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Alerion CleanPower SPAMIL:ARN -2.09%68 ROC (Joel Greenblatt) % is 32.72% as of Dec. 2025, which is 110% above its 10-year median of 15.61. GuruFocus rates MIL:ARN with a GF Score™ of 68/100 and a GF Value™ of €12.74 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 436 Utilities - Independent Power Producers companies, Alerion CleanPower SPA ranks better than 82.11% 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. Alerion CleanPower SPA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 32.72%.
The historical rank and industry rank for Alerion CleanPower SPA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:ARN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.38 Med: 15.61 Max: 36.99
Current: 21.9
During the past 13 years, Alerion CleanPower SPA's highest ROC (Joel Greenblatt) % was 36.99%. The lowest was 7.38%. And the median was 15.61%.
MIL:ARN's ROC (Joel Greenblatt) % is ranked better than 82.11% of 436
companies
in the Utilities - Independent Power Producers industry
Industry Median: 6.525
vs MIL:ARN: 21.90
Alerion CleanPower SPA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 13.40% 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.
Alerion CleanPower SPA ROC (Joel Greenblatt) % Related Terms
Alerion CleanPower SPA ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Alerion CleanPower SPA'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.
For the Utilities - Renewable subindustry, Alerion CleanPower 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.
Alerion CleanPower SPA ROC (Joel Greenblatt) % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Alerion CleanPower SPA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Alerion CleanPower SPA'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 two times the semi-annual (Dec. 2025) 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 32.72% mean?
Alerion CleanPower SPA (MIL:ARN) has a ROC (Joel Greenblatt) % of 32.72% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Alerion CleanPower SPA and its competitors. This is 110% above median its historical median of 15.61. Over the past decade, Alerion CleanPower SPA's ROC (Joel Greenblatt) % has ranged from 7.38 to 36.99. According to the industry distribution chart, Alerion CleanPower SPA ranks #78 out of 436 companies in the Utilities - Independent Power Producers industry, placing it in the top 17.9%.
Is Alerion CleanPower SPA's ROC (Joel Greenblatt) % too high?
Alerion CleanPower SPA's current ROC (Joel Greenblatt) % of 32.72% is 110% above median its 10-year median of 15.61. Over the past 10 years, this metric has ranged from a low of 7.38 to a high of 36.99. The Utilities - Independent Power Producers industry median ROC (Joel Greenblatt) % is 6.53. Alerion CleanPower SPA's value of 32.72% is 401.5% above this industry median. Based on the distribution chart, Alerion CleanPower SPA ranks #78 out of 436 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Alerion CleanPower SPA has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Alerion CleanPower SPA's ROC (Joel Greenblatt) % compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Alerion CleanPower SPA ranks #78 out of 436 companies for ROC (Joel Greenblatt) %. This places Alerion CleanPower SPA in the top 18% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 6.53. Alerion CleanPower SPA's value of 32.72% is 401.5% above this benchmark. Historically, Alerion CleanPower SPA's own ROC (Joel Greenblatt) % has ranged from 7.38 to 36.99 over the past decade. While the company's 10-year median is 15.61 vs. the industry median of 6.53, Alerion CleanPower 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 an Utilities - Independent Power Producers company?
The median ROC (Joel Greenblatt) % among Utilities - Independent Power Producers companies is 6.53, based on 436 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. Alerion CleanPower SPA's current ROC (Joel Greenblatt) % of 32.72% is 401.5% 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 Alerion CleanPower SPA and its competitors. For the Utilities - Independent Power Producers industry, the median ROC (Joel Greenblatt) % is 6.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alerion CleanPower SPA's current ROC (Joel Greenblatt) % is 32.72%, which is 110% above median its own 10-year median of 15.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alerion CleanPower SPA stock overvalued right now?
Based on GuruFocus' analysis, Alerion CleanPower SPA (MIL:ARN) is currently considered Significantly Overvalued. The stock's GF Value™ is €12.74, compared to a current price of €21.05 — trading 65.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 32.72%, which is 110% above median its 10-year median of 15.61 and 401.5% above the Utilities - Independent Power Producers industry median of 6.53. Alerion CleanPower SPA's overall GF Score™ is 68/100 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 Alerion CleanPower SPA (MIL:ARN), the current ROC (Joel Greenblatt) % is 32.72% as of Dec. 2025. 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 Alerion CleanPower SPA (MIL:ARN) Overvalued in 2026?
Based on GuruFocus' analysis, Alerion CleanPower SPA stock appears to be overvalued.
The current stock price of €21.05 is trading 65.2% above its estimated GF Value™ of €12.74.
GuruFocus considers Alerion CleanPower SPA to be Significantly Overvalued.
Key valuation signals for MIL:ARN:
ROC (Joel Greenblatt) %: 32.72% (110% above median its 10-year median of 15.61)
GF Value™: €12.74 vs. price of €21.05 (65.2% above fair value)
Industry Position: 401.5% above the Utilities - Independent Power Producers median (#78 of 436)
No single metric tells the full story. See the MIL:ARN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Alerion CleanPower SPA operates in the renewable energy sector, managing wind and solar power plants across Italy, Romania, Spain, and Bulgaria. Its activities include the generation of electricity from renewable sources. The company focused on wind and solar power generation and energy storage.
68GF Score
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