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East African BreweriesNAI:EABL +1.84%87 ROC (Joel Greenblatt) % is 48.14% as of Dec. 2025, which is 40% above its 10-year median of 34.32. GuruFocus rates NAI:EABL with a GF Score™ of 87/100 and a GF Value™ of KES323.96 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 210 Beverages - Alcoholic companies, East African Breweries ranks better than 80% 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. East African Breweries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 48.14%.
The historical rank and industry rank for East African Breweries's ROC (Joel Greenblatt) % or its related term are showing as below:
NAI:EABL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 24.93 Med: 34.32 Max: 45.62
Current: 36.54
During the past 13 years, East African Breweries's highest ROC (Joel Greenblatt) % was 45.62%. The lowest was 24.93%. And the median was 34.32%.
NAI:EABL's ROC (Joel Greenblatt) % is ranked better than 80% of 210
companies
in the Beverages - Alcoholic industry
Industry Median: 12.31
vs NAI:EABL: 36.54
East African Breweries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 3.90% per year.
East African Breweries (NAI:EABL) 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.
East African Breweries ROC (Joel Greenblatt) % Related Terms
East African Breweries ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for East African Breweries'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.
East African Breweries ROC (Joel Greenblatt) % Chart
NAI:EABL vs STZ, TAP: ROC (Joel Greenblatt) % Comparison
For the Beverages - Brewers subindustry, East African Breweries'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.
East African Breweries ROC (Joel Greenblatt) % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, East African Breweries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where East African Breweries's ROC (Joel Greenblatt) % falls into.
East African Breweries 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 48.14% mean?
East African Breweries (NAI:EABL) has a ROC (Joel Greenblatt) % of 48.14% 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 East African Breweries and its competitors. This is 40% above median its historical median of 34.32. Over the past decade, East African Breweries' ROC (Joel Greenblatt) % has ranged from 24.93 to 45.62. According to the industry distribution chart, East African Breweries ranks #42 out of 210 companies in the Beverages - Alcoholic industry, placing it in the top 20%.
Is East African Breweries' ROC (Joel Greenblatt) % too high?
East African Breweries' current ROC (Joel Greenblatt) % of 48.14% is 40% above median its 10-year median of 34.32. Over the past 10 years, this metric has ranged from a low of 24.93 to a high of 45.62. The Beverages - Alcoholic industry median ROC (Joel Greenblatt) % is 12.31. East African Breweries' value of 48.14% is 291.1% above this industry median. Based on the distribution chart, East African Breweries ranks #42 out of 210 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, East African Breweries has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does East African Breweries' ROC (Joel Greenblatt) % compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, East African Breweries ranks #42 out of 210 companies for ROC (Joel Greenblatt) %. This places East African Breweries in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.31. East African Breweries' value of 48.14% is 291.1% above this benchmark. Historically, East African Breweries' own ROC (Joel Greenblatt) % has ranged from 24.93 to 45.62 over the past decade. While the company's 10-year median is 34.32 vs. the industry median of 12.31, East African Breweries 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 Beverages - Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Alcoholic companies is 12.31, based on 210 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. East African Breweries's current ROC (Joel Greenblatt) % of 48.14% is 291.1% 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 East African Breweries and its competitors. For the Beverages - Alcoholic industry, the median ROC (Joel Greenblatt) % is 12.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. East African Breweries's current ROC (Joel Greenblatt) % is 48.14%, which is 40% above median its own 10-year median of 34.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is East African Breweries stock overvalued right now?
Based on GuruFocus' analysis, East African Breweries (NAI:EABL) is currently considered Modestly Undervalued. The stock's GF Value™ is KES323.96, compared to a current price of KES277.00 — trading 14.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 48.14%, which is 40% above median its 10-year median of 34.32 and 291.1% above the Beverages - Alcoholic industry median of 12.31. East African Breweries' overall GF Score™ is 87/100 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 East African Breweries (NAI:EABL), the current ROC (Joel Greenblatt) % is 48.14% 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 East African Breweries (NAI:EABL) Overvalued in 2026?
Based on GuruFocus' analysis, East African Breweries stock appears to be undervalued.
The current stock price of KES277.00 is trading 14.5% below its estimated GF Value™ of KES323.96.
GuruFocus considers East African Breweries to be Modestly Undervalued.
Key valuation signals for NAI:EABL:
ROC (Joel Greenblatt) %: 48.14% (40% above median its 10-year median of 34.32)
GF Value™: KES323.96 vs. price of KES277.00 (14.5% below fair value)
Industry Position: 291.1% above the Beverages - Alcoholic median (#42 of 210)
No single metric tells the full story. See the NAI:EABL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
East African Breweries PLC is a branded alcohol beverage company. The firm and its subsidiaries are involved in the marketing, production, and distribution of a collection of brands that range from beer, spirits, and adult non-alcoholic drinks. The company has invested in breweries, distilleries, support industries, and a distribution network across the region. The firm derives its revenue mainly from brewing, marketing, and selling of drinks, malt, and barley. Its geographical segments include Kenya, Uganda, and Tanzania, of which the majority of the revenue is generated from Kenya.
87GF Score
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