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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. Aeroporto Guglielmo Marconi di Bologna SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 129.36%.
MIL:ADB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -125.14 Med: 154.79 Max: 325.42
Current: 243.33
During the past 12 years, Aeroporto Guglielmo Marconi di Bologna SpA's highest ROC (Joel Greenblatt) % was 325.42%. The lowest was -125.14%. And the median was 154.79%.
MIL:ADB's ROC (Joel Greenblatt) % is ranked better than 98% of 998
companies
in the Transportation industry
Industry Median: 11.76
vs MIL:ADB: 243.33
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.
* 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.
MIL:ADB vs JOBY, CAAP: ROC (Joel Greenblatt) % Comparison
For the Airports & Air Services subindustry, Aeroporto Guglielmo Marconi di Bologna SpA'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.
Aeroporto Guglielmo Marconi di Bologna SpA ROC (Joel Greenblatt) % vs Transportation Industry
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 129.36% mean?
Aeroporto Guglielmo Marconi di Bologna SpA (MIL:ADB) has a ROC (Joel Greenblatt) % of 129.36% 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 Aeroporto Guglielmo Marconi di Bologna SpA and its competitors. This is 16% below median its historical median of 154.79. According to the industry distribution chart, Aeroporto Guglielmo Marconi di Bologna SpA ranks #20 out of 998 companies in the Transportation industry, placing it in the top 2%.
Is Aeroporto Guglielmo Marconi di Bologna SpA's ROC (Joel Greenblatt) % too high?
Aeroporto Guglielmo Marconi di Bologna SpA's current ROC (Joel Greenblatt) % of 129.36% is 16% below median its 10-year median of 154.79. The Transportation industry median ROC (Joel Greenblatt) % is 11.76. Aeroporto Guglielmo Marconi di Bologna SpA's value of 129.36% is 1000% above this industry median. Based on the distribution chart, Aeroporto Guglielmo Marconi di Bologna SpA ranks #20 out of 998 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Aeroporto Guglielmo Marconi di Bologna SpA has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aeroporto Guglielmo Marconi di Bologna SpA's ROC (Joel Greenblatt) % compare to JOBY and CAAP?
According to the Transportation industry distribution chart, Aeroporto Guglielmo Marconi di Bologna SpA ranks #20 out of 998 companies for ROC (Joel Greenblatt) %. This places Aeroporto Guglielmo Marconi di Bologna SpA in the top 2% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.76. Aeroporto Guglielmo Marconi di Bologna SpA's value of 129.36% is 1000% above this benchmark. While the company's 10-year median is 154.79 vs. the industry median of 11.76, Aeroporto Guglielmo Marconi di Bologna SpA 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 Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.76, based on 998 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. Aeroporto Guglielmo Marconi di Bologna SpA's current ROC (Joel Greenblatt) % of 129.36% is 1000% 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 Aeroporto Guglielmo Marconi di Bologna SpA and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aeroporto Guglielmo Marconi di Bologna SpA's current ROC (Joel Greenblatt) % is 129.36%, which is 16% below median its own 10-year median of 154.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aeroporto Guglielmo Marconi di Bologna SpA stock overvalued right now?
Based on GuruFocus' analysis, Aeroporto Guglielmo Marconi di Bologna SpA (MIL:ADB) is currently considered Fairly Valued. The stock's GF Value™ is €9.67, compared to a current price of €10.25 — trading 6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 129.36%, which is 16% below median its 10-year median of 154.79 and 1000% above the Transportation industry median of 11.76. Aeroporto Guglielmo Marconi di Bologna SpA's overall GF Score™ is 73/100 with 4 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 Aeroporto Guglielmo Marconi di Bologna SpA (MIL:ADB), the current ROC (Joel Greenblatt) % is 129.36% 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 Aeroporto Guglielmo Marconi di Bologna SpA (MIL:ADB) Overvalued in 2026?
Based on GuruFocus' analysis, Aeroporto Guglielmo Marconi di Bologna SpA stock appears to be overvalued.
The current stock price of €10.25 is trading 6% above its estimated GF Value™ of €9.67.
GuruFocus considers Aeroporto Guglielmo Marconi di Bologna SpA to be Fairly Valued.
Key valuation signals for MIL:ADB:
ROC (Joel Greenblatt) %: 129.36% (16% below median its 10-year median of 154.79)
GF Value™: €9.67 vs. price of €10.25 (6% above fair value)
Industry Position: 1000% above the Transportation median (#20 of 998)
No single metric tells the full story. See the MIL:ADB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aeroporto Guglielmo Marconi di Bologna SpA Business Description
Aeroporto Guglielmo Marconi di Bologna SpA is engaged in the airport operations. It operates with three business units Aviation, Non-Aviation, and Other. Aviation unit is responsible for providing security services, information to the public and airport users, development of the airport infrastructure and service to passengers whereas Non-Aviation unit is concern about parking management, retail sub-concessions, advertising, passenger services and real estate management areas. The group generates revenue through Carriers, Airport Operators, Passenger Revenue, Traffic Incentives and Construction Services.
73GF Score
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