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.
MedlineMDLN +2.02%16 ROC (Joel Greenblatt) % is 16.23% as of Mar. 2026, which is 15% below its 10-year median of 19.12. GuruFocus rates MDLN with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 840 Medical Devices & Instruments companies, Medline ranks better than 67.26% 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. Medline's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.23%.
The historical rank and industry rank for Medline's ROC (Joel Greenblatt) % or its related term are showing as below:
MDLN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.72 Med: 19.12 Max: 20.97
Current: 17.83
During the past 4 years, Medline's highest ROC (Joel Greenblatt) % was 20.97%. The lowest was 12.72%. And the median was 19.12%.
MDLN's ROC (Joel Greenblatt) % is ranked better than 67.26% of 840
companies
in the Medical Devices & Instruments industry
Industry Median: 4.145
vs MDLN: 17.83
Medline'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.
The historical data trend for Medline'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.
MDLN vs RMD, WST, BDX: ROC (Joel Greenblatt) % Comparison
For the Medical Instruments & Supplies subindustry, Medline'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.
Medline ROC (Joel Greenblatt) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medline's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Medline'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 four times the quarterly (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 16.23% mean?
Medline (MDLN) has a ROC (Joel Greenblatt) % of 16.23% 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 Medline and its competitors. This is 15% below median its historical median of 19.12. Over the past decade, Medline's ROC (Joel Greenblatt) % has ranged from 12.72 to 20.97. According to the industry distribution chart, Medline ranks #275 out of 840 companies in the Medical Devices & Instruments industry, placing it in the top 32.7%.
Is Medline's ROC (Joel Greenblatt) % too high?
Medline's current ROC (Joel Greenblatt) % of 16.23% is 15% below median its 10-year median of 19.12. Over the past 10 years, this metric has ranged from a low of 12.72 to a high of 20.97. The Medical Devices & Instruments industry median ROC (Joel Greenblatt) % is 4.15. Medline's value of 16.23% is 291.6% above this industry median. Based on the distribution chart, Medline ranks #275 out of 840 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Medline has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Medline's ROC (Joel Greenblatt) % compare to RMD and WST?
According to the Medical Devices & Instruments industry distribution chart, Medline ranks #275 out of 840 companies for ROC (Joel Greenblatt) %. This puts Medline in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 4.15. Medline's value of 16.23% is 291.6% above this benchmark. Historically, Medline's own ROC (Joel Greenblatt) % has ranged from 12.72 to 20.97 over the past decade. While the company's 10-year median is 19.12 vs. the industry median of 4.15, Medline 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 Medical Devices & Instruments company?
The median ROC (Joel Greenblatt) % among Medical Devices & Instruments companies is 4.15, based on 840 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. Medline's current ROC (Joel Greenblatt) % of 16.23% is 291.6% 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 Medline and its competitors. For the Medical Devices & Instruments industry, the median ROC (Joel Greenblatt) % is 4.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medline's current ROC (Joel Greenblatt) % is 16.23%, which is 15% below median its own 10-year median of 19.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medline stock overvalued right now?
Medline (MDLN) has a current ROC (Joel Greenblatt) % of 16.23%. The current ROC (Joel Greenblatt) % is 16.23%, which is 15% below median its 10-year median of 19.12 and 291.6% above the Medical Devices & Instruments industry median of 4.15. Medline's overall GF Score™ is 16/100 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 Medline (MDLN), the current ROC (Joel Greenblatt) % is 16.23% 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.
Medline is the largest provider of medical-surgical products and supply chain solutions in the US. The company generates over 90% of its revenue domestically and serves some of the largest US health systems. Medline offers approximately 190,000 Medline-branded products across more than 250 product families—including front-line care, surgical solutions, and laboratory and diagnostics—as well as roughly 150,000 third-party products sourced from over 1,250 vendors. The company maintains prime vendor relationships with many customers, acting as the primary consolidated logistics partner for their medical-surgical needs. Medline has significant scale, supported by more than 30 manufacturing facilities and a fleet of over 2,000 owned delivery trucks. Medline went public in December 2025.
16GF Score
Get the complete analysis for MDLN
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
MDLN has been successfully added to your 
