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Brown-FormanMEX:BFB 69 ROC (Joel Greenblatt) % is 9.66% as of Apr. 2026, which is 76% below its 10-year median of 39.66. GuruFocus rates MEX:BFB with a GF Score™ of 69/100 and a GF Value™ of MXN727.25. The stock has 1 warning sign investors should review. Among 211 Beverages - Alcoholic companies, Brown-Forman ranks better than 69.67% 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. Brown-Forman's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 9.66%.
The historical rank and industry rank for Brown-Forman's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:BFB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 24.41 Med: 39.66 Max: 44.57
Current: 24.41
During the past 13 years, Brown-Forman's highest ROC (Joel Greenblatt) % was 44.57%. The lowest was 24.41%. And the median was 39.66%.
MEX:BFB's ROC (Joel Greenblatt) % is ranked better than 69.67% of 211
companies
in the Beverages - Alcoholic industry
Industry Median: 11.88
vs MEX:BFB: 24.41
Brown-Forman's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -8.80% 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.
Brown-Forman ROC (Joel Greenblatt) % Related Terms
Brown-Forman ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Brown-Forman'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.
MEX:BFB vs MGPI, SNDL, AGCC: ROC (Joel Greenblatt) % Comparison
For the Beverages - Wineries & Distilleries subindustry, Brown-Forman'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.
Brown-Forman ROC (Joel Greenblatt) % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Brown-Forman's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Brown-Forman'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 (Apr. 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 9.66% mean?
Brown-Forman (MEX:BFB) has a ROC (Joel Greenblatt) % of 9.66% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Brown-Forman and its competitors. This is 76% below median its historical median of 39.66. Over the past decade, Brown-Forman's ROC (Joel Greenblatt) % has ranged from 24.41 to 44.57. According to the industry distribution chart, Brown-Forman ranks #64 out of 211 companies in the Beverages - Alcoholic industry, placing it in the top 30.3%.
Is Brown-Forman's ROC (Joel Greenblatt) % too high?
Brown-Forman's current ROC (Joel Greenblatt) % of 9.66% is 76% below median its 10-year median of 39.66. Over the past 10 years, this metric has ranged from a low of 24.41 to a high of 44.57. The Beverages - Alcoholic industry median ROC (Joel Greenblatt) % is 11.88. Brown-Forman's value of 9.66% is 18.7% below this industry median. Based on the distribution chart, Brown-Forman ranks #64 out of 211 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Brown-Forman has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Brown-Forman's ROC (Joel Greenblatt) % compare to MGPI and SNDL?
According to the Beverages - Alcoholic industry distribution chart, Brown-Forman ranks #64 out of 211 companies for ROC (Joel Greenblatt) %. This puts Brown-Forman in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.88. Brown-Forman's value of 9.66% is 18.7% below this benchmark. Historically, Brown-Forman's own ROC (Joel Greenblatt) % has ranged from 24.41 to 44.57 over the past decade. While the company's 10-year median is 39.66 vs. the industry median of 11.88, Brown-Forman has consistently been below 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 Beverages - Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Alcoholic companies is 11.88, based on 211 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. Brown-Forman's current ROC (Joel Greenblatt) % of 9.66% is 18.7% below 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 Brown-Forman and its competitors. For the Beverages - Alcoholic industry, the median ROC (Joel Greenblatt) % is 11.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Brown-Forman's current ROC (Joel Greenblatt) % is 9.66%, which is 76% below median its own 10-year median of 39.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Brown-Forman stock overvalued right now?
Brown-Forman (MEX:BFB) has a current ROC (Joel Greenblatt) % of 9.66%. The stock's GF Value™ is MXN727.25, compared to a current price of MXN455.44 — trading 37.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 9.66%, which is 76% below median its 10-year median of 39.66 and 18.7% below the Beverages - Alcoholic industry median of 11.88. Brown-Forman's overall GF Score™ is 69/100 with 1 warning sign 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 Brown-Forman (MEX:BFB), the current ROC (Joel Greenblatt) % is 9.66% as of Apr. 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 Brown-Forman (MEX:BFB) Overvalued in 2026?
Based on GuruFocus' analysis, Brown-Forman stock appears to be undervalued.
The current stock price of MXN455.44 is trading 37.4% below its estimated GF Value™ of MXN727.25.
Key valuation signals for MEX:BFB:
ROC (Joel Greenblatt) %: 9.66% (76% below median its 10-year median of 39.66)
GF Value™: MXN727.25 vs. price of MXN455.44 (37.4% below fair value)
Industry Position: 18.7% below the Beverages - Alcoholic median (#64 of 211)
No single metric tells the full story. See the MEX:BFB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Brown-Forman is a US-based manufacturer of premium distilled spirits. It generates over 70% of its revenue in the whiskey category, under well-known Tennessee whiskey brand Jack Daniel's and bourbon brands Woodford Reserve and Old Forester. It also manufactures and distributes tequila, vodka, rum, gin, and premium wines. The company generated 44% of fiscal 2025 sales from the US, while the bulk of international revenue comes from Europe, Australia, and Latin America. The Brown family controls over 50% of the economic interests and 67% of the voting power in the company.
69GF Score
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