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.
Northern BearLSE:NTBR -5.66%45 ROC (Joel Greenblatt) % is 27.13% as of Mar. 2026, which is 46% below its 10-year median of 49.79. GuruFocus rates LSE:NTBR with a GF Score™ of 45/100 and a GF Value™ of £0.92 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,787 Construction companies, Northern Bear ranks better than 82.15% 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. Northern Bear's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.13%.
The historical rank and industry rank for Northern Bear's ROC (Joel Greenblatt) % or its related term are showing as below:
LSE:NTBR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -32.21 Med: 49.79 Max: 109.42
Current: 66.69
During the past 13 years, Northern Bear's highest ROC (Joel Greenblatt) % was 109.42%. The lowest was -32.21%. And the median was 49.79%.
LSE:NTBR's ROC (Joel Greenblatt) % is ranked better than 82.15% of 1787
companies
in the Construction industry
Industry Median: 19.39
vs LSE:NTBR: 66.69
Northern Bear's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
Northern Bear ROC (Joel Greenblatt) % Related Terms
Northern Bear ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Northern Bear'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.
LSE:NTBR vs TT, JCI, CARR: ROC (Joel Greenblatt) % Comparison
For the Building Products & Equipment subindustry, Northern Bear'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.
Northern Bear ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Northern Bear's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Northern Bear'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 27.13% mean?
Northern Bear (LSE:NTBR) has a ROC (Joel Greenblatt) % of 27.13% 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 Northern Bear and its competitors. This is 46% below median its historical median of 49.79. According to the industry distribution chart, Northern Bear ranks #319 out of 1787 companies in the Construction industry, placing it in the top 17.9%.
Is Northern Bear's ROC (Joel Greenblatt) % too high?
Northern Bear's current ROC (Joel Greenblatt) % of 27.13% is 46% below median its 10-year median of 49.79. The Construction industry median ROC (Joel Greenblatt) % is 19.39. Northern Bear's value of 27.13% is 39.9% above this industry median. Based on the distribution chart, Northern Bear ranks #319 out of 1787 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Northern Bear has a GF Score™ of 45/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Northern Bear's ROC (Joel Greenblatt) % compare to TT and JCI?
According to the Construction industry distribution chart, Northern Bear ranks #319 out of 1787 companies for ROC (Joel Greenblatt) %. This places Northern Bear in the top 18% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.39. Northern Bear's value of 27.13% is 39.9% above this benchmark. While the company's 10-year median is 49.79 vs. the industry median of 19.39, Northern Bear 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.39, based on 1,787 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. Northern Bear's current ROC (Joel Greenblatt) % of 27.13% is 39.9% 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 Northern Bear and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Bear's current ROC (Joel Greenblatt) % is 27.13%, which is 46% below median its own 10-year median of 49.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Bear stock overvalued right now?
Based on GuruFocus' analysis, Northern Bear (LSE:NTBR) is currently considered Modestly Overvalued. The stock's GF Value™ is £0.92, compared to a current price of £1.18 — trading 27.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 27.13%, which is 46% below median its 10-year median of 49.79 and 39.9% above the Construction industry median of 19.39. Northern Bear's overall GF Score™ is 45/100 with 2 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 Northern Bear (LSE:NTBR), the current ROC (Joel Greenblatt) % is 27.13% 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 Northern Bear (LSE:NTBR) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Bear stock appears to be overvalued.
The current stock price of £1.18 is trading 27.7% above its estimated GF Value™ of £0.92.
GuruFocus considers Northern Bear to be Modestly Overvalued.
Key valuation signals for LSE:NTBR:
ROC (Joel Greenblatt) %: 27.13% (46% below median its 10-year median of 49.79)
GF Value™: £0.92 vs. price of £1.18 (27.7% above fair value)
Industry Position: 39.9% above the Construction median (#319 of 1787)
No single metric tells the full story. See the LSE:NTBR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Bear PLC is a specialist building service provider serving the support services sector. Its operating segments include Roofing activities - companies providing a comprehensive range of roofing services including slang, felting, refurbishment, and maintenance for domestic, commercial, and public sector properties; Materials handling activities - supply, service, and maintenance of forklift trucks and warehouse equipment on hire and for sale; Specialist building services activities - aggregation of other specialist building services companies providing services including building maintenance, electrical contracting, and sound insulation and Corporate and other activities - the provision of head office activity and consolidation items. It generates revenues mainly from the UK.
45GF Score
Get the complete analysis for LSE:NTBR
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
LSE:NTBR has been successfully added to your 
