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. Mermaid Maritime PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -5.79%.
The historical rank and industry rank for Mermaid Maritime PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
MMMPF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -64.71 Med: 3.25 Max: 15.59
Current: 9.28
During the past 13 years, Mermaid Maritime PCL's highest ROC (Joel Greenblatt) % was 15.59%. The lowest was -64.71%. And the median was 3.25%.
MMMPF's ROC (Joel Greenblatt) % is ranked better than 52.26% of 997
companies
in the Oil & Gas industry
Industry Median: 8.44
vs MMMPF: 9.28
Mermaid Maritime PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
Mermaid Maritime PCL ROC (Joel Greenblatt) % Related Terms
Mermaid Maritime PCL ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Mermaid Maritime PCL'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.
MMMPF vs SLB, BKR, HAL: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Equipment & Services subindustry, Mermaid Maritime PCL'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.
Mermaid Maritime PCL ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Mermaid Maritime PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Mermaid Maritime PCL'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 -5.79% mean?
Mermaid Maritime PCL (MMMPF) has a ROC (Joel Greenblatt) % of -5.79% 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 Mermaid Maritime PCL and its competitors. According to the industry distribution chart, Mermaid Maritime PCL ranks #476 out of 997 companies in the Oil & Gas industry, placing it in the top 47.7%.
Is Mermaid Maritime PCL's ROC (Joel Greenblatt) % too high?
Mermaid Maritime PCL's current ROC (Joel Greenblatt) % is -5.79%. Based on the distribution chart, Mermaid Maritime PCL ranks #476 out of 997 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Mermaid Maritime PCL has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mermaid Maritime PCL's ROC (Joel Greenblatt) % compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, Mermaid Maritime PCL ranks #476 out of 997 companies for ROC (Joel Greenblatt) %. This puts Mermaid Maritime PCL in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.44. 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 Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.44, based on 997 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. 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 Mermaid Maritime PCL and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mermaid Maritime PCL's current ROC (Joel Greenblatt) % is -5.79%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mermaid Maritime PCL stock overvalued right now?
Based on GuruFocus' analysis, Mermaid Maritime PCL (MMMPF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.06, compared to a current price of $0.08 — trading 33.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is -5.79%. Mermaid Maritime PCL's overall GF Score™ is 47/100 with 7 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 Mermaid Maritime PCL (MMMPF), the current ROC (Joel Greenblatt) % is -5.79% 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 Mermaid Maritime PCL (MMMPF) Overvalued in 2026?
Based on GuruFocus' analysis, Mermaid Maritime PCL stock appears to be overvalued.
The current stock price of $0.08 is trading 33.3% above its estimated GF Value™ of $0.06.
GuruFocus considers Mermaid Maritime PCL to be Significantly Overvalued.
Key valuation signals for MMMPF:
ROC (Joel Greenblatt) %: -5.79%
GF Value™: $0.06 vs. price of $0.08 (33.3% above fair value)
No single metric tells the full story. See the MMMPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mermaid Maritime PCL is a subsea and offshore drilling services company. It provides full turnkey services to oil and gas majors operating offshore such as subsea vessels, specialized diving equipment, remotely operated vehicles, and drilling and accommodation rigs. Its segments are the Subsea Group and Holding. The Subsea group, which is the key revenue driver, provides services including inspection, repair, and maintenance (IRM), infrastructure installation support, remotely operated vehicle (ROV) Support, and cable and flexible pipe laying. The company has a presence across the world and Saudi Arabia is the highest income generator.
47GF Score
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