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Smart Capital SpAMIL:SMCAP 9 ROC (Joel Greenblatt) % is 86,136.84% as of Dec. 2025, which is 864% above its 10-year median of 8,936.25. GuruFocus rates MIL:SMCAP with a GF Score™ of 9/100. The stock has 4 warning signs investors should review. Among 626 Asset Management companies, Smart Capital SpA ranks better than 97.44% 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. Smart Capital SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 86,136.84%.
The historical rank and industry rank for Smart Capital SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:SMCAP'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5728.57 Med: 8936.25 Max: 48873.68
Current: 48031.03
During the past 4 years, Smart Capital SpA's highest ROC (Joel Greenblatt) % was 48873.68%. The lowest was 5728.57%. And the median was 8936.25%.
MIL:SMCAP's ROC (Joel Greenblatt) % is ranked better than 97.44% of 626
companies
in the Asset Management industry
Industry Median: 64.34
vs MIL:SMCAP: 48031.03
Smart Capital SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Smart Capital SpA (MIL:SMCAP) 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.
Smart Capital SpA ROC (Joel Greenblatt) % Related Terms
Smart Capital SpA ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Smart Capital 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:SMCAP vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, Smart Capital 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.
Smart Capital SpA ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Smart Capital SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Smart Capital SpA's ROC (Joel Greenblatt) % falls into.
Smart Capital 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 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 86,136.84% mean?
Smart Capital SpA (MIL:SMCAP) has a ROC (Joel Greenblatt) % of 86,136.84% 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 Smart Capital SpA and its competitors. This is 864% above median its historical median of 8,936.25. Over the past decade, Smart Capital SpA's ROC (Joel Greenblatt) % has ranged from 5,728.57 to 48,873.68. According to the industry distribution chart, Smart Capital SpA ranks #16 out of 626 companies in the Asset Management industry, placing it in the top 2.6%.
Is Smart Capital SpA's ROC (Joel Greenblatt) % too high?
Smart Capital SpA's current ROC (Joel Greenblatt) % of 86,136.84% is 864% above median its 10-year median of 8,936.25. Over the past 10 years, this metric has ranged from a low of 5,728.57 to a high of 48,873.68. The Asset Management industry median ROC (Joel Greenblatt) % is 64.34. Smart Capital SpA's value of 86,136.84% is 133777.6% above this industry median. Based on the distribution chart, Smart Capital SpA ranks #16 out of 626 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Smart Capital SpA has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Smart Capital SpA's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Smart Capital SpA ranks #16 out of 626 companies for ROC (Joel Greenblatt) %. This places Smart Capital SpA in the top 3% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 64.34. Smart Capital SpA's value of 86,136.84% is 133777.6% above this benchmark. Historically, Smart Capital SpA's own ROC (Joel Greenblatt) % has ranged from 5,728.57 to 48,873.68 over the past decade. While the company's 10-year median is 8,936.25 vs. the industry median of 64.34, Smart Capital 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 Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 64.34, based on 626 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. Smart Capital SpA's current ROC (Joel Greenblatt) % of 86,136.84% is 133777.6% 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 Smart Capital SpA and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 64.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Smart Capital SpA's current ROC (Joel Greenblatt) % is 86,136.84%, which is 864% above median its own 10-year median of 8,936.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smart Capital SpA stock overvalued right now?
Smart Capital SpA (MIL:SMCAP) has a current ROC (Joel Greenblatt) % of 86,136.84%. The current ROC (Joel Greenblatt) % is 86,136.84%, which is 864% above median its 10-year median of 8,936.25 and 133777.6% above the Asset Management industry median of 64.34. Smart Capital SpA's overall GF Score™ is 9/100 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 Smart Capital SpA (MIL:SMCAP), the current ROC (Joel Greenblatt) % is 86,136.84% 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.
Smart Capital SpA is a permanent capital industrial holding company specializing in private investments in public equity (PIPE) and private equity, focusing on small and medium-sized Italian companies, listed, unlisted or in the pre-IPO phase, operating both in Italy and abroad. It is characterized, also in its investment approach, by an entrepreneurial and longterm DNA. The company's main activity consists of acquiring shares and other financial instruments that allow the purchase or subscription of shares, including in the context of capital increases, at the time of listing or subsequently (such as the PIPE), reserved placements, public subscription and sale offers.
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