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.
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. Conagra Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 was -197.50%.
The historical rank and industry rank for Conagra Brands's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:CAG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -44.15 Med: 50.16 Max: 73.53
Current: -42.91
During the past 13 years, Conagra Brands's highest ROC (Joel Greenblatt) % was 73.53%. The lowest was -44.15%. And the median was 50.16%.
MEX:CAG's ROC (Joel Greenblatt) % is ranked worse than 93.24% of 1981
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs MEX:CAG: -42.91
Conagra Brands'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.
Conagra Brands ROC (Joel Greenblatt) % Related Terms
Conagra Brands ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Conagra Brands'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:CAG vs CPB, PPC, LW: ROC (Joel Greenblatt) % Comparison
For the Packaged Foods subindustry, Conagra Brands'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.
Conagra Brands ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Conagra Brands's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Conagra Brands'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 (May. 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 -197.50% mean?
Conagra Brands (MEX:CAG) has a ROC (Joel Greenblatt) % of -197.50% as of May. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Conagra Brands and its competitors. According to the industry distribution chart, Conagra Brands ranks #1847 out of 1981 companies in the Consumer Packaged Goods industry, placing it in the top 93.2%.
Is Conagra Brands' ROC (Joel Greenblatt) % too high?
Conagra Brands' current ROC (Joel Greenblatt) % is -197.50%. Based on the distribution chart, Conagra Brands ranks #1847 out of 1981 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Conagra Brands has a GF Score™ of 37/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Conagra Brands' ROC (Joel Greenblatt) % compare to CPB and PPC?
According to the Consumer Packaged Goods industry distribution chart, Conagra Brands ranks #1847 out of 1981 companies for ROC (Joel Greenblatt) %. This places Conagra Brands in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. 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 Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,981 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. 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 Conagra Brands and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Conagra Brands's current ROC (Joel Greenblatt) % is -197.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Conagra Brands stock overvalued right now?
Based on GuruFocus' analysis, Conagra Brands (MEX:CAG) is currently considered Possible Value Trap. The stock's GF Value™ is MXN436.44, compared to a current price of MXN253.50 — trading 41.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is -197.50%. Conagra Brands' overall GF Score™ is 37/100 with 6 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 Conagra Brands (MEX:CAG), the current ROC (Joel Greenblatt) % is -197.50% as of May. 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 Conagra Brands (MEX:CAG) Overvalued in 2026?
Based on GuruFocus' analysis, Conagra Brands stock appears to be undervalued.
The current stock price of MXN253.50 is trading 41.9% below its estimated GF Value™ of MXN436.44.
GuruFocus considers Conagra Brands to be Possible Value Trap.
Key valuation signals for MEX:CAG:
ROC (Joel Greenblatt) %: -197.50%
GF Value™: MXN436.44 vs. price of MXN253.50 (41.9% below fair value)
No single metric tells the full story. See the MEX:CAG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Conagra Brands is a packaged food company that operates predominantly in the United States (91% of fiscal 2025 revenue). Most of its revenue comes from frozen food, including brands like Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Conagra also sells snacks, shelf-stable staples, and refrigerated food through brands like Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, and Wish-Bone. The company primarily sells through the US retail channel, with just 9% of fiscal 2025 revenue coming from international markets and 9% from foodservice.
37GF Score
Get the complete analysis for MEX:CAG
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
MEX:CAG has been successfully added to your 
