is 269.05% as of Dec. 2025, which is 69% above its 10-year median of 159.10. GuruFocus rates JSE:SUR with a GF Score™ of 92/100 and a GF Value™ of R41.29 (Fairly Valued). The stock has 9 warning signs investors should review. Among 363 Restaurants companies, Spur ranks better than 97.8% 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. Spur's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 269.05%.
The historical rank and industry rank for Spur's ROC (Joel Greenblatt) % or its related term are showing as below:
JSE:SUR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 70.01 Med: 159.1 Max: 276.74
Current: 220.21
During the past 13 years, Spur's highest ROC (Joel Greenblatt) % was 276.74%. The lowest was 70.01%. And the median was 159.10%.
JSE:SUR's ROC (Joel Greenblatt) % is ranked better than 97.8% of 363
companies
in the Restaurants industry
Industry Median: 8.67
vs JSE:SUR: 220.21
Spur's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 29.20% 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.
The historical data trend for Spur'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:SUR vs MCD, SBUX, YUM: ROC (Joel Greenblatt) % Comparison
For the Restaurants subindustry, Spur'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.
Spur ROC (Joel Greenblatt) % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Spur's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Spur'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 269.05% mean?
Spur (JSE:SUR) has a ROC (Joel Greenblatt) % of 269.05% 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 Spur and its competitors. This is 69% above median its historical median of 159.10. Over the past decade, Spur's ROC (Joel Greenblatt) % has ranged from 70.01 to 276.74. According to the industry distribution chart, Spur ranks #8 out of 363 companies in the Restaurants industry, placing it in the top 2.2%.
Is Spur's ROC (Joel Greenblatt) % too high?
Spur's current ROC (Joel Greenblatt) % of 269.05% is 69% above median its 10-year median of 159.10. Over the past 10 years, this metric has ranged from a low of 70.01 to a high of 276.74. The Restaurants industry median ROC (Joel Greenblatt) % is 8.67. Spur's value of 269.05% is 3003.2% above this industry median. Based on the distribution chart, Spur ranks #8 out of 363 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers. Overall, Spur has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spur's ROC (Joel Greenblatt) % compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Spur ranks #8 out of 363 companies for ROC (Joel Greenblatt) %. This places Spur in the top 2% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.67. Spur's value of 269.05% is 3003.2% above this benchmark. Historically, Spur's own ROC (Joel Greenblatt) % has ranged from 70.01 to 276.74 over the past decade. While the company's 10-year median is 159.10 vs. the industry median of 8.67, Spur 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 Restaurants company?
The median ROC (Joel Greenblatt) % among Restaurants companies is 8.67, based on 363 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. Spur's current ROC (Joel Greenblatt) % of 269.05% is 3003.2% 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 Spur and its competitors. For the Restaurants industry, the median ROC (Joel Greenblatt) % is 8.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spur's current ROC (Joel Greenblatt) % is 269.05%, which is 69% above median its own 10-year median of 159.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spur stock overvalued right now?
Based on GuruFocus' analysis, Spur (JSE:SUR) is currently considered Fairly Valued. The stock's GF Value™ is R41.29, compared to a current price of R40.50 — trading 1.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 269.05%, which is 69% above median its 10-year median of 159.10 and 3003.2% above the Restaurants industry median of 8.67. Spur's overall GF Score™ is 92/100 with 9 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 Spur (JSE:SUR), the current ROC (Joel Greenblatt) % is 269.05% 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 Spur (JSE:SUR) Overvalued in 2026?
Based on GuruFocus' analysis, Spur stock appears to be undervalued.
The current stock price of R40.50 is trading 1.9% below its estimated GF Value™ of R41.29.
GuruFocus considers Spur to be Fairly Valued.
Key valuation signals for JSE:SUR:
ROC (Joel Greenblatt) %: 269.05% (69% above median its 10-year median of 159.10)
GF Value™: R41.29 vs. price of R40.50 (1.9% below fair value)
Industry Position: 3003.2% above the Restaurants median (#8 of 363)
No single metric tells the full story. See the JSE:SUR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spur Corp Ltd is a South African multi-brand restaurant franchisor. The group operates as franchisor for the Spur Steak Ranches, Panarottis Pizza Pasta, John Dory's Fish Grill Sushi, The Hussar Grill, RocoMamas (including RocoGo), Casa Bella, Nikos, Doppio Zero and Piza e Vino brands. The company's segment includes South Africa and International segment. South Africa segment include: Franchise, Manufacturing and distribution, Retail company stores, Marketing and Other. International segment include Australasia, Rest of Africa and Middle East and Marketing. Key revenue is generated from South Africa segment.
92GF Score
Get the complete analysis for JSE:SUR
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:SUR has been successfully added to your 
