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.
SMA Solar Technology AGMIL:1S +13.33%37 ROC (Joel Greenblatt) % is 18.24% as of Mar. 2026, which is 563% above its 10-year median of 2.75. GuruFocus rates MIL:1S with a GF Score™ of 37/100 and a GF Value™ of €32.04 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,028 Semiconductors companies, SMA Solar Technology AG ranks worse than 89.79% 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. SMA Solar Technology AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.24%.
The historical rank and industry rank for SMA Solar Technology AG's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:1S'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -62.26 Med: 2.75 Max: 66.61
Current: -56.1
During the past 13 years, SMA Solar Technology AG's highest ROC (Joel Greenblatt) % was 66.61%. The lowest was -62.26%. And the median was 2.75%.
MIL:1S's ROC (Joel Greenblatt) % is ranked worse than 89.79% of 1028
companies
in the Semiconductors industry
Industry Median: 8.265
vs MIL:1S: -56.10
SMA Solar Technology AG's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
SMA Solar Technology AG (MIL:1S) 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.
SMA Solar Technology AG ROC (Joel Greenblatt) % Related Terms
SMA Solar Technology AG ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for SMA Solar Technology AG'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.
SMA Solar Technology AG ROC (Joel Greenblatt) % Chart
MIL:1S vs FSLR, NXT, ENPH: ROC (Joel Greenblatt) % Comparison
For the Solar subindustry, SMA Solar Technology AG'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.
SMA Solar Technology AG ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, SMA Solar Technology AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where SMA Solar Technology AG's ROC (Joel Greenblatt) % falls into.
SMA Solar Technology AG 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 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 18.24% mean?
SMA Solar Technology AG (MIL:1S) has a ROC (Joel Greenblatt) % of 18.24% 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 SMA Solar Technology AG and its competitors. This is 563% above median its historical median of 2.75. According to the industry distribution chart, SMA Solar Technology AG ranks #923 out of 1028 companies in the Semiconductors industry, placing it in the top 89.8%.
Is SMA Solar Technology AG's ROC (Joel Greenblatt) % too high?
SMA Solar Technology AG's current ROC (Joel Greenblatt) % of 18.24% is 563% above median its 10-year median of 2.75. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.27. SMA Solar Technology AG's value of 18.24% is 120.7% above this industry median. Based on the distribution chart, SMA Solar Technology AG ranks #923 out of 1028 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, SMA Solar Technology AG has a GF Score™ of 37/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SMA Solar Technology AG's ROC (Joel Greenblatt) % compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, SMA Solar Technology AG ranks #923 out of 1028 companies for ROC (Joel Greenblatt) %. This places SMA Solar Technology AG in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.27. SMA Solar Technology AG's value of 18.24% is 120.7% above this benchmark. While the company's 10-year median is 2.75 vs. the industry median of 8.27, SMA Solar Technology AG 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 Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.27, based on 1,028 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. SMA Solar Technology AG's current ROC (Joel Greenblatt) % of 18.24% is 120.7% 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 SMA Solar Technology AG and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SMA Solar Technology AG's current ROC (Joel Greenblatt) % is 18.24%, which is 563% above median its own 10-year median of 2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SMA Solar Technology AG stock overvalued right now?
Based on GuruFocus' analysis, SMA Solar Technology AG (MIL:1S) is currently considered Significantly Overvalued. The stock's GF Value™ is €32.04, compared to a current price of €65.05 — trading 103% above its estimated fair value. The current ROC (Joel Greenblatt) % is 18.24%, which is 563% above median its 10-year median of 2.75 and 120.7% above the Semiconductors industry median of 8.27. SMA Solar Technology AG's overall GF Score™ is 37/100 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 SMA Solar Technology AG (MIL:1S), the current ROC (Joel Greenblatt) % is 18.24% 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 SMA Solar Technology AG (MIL:1S) Overvalued in 2026?
Based on GuruFocus' analysis, SMA Solar Technology AG stock appears to be overvalued.
The current stock price of €65.05 is trading 103% above its estimated GF Value™ of €32.04.
GuruFocus considers SMA Solar Technology AG to be Significantly Overvalued.
Key valuation signals for MIL:1S:
ROC (Joel Greenblatt) %: 18.24% (563% above median its 10-year median of 2.75)
GF Value™: €32.04 vs. price of €65.05 (103% above fair value)
Industry Position: 120.7% above the Semiconductors median (#923 of 1028)
No single metric tells the full story. See the MIL:1S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SMA Solar Technology AG produces, develops, and sells systems and solutions for the efficient and sustainable generation, storage, and use of solar energy. Its products include PV and battery inverters, monitoring systems for PV systems, charging solutions for electric vehicles, as well as energy management systems, and digital services for the future energy supply. The company operates through the following segments: Home & Business Solutions and Large Scale & Project Solutions. The Large Scale & Project Solutions segment, which derives key revenue for the company, offers products, systems, and solutions around the globe for solar, storage, and hydrogen projects on a power plant scale, as well as for the transition of power grids toward a higher share of renewable energy.
37GF Score
Get the complete analysis for MIL:1S
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
MIL:1S has been successfully added to your 
