Esi SpAMIL:ESIGM +5.83%78 ROC (Joel Greenblatt) % is 2.76% as of Dec. 2025, which is 91% below its 10-year median of 30.18. GuruFocus rates MIL:ESIGM with a GF Score™ of 78/100 and a GF Value™ of €2.15 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,779 Construction companies, Esi SpA ranks worse than 53.57% 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. Esi SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 2.76%.
The historical rank and industry rank for Esi SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:ESIGM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -128.2 Med: 30.18 Max: 1308.51
Current: 16.7
During the past 7 years, Esi SpA's highest ROC (Joel Greenblatt) % was 1308.51%. The lowest was -128.20%. And the median was 30.18%.
MIL:ESIGM's ROC (Joel Greenblatt) % is ranked worse than 53.57% of 1779
companies
in the Construction industry
Industry Median: 19.59
vs MIL:ESIGM: 16.70
Esi SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Esi SpA (MIL:ESIGM) 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.
The historical data trend for Esi 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.
MIL:ESIGM vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Esi 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.
Esi SpA ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Esi SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Esi 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 2.76% mean?
Esi SpA (MIL:ESIGM) has a ROC (Joel Greenblatt) % of 2.76% 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 Esi SpA and its competitors. This is 91% below median its historical median of 30.18. According to the industry distribution chart, Esi SpA ranks #953 out of 1779 companies in the Construction industry, placing it in the top 53.6%.
Is Esi SpA's ROC (Joel Greenblatt) % too high?
Esi SpA's current ROC (Joel Greenblatt) % of 2.76% is 91% below median its 10-year median of 30.18. The Construction industry median ROC (Joel Greenblatt) % is 19.59. Esi SpA's value of 2.76% is 85.9% below this industry median. Based on the distribution chart, Esi SpA ranks #953 out of 1779 companies in the Construction industry, which is below the industry midpoint. Overall, Esi SpA has a GF Score™ of 78/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Esi SpA's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Esi SpA ranks #953 out of 1779 companies for ROC (Joel Greenblatt) %. This places Esi SpA in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. Esi SpA's value of 2.76% is 85.9% below this benchmark. While the company's 10-year median is 30.18 vs. the industry median of 19.59, Esi SpA has consistently been below 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.59, based on 1,779 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. Esi SpA's current ROC (Joel Greenblatt) % of 2.76% is 85.9% below 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 Esi SpA and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Esi SpA's current ROC (Joel Greenblatt) % is 2.76%, which is 91% below median its own 10-year median of 30.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Esi SpA stock overvalued right now?
Based on GuruFocus' analysis, Esi SpA (MIL:ESIGM) is currently considered Possible Value Trap. The stock's GF Value™ is €2.15, compared to a current price of €1.27 — trading 40.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 2.76%, which is 91% below median its 10-year median of 30.18 and 85.9% below the Construction industry median of 19.59. Esi SpA's overall GF Score™ is 78/100 with 5 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 Esi SpA (MIL:ESIGM), the current ROC (Joel Greenblatt) % is 2.76% 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 Esi SpA (MIL:ESIGM) Overvalued in 2026?
Based on GuruFocus' analysis, Esi SpA stock appears to be undervalued.
The current stock price of €1.27 is trading 40.9% below its estimated GF Value™ of €2.15.
GuruFocus considers Esi SpA to be Possible Value Trap.
Key valuation signals for MIL:ESIGM:
ROC (Joel Greenblatt) %: 2.76% (91% below median its 10-year median of 30.18)
GF Value™: €2.15 vs. price of €1.27 (40.9% below fair value)
Industry Position: 85.9% below the Construction median (#953 of 1779)
No single metric tells the full story. See the MIL:ESIGM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Esi SpA operates in the renewable energy market as an EPC contractor and a System Integrator. The company covers all phases within the renewable energy value chain, from project development to engineering and construction. As an EPC contractor, it is involved in designing and constructing turnkey photovoltaic systems, civil works, excavations, roads, wind farm foundations, and high-voltage underground cable ducts. It also builds control cabins and foundations for high-voltage plants, provides maintenance of photovoltaic power plants, and performs other related activities. As a System Integrator, the company constructs mini-grid and off-grid systems for electricity supply in remote areas and designs storage systems for electrical energy production.
78GF Score
Get the complete analysis for MIL:ESIGM
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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