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British American Tobacco KenyaNAI:BAT -0.17%69 ROC (Joel Greenblatt) % is 82.06% as of Dec. 2025, which is 12% above its 10-year median of 73.36. GuruFocus rates NAI:BAT with a GF Score™ of 69/100 and a GF Value™ of KES355.31 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 47 Tobacco Products companies, British American Tobacco Kenya ranks better than 59.57% 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. British American Tobacco Kenya's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 82.06%.
The historical rank and industry rank for British American Tobacco Kenya's ROC (Joel Greenblatt) % or its related term are showing as below:
NAI:BAT'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 51.46 Med: 73.36 Max: 82.56
Current: 82.56
During the past 7 years, British American Tobacco Kenya's highest ROC (Joel Greenblatt) % was 82.56%. The lowest was 51.46%. And the median was 73.36%.
NAI:BAT's ROC (Joel Greenblatt) % is ranked better than 59.57% of 47
companies
in the Tobacco Products industry
Industry Median: 42.96
vs NAI:BAT: 82.56
British American Tobacco Kenya (NAI:BAT) 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.
* 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.
British American Tobacco Kenya ROC (Joel Greenblatt) % Chart
NAI:BAT vs PM, MO, TPB: ROC (Joel Greenblatt) % Comparison
For the Tobacco subindustry, British American Tobacco Kenya'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.
British American Tobacco Kenya ROC (Joel Greenblatt) % vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Kenya's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where British American Tobacco Kenya's ROC (Joel Greenblatt) % falls into.
British American Tobacco Kenya 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 82.06% mean?
British American Tobacco Kenya (NAI:BAT) has a ROC (Joel Greenblatt) % of 82.06% 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 British American Tobacco Kenya and its competitors. This is 12% above median its historical median of 73.36. Over the past decade, British American Tobacco Kenya's ROC (Joel Greenblatt) % has ranged from 51.46 to 82.56. According to the industry distribution chart, British American Tobacco Kenya ranks #19 out of 47 companies in the Tobacco Products industry, placing it in the top 40.4%.
Is British American Tobacco Kenya's ROC (Joel Greenblatt) % too high?
British American Tobacco Kenya's current ROC (Joel Greenblatt) % of 82.06% is 12% above median its 10-year median of 73.36. Over the past 10 years, this metric has ranged from a low of 51.46 to a high of 82.56. The Tobacco Products industry median ROC (Joel Greenblatt) % is 42.96. British American Tobacco Kenya's value of 82.06% is 91% above this industry median. Based on the distribution chart, British American Tobacco Kenya ranks #19 out of 47 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, British American Tobacco Kenya has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Kenya's ROC (Joel Greenblatt) % compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Kenya ranks #19 out of 47 companies for ROC (Joel Greenblatt) %. This puts British American Tobacco Kenya in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 42.96. British American Tobacco Kenya's value of 82.06% is 91% above this benchmark. Historically, British American Tobacco Kenya's own ROC (Joel Greenblatt) % has ranged from 51.46 to 82.56 over the past decade. While the company's 10-year median is 73.36 vs. the industry median of 42.96, British American Tobacco Kenya 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 Tobacco Products company?
The median ROC (Joel Greenblatt) % among Tobacco Products companies is 42.96, based on 47 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. British American Tobacco Kenya's current ROC (Joel Greenblatt) % of 82.06% is 91% 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 British American Tobacco Kenya and its competitors. For the Tobacco Products industry, the median ROC (Joel Greenblatt) % is 42.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Kenya's current ROC (Joel Greenblatt) % is 82.06%, which is 12% above median its own 10-year median of 73.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Kenya stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Kenya (NAI:BAT) is currently considered Significantly Overvalued. The stock's GF Value™ is KES355.31, compared to a current price of KES579.00 — trading 63% above its estimated fair value. The current ROC (Joel Greenblatt) % is 82.06%, which is 12% above median its 10-year median of 73.36 and 91% above the Tobacco Products industry median of 42.96. British American Tobacco Kenya's overall GF Score™ is 69/100 with 6 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 British American Tobacco Kenya (NAI:BAT), the current ROC (Joel Greenblatt) % is 82.06% 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 British American Tobacco Kenya (NAI:BAT) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Kenya stock appears to be overvalued.
The current stock price of KES579.00 is trading 63% above its estimated GF Value™ of KES355.31.
GuruFocus considers British American Tobacco Kenya to be Significantly Overvalued.
Key valuation signals for NAI:BAT:
ROC (Joel Greenblatt) %: 82.06% (12% above median its 10-year median of 73.36)
GF Value™: KES355.31 vs. price of KES579.00 (63% above fair value)
Industry Position: 91% above the Tobacco Products median (#19 of 47)
No single metric tells the full story. See the NAI:BAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Kenya Business Description
British American Tobacco Kenya PLC multi-category consumer goods business that operates internationally. The business activities of the company involves activities ranging from the growing of tobacco leaf to the distribution and sale of finished tobacco products and nicotine products without tobacco. The product portfolio of the company comprises a range of high-quality and creative products, including cigarettes (combustible products), cut-rug tobacco (unprocessed tobacco), and potentially reduced-risk category of tobacco-free oral nicotine products.
69GF Score
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