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. Spindox SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2025 was 300.54%.
The historical rank and industry rank for Spindox SpA's ROC (Joel Greenblatt) % or its related term are showing as below:
MIL:SPN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 66.7 Med: 185.8 Max: 289.66
Current: 289.66
During the past 6 years, Spindox SpA's highest ROC (Joel Greenblatt) % was 289.66%. The lowest was 66.70%. And the median was 185.80%.
MIL:SPN's ROC (Joel Greenblatt) % is not ranked
in the Software industry.
Industry Median: 19.63
vs MIL:SPN: 289.66
Spindox SpA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 22.20% 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.
Spindox SpA ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Spindox 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:SPN vs IBM, ACN, CTSH: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Spindox 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.
Spindox SpA ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Spindox SpA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Spindox 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 (Jun. 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 300.54% mean?
Spindox SpA (MIL:SPN) has a ROC (Joel Greenblatt) % of 300.54% as of Jun. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Spindox SpA and its competitors. This is 62% above median its historical median of 185.80. Over the past decade, Spindox SpA's ROC (Joel Greenblatt) % has ranged from 66.70 to 289.66.
Is Spindox SpA's ROC (Joel Greenblatt) % too high?
Spindox SpA's current ROC (Joel Greenblatt) % of 300.54% is 62% above median its 10-year median of 185.80. Over the past 10 years, this metric has ranged from a low of 66.70 to a high of 289.66. The Software industry median ROC (Joel Greenblatt) % is 19.63. Spindox SpA's value of 300.54% is 1431% above this industry median. Overall, Spindox SpA has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Spindox SpA's ROC (Joel Greenblatt) % compare to IBM and ACN?
Spindox SpA's ROC (Joel Greenblatt) % of 300.54% can be compared against companies in the Software industry. The industry median ROC (Joel Greenblatt) % is 19.63. Spindox SpA's value of 300.54% is 1431% above this benchmark. Historically, Spindox SpA's own ROC (Joel Greenblatt) % has ranged from 66.70 to 289.66 over the past decade. While the company's 10-year median is 185.80 vs. the industry median of 19.63, Spindox 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 2,799 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. Spindox SpA's current ROC (Joel Greenblatt) % of 300.54% is 1431% 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 Spindox 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. Spindox SpA's current ROC (Joel Greenblatt) % is 300.54%, which is 62% above median its own 10-year median of 185.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spindox SpA stock overvalued right now?
Spindox SpA (MIL:SPN) has a current ROC (Joel Greenblatt) % of 300.54%. The stock's GF Value™ is €10.82, compared to a current price of €12.95 — trading 19.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 300.54%, which is 62% above median its 10-year median of 185.80 and 1431% above the Software industry median of 19.63. Spindox SpA's overall GF Score™ is 57/100 with 8 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 Spindox SpA (MIL:SPN), the current ROC (Joel Greenblatt) % is 300.54% as of Jun. 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 Spindox SpA (MIL:SPN) Overvalued in 2026?
Based on GuruFocus' analysis, Spindox SpA stock appears to be overvalued.
The current stock price of €12.95 is trading 19.7% above its estimated GF Value™ of €10.82.
Key valuation signals for MIL:SPN:
ROC (Joel Greenblatt) %: 300.54% (62% above median its 10-year median of 185.80)
GF Value™: €10.82 vs. price of €12.95 (19.7% above fair value)
Industry Position: 1431% above the Software median
No single metric tells the full story. See the MIL:SPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spindox SpA operates in the Information and Communication Technology services and products market. It offers consulting, IT and network engineering services, AI technological solutions, and research support in the Italian market.
57GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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