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Reply SpAMIL:REY -0.42%78 ROC (Joel Greenblatt) % is 110.28% as of Mar. 2026, which is 6% above its 10-year median of 103.88. GuruFocus rates MIL:REY with a GF Score™ of 78/100 and a GF Value™ of €146.73 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,811 Software companies, Reply SpA ranks better than 76.81% 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. Reply SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 110.28%.
The historical rank and industry rank for Reply SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:REY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 65.16 Med: 103.88 Max: 133.68
Current: 126.24
During the past 13 years, Reply SpA's highest ROC (Joel Greenblatt) % was 133.68%. The lowest was 65.16%. And the median was 103.88%.
MIL:REY's ROC (Joel Greenblatt) % is ranked better than 76.81% of 2811
companies
in the Software industry
Industry Median: 19.63
vs MIL:REY: 126.24
Reply SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.50% 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.
The historical data trend for Reply 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:REY vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Reply 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.
Reply SpA ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Reply SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Reply 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 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 110.28% mean?
Reply SpA (MIL:REY) has a ROC (Joel Greenblatt) % of 110.28% 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 Reply SpA and its competitors. This is near median its historical median of 103.88. Over the past decade, Reply SpA's ROC (Joel Greenblatt) % has ranged from 65.16 to 133.68. According to the industry distribution chart, Reply SpA ranks #652 out of 2811 companies in the Software industry, placing it in the top 23.2%.
Is Reply SpA's ROC (Joel Greenblatt) % too high?
Reply SpA's current ROC (Joel Greenblatt) % of 110.28% is near median its 10-year median of 103.88. Over the past 10 years, this metric has ranged from a low of 65.16 to a high of 133.68. The Software industry median ROC (Joel Greenblatt) % is 19.63. Reply SpA's value of 110.28% is 461.8% above this industry median. Based on the distribution chart, Reply SpA ranks #652 out of 2811 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Reply SpA has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Reply SpA's ROC (Joel Greenblatt) % compare to IBM and ACN?
According to the Software industry distribution chart, Reply SpA ranks #652 out of 2811 companies for ROC (Joel Greenblatt) %. This places Reply SpA in the top 23% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.63. Reply SpA's value of 110.28% is 461.8% above this benchmark. Historically, Reply SpA's own ROC (Joel Greenblatt) % has ranged from 65.16 to 133.68 over the past decade. While the company's 10-year median is 103.88 vs. the industry median of 19.63, Reply 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 19.63, based on 2,811 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. Reply SpA's current ROC (Joel Greenblatt) % of 110.28% is 461.8% 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 Reply SpA and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Reply SpA's current ROC (Joel Greenblatt) % is 110.28%, which is near median its own 10-year median of 103.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reply SpA stock overvalued right now?
Based on GuruFocus' analysis, Reply SpA (MIL:REY) is currently considered Significantly Undervalued. The stock's GF Value™ is €146.73, compared to a current price of €95.45 — trading 34.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 110.28%, which is near median its 10-year median of 103.88 and 461.8% above the Software industry median of 19.63. Reply SpA's overall GF Score™ is 78/100 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 Reply SpA (MIL:REY), the current ROC (Joel Greenblatt) % is 110.28% 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 Reply SpA (MIL:REY) Overvalued in 2026?
Based on GuruFocus' analysis, Reply SpA stock appears to be undervalued.
The current stock price of €95.45 is trading 34.9% below its estimated GF Value™ of €146.73.
GuruFocus considers Reply SpA to be Significantly Undervalued.
Key valuation signals for MIL:REY:
ROC (Joel Greenblatt) %: 110.28% (near median its 10-year median of 103.88)
GF Value™: €146.73 vs. price of €95.45 (34.9% below fair value)
Industry Position: 461.8% above the Software median (#652 of 2811)
No single metric tells the full story. See the MIL:REY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reply SpA specialises in consulting, digital services, and the integration of processes, applications, and devices. Reply serves clients in the telecommunication and media, banking, insurance, financial, industry and services, energy and utilities, and public administration industries. The company provides its services mainly through platforms such as X-Rais Reply, Discovery Reply, Brick Reply, TamTamy, and SideUp Reply. Reply researches, selects, and markets solutions through channels such as data analysis, digital communication, e-commerce, mobile, and social media. Its business segments are defined based on geographical areas of operation and include Region 1 (including Italy, USA, Brazil, Poland, Romania, and Nanjing), which derives key revenue, Region 2, Region 3, and IoT Incubator.
78GF Score
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