Impax Asset Management GroupLSE:IPX -2.62%63 ROC (Joel Greenblatt) % is 140.26% as of Mar. 2026, which is 80% below its 10-year median of 686.58. GuruFocus rates LSE:IPX with a GF Score™ of 63/100 and a GF Value™ of £2.41 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 628 Asset Management companies, Impax Asset Management Group ranks better than 57.01% 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. Impax Asset Management Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 140.26%.
The historical rank and industry rank for Impax Asset Management Group's ROC (Joel Greenblatt) % or its related term are showing as below:
LSE:IPX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 134.79 Med: 686.58 Max: 2852.56
Current: 134.79
During the past 13 years, Impax Asset Management Group's highest ROC (Joel Greenblatt) % was 2852.56%. The lowest was 134.79%. And the median was 686.58%.
LSE:IPX's ROC (Joel Greenblatt) % is ranked better than 57.01% of 628
companies
in the Asset Management industry
Industry Median: 63.66
vs LSE:IPX: 134.79
Impax Asset Management Group (LSE:IPX) 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.
* 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.
Impax Asset Management Group ROC (Joel Greenblatt) % Chart
LSE:IPX vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, Impax Asset Management Group'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.
Impax Asset Management Group ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Impax Asset Management Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Impax Asset Management Group's ROC (Joel Greenblatt) % falls into.
Impax Asset Management Group 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 140.26% mean?
Impax Asset Management Group (LSE:IPX) has a ROC (Joel Greenblatt) % of 140.26% 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 Impax Asset Management Group and its competitors. This is 80% below median its historical median of 686.58. Over the past decade, Impax Asset Management Group's ROC (Joel Greenblatt) % has ranged from 134.79 to 2,852.56. According to the industry distribution chart, Impax Asset Management Group ranks #270 out of 628 companies in the Asset Management industry, placing it in the top 43%.
Is Impax Asset Management Group's ROC (Joel Greenblatt) % too high?
Impax Asset Management Group's current ROC (Joel Greenblatt) % of 140.26% is 80% below median its 10-year median of 686.58. Over the past 10 years, this metric has ranged from a low of 134.79 to a high of 2,852.56. The Asset Management industry median ROC (Joel Greenblatt) % is 63.66. Impax Asset Management Group's value of 140.26% is 120.3% above this industry median. Based on the distribution chart, Impax Asset Management Group ranks #270 out of 628 companies in the Asset Management industry, which is above the industry midpoint. Overall, Impax Asset Management Group has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Impax Asset Management Group's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Impax Asset Management Group ranks #270 out of 628 companies for ROC (Joel Greenblatt) %. This puts Impax Asset Management Group in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 63.66. Impax Asset Management Group's value of 140.26% is 120.3% above this benchmark. Historically, Impax Asset Management Group's own ROC (Joel Greenblatt) % has ranged from 134.79 to 2,852.56 over the past decade. While the company's 10-year median is 686.58 vs. the industry median of 63.66, Impax Asset Management Group 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 an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.66, based on 628 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. Impax Asset Management Group's current ROC (Joel Greenblatt) % of 140.26% is 120.3% 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 Impax Asset Management Group and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Impax Asset Management Group's current ROC (Joel Greenblatt) % is 140.26%, which is 80% below median its own 10-year median of 686.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Impax Asset Management Group stock overvalued right now?
Based on GuruFocus' analysis, Impax Asset Management Group (LSE:IPX) is currently considered Significantly Undervalued. The stock's GF Value™ is £2.41, compared to a current price of £0.97 — trading 60% below its estimated fair value. The current ROC (Joel Greenblatt) % is 140.26%, which is 80% below median its 10-year median of 686.58 and 120.3% above the Asset Management industry median of 63.66. Impax Asset Management Group's overall GF Score™ is 63/100 with 3 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 Impax Asset Management Group (LSE:IPX), the current ROC (Joel Greenblatt) % is 140.26% 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 Impax Asset Management Group (LSE:IPX) Overvalued in 2026?
Based on GuruFocus' analysis, Impax Asset Management Group stock appears to be undervalued.
The current stock price of £0.97 is trading 60% below its estimated GF Value™ of £2.41.
GuruFocus considers Impax Asset Management Group to be Significantly Undervalued.
Key valuation signals for LSE:IPX:
ROC (Joel Greenblatt) %: 140.26% (80% below median its 10-year median of 686.58)
GF Value™: £2.41 vs. price of £0.97 (60% below fair value)
Industry Position: 120.3% above the Asset Management median (#270 of 628)
No single metric tells the full story. See the LSE:IPX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Impax Asset Management Group PLC is an investment firm. It operates in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable economy. The Group is managed on an integrated basis and there is one reportable segment The company offers listed and private equity strategies to institutional clients, with assets under management and advice. Geographically, it derives a majority of revenue from North America and also has a presence in UK; France; Luxembourg; Netherlands; Ireland; Australia and other regions.
63GF Score
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