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Industrie De Nora SpAMIL:DNR -1.38%79 ROC (Joel Greenblatt) % is 19.02% as of Mar. 2026, which is 27% below its 10-year median of 26.09. GuruFocus rates MIL:DNR with a GF Score™ of 79/100 and a GF Value™ of €9.10 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 3,064 Industrial Products companies, Industrie De Nora SpA ranks better than 70.33% 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. Industrie De Nora SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 19.02%.
The historical rank and industry rank for Industrie De Nora SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:DNR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 17.32 Med: 26.09 Max: 53.29
Current: 22.69
During the past 7 years, Industrie De Nora SpA's highest ROC (Joel Greenblatt) % was 53.29%. The lowest was 17.32%. And the median was 26.09%.
MIL:DNR's ROC (Joel Greenblatt) % is ranked better than 70.33% of 3064
companies
in the Industrial Products industry
Industry Median: 11.725
vs MIL:DNR: 22.69
Industrie De Nora SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 4.20% per year.
Industrie De Nora SpA (MIL:DNR) 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.
Industrie De Nora SpA ROC (Joel Greenblatt) % Related Terms
Industrie De Nora SpA ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Industrie De Nora 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.
Industrie De Nora SpA ROC (Joel Greenblatt) % Chart
MIL:DNR vs VRT, BE, HUBB: ROC (Joel Greenblatt) % Comparison
For the Electrical Equipment & Parts subindustry, Industrie De Nora 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.
Industrie De Nora SpA ROC (Joel Greenblatt) % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Industrie De Nora SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Industrie De Nora SpA's ROC (Joel Greenblatt) % falls into.
Industrie De Nora SpA 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 19.02% mean?
Industrie De Nora SpA (MIL:DNR) has a ROC (Joel Greenblatt) % of 19.02% 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 Industrie De Nora SpA and its competitors. This is 27% below median its historical median of 26.09. Over the past decade, Industrie De Nora SpA's ROC (Joel Greenblatt) % has ranged from 17.32 to 53.29. According to the industry distribution chart, Industrie De Nora SpA ranks #909 out of 3064 companies in the Industrial Products industry, placing it in the top 29.7%.
Is Industrie De Nora SpA's ROC (Joel Greenblatt) % too high?
Industrie De Nora SpA's current ROC (Joel Greenblatt) % of 19.02% is 27% below median its 10-year median of 26.09. Over the past 10 years, this metric has ranged from a low of 17.32 to a high of 53.29. The Industrial Products industry median ROC (Joel Greenblatt) % is 11.73. Industrie De Nora SpA's value of 19.02% is 62.2% above this industry median. Based on the distribution chart, Industrie De Nora SpA ranks #909 out of 3064 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Industrie De Nora SpA has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Industrie De Nora SpA's ROC (Joel Greenblatt) % compare to VRT and BE?
According to the Industrial Products industry distribution chart, Industrie De Nora SpA ranks #909 out of 3064 companies for ROC (Joel Greenblatt) %. This puts Industrie De Nora SpA in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.73. Industrie De Nora SpA's value of 19.02% is 62.2% above this benchmark. Historically, Industrie De Nora SpA's own ROC (Joel Greenblatt) % has ranged from 17.32 to 53.29 over the past decade. While the company's 10-year median is 26.09 vs. the industry median of 11.73, Industrie De Nora 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 Industrial Products company?
The median ROC (Joel Greenblatt) % among Industrial Products companies is 11.73, based on 3,064 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. Industrie De Nora SpA's current ROC (Joel Greenblatt) % of 19.02% is 62.2% 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 Industrie De Nora SpA and its competitors. For the Industrial Products industry, the median ROC (Joel Greenblatt) % is 11.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Industrie De Nora SpA's current ROC (Joel Greenblatt) % is 19.02%, which is 27% below median its own 10-year median of 26.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Industrie De Nora SpA stock overvalued right now?
Based on GuruFocus' analysis, Industrie De Nora SpA (MIL:DNR) is currently considered Significantly Undervalued. The stock's GF Value™ is €9.10, compared to a current price of €6.10 — trading 33% below its estimated fair value. The current ROC (Joel Greenblatt) % is 19.02%, which is 27% below median its 10-year median of 26.09 and 62.2% above the Industrial Products industry median of 11.73. Industrie De Nora SpA's overall GF Score™ is 79/100 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 Industrie De Nora SpA (MIL:DNR), the current ROC (Joel Greenblatt) % is 19.02% 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 Industrie De Nora SpA (MIL:DNR) Overvalued in 2026?
Based on GuruFocus' analysis, Industrie De Nora SpA stock appears to be undervalued.
The current stock price of €6.10 is trading 33% below its estimated GF Value™ of €9.10.
GuruFocus considers Industrie De Nora SpA to be Significantly Undervalued.
Key valuation signals for MIL:DNR:
ROC (Joel Greenblatt) %: 19.02% (27% below median its 10-year median of 26.09)
GF Value™: €9.10 vs. price of €6.10 (33% below fair value)
Industry Position: 62.2% above the Industrial Products median (#909 of 3064)
No single metric tells the full story. See the MIL:DNR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Industrie De Nora SpA manufactures and distributes chemicals. The company is organized into three segments: the Electrode Technologies business, Energy Transition and the Water Technologies business. Electrode Technologies segment earns the majority of companies revenues. The company's products include Analyzers & Detectors, Anodes for Chlorine Evolution, Anodes for oxygen evolution, Cathodes for Hydrogen Evolution, Disinfection systems, Electrochlorination systems, Filtration Solutions, Membrane Technologies, Contaminant removal systems.
79GF Score
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