Northern Star ResourcesNESRF -2.72%94 ROC (Joel Greenblatt) % is 13.39% as of Dec. 2025, which is 43% below its 10-year median of 23.52. GuruFocus rates NESRF with a GF Score™ of 94/100 and a GF Value™ of $14.50 (Fairly Valued). The stock has 3 warning signs investors should review. Among 2,499 Metals & Mining companies, Northern Star Resources ranks better than 85.03% 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. Northern Star Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 13.39%.
The historical rank and industry rank for Northern Star Resources's ROC (Joel Greenblatt) % or its related term are showing as below:
NESRF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.76 Med: 23.52 Max: 76.22
Current: 16.19
During the past 13 years, Northern Star Resources's highest ROC (Joel Greenblatt) % was 76.22%. The lowest was 6.76%. And the median was 23.52%.
NESRF's ROC (Joel Greenblatt) % is ranked better than 85.03% of 2499
companies
in the Metals & Mining industry
Industry Median: -22.36
vs NESRF: 16.19
Northern Star Resources's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -10.40% per year.
Northern Star Resources (OTCPK:NESRF) 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.
Northern Star Resources ROC (Joel Greenblatt) % Related Terms
Northern Star Resources ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Northern Star Resources'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.
Northern Star Resources ROC (Joel Greenblatt) % Chart
NESRF vs NEM, AU: ROC (Joel Greenblatt) % Comparison
For the Gold subindustry, Northern Star Resources'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.
Northern Star Resources ROC (Joel Greenblatt) % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Northern Star Resources's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Northern Star Resources's ROC (Joel Greenblatt) % falls into.
Northern Star Resources 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 13.39% mean?
Northern Star Resources (NESRF) has a ROC (Joel Greenblatt) % of 13.39% 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 Northern Star Resources and its competitors. This is 43% below median its historical median of 23.52. Over the past decade, Northern Star Resources' ROC (Joel Greenblatt) % has ranged from 6.76 to 76.22. According to the industry distribution chart, Northern Star Resources ranks #374 out of 2499 companies in the Metals & Mining industry, placing it in the top 15%.
Is Northern Star Resources' ROC (Joel Greenblatt) % too high?
Northern Star Resources' current ROC (Joel Greenblatt) % of 13.39% is 43% below median its 10-year median of 23.52. Over the past 10 years, this metric has ranged from a low of 6.76 to a high of 76.22. Based on the distribution chart, Northern Star Resources ranks #374 out of 2499 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Northern Star Resources has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Northern Star Resources' ROC (Joel Greenblatt) % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Northern Star Resources ranks #374 out of 2499 companies for ROC (Joel Greenblatt) %. This places Northern Star Resources in the top 15% of its industry — outperforming the majority of peers. Historically, Northern Star Resources' own ROC (Joel Greenblatt) % has ranged from 6.76 to 76.22 over the past decade. 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 Metals & Mining company?
A good ROC (Joel Greenblatt) % depends on the Metals & Mining industry context. 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 Northern Star Resources and its competitors. Northern Star Resources's current ROC (Joel Greenblatt) % is 13.39%, which is 43% below median its own 10-year median of 23.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Star Resources stock overvalued right now?
Based on GuruFocus' analysis, Northern Star Resources (NESRF) is currently considered Fairly Valued. The stock's GF Value™ is $14.50, compared to a current price of $13.40 — trading 7.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 13.39%, which is 43% below median its 10-year median of 23.52. Northern Star Resources' overall GF Score™ is 94/100 with 3 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 Northern Star Resources (NESRF), the current ROC (Joel Greenblatt) % is 13.39% 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 Northern Star Resources (NESRF) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Star Resources stock appears to be undervalued.
The current stock price of $13.40 is trading 7.6% below its estimated GF Value™ of $14.50.
GuruFocus considers Northern Star Resources to be Fairly Valued.
Key valuation signals for NESRF:
ROC (Joel Greenblatt) %: 13.39% (43% below median its 10-year median of 23.52)
GF Value™: $14.50 vs. price of $13.40 (7.6% below fair value)
No single metric tells the full story. See the NESRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Star is an Australia-based midtier global gold miner that sold around 1.6 million ounces of gold in fiscal 2025 from its three wholly owned mining operations in Australia and Alaska. Its operations are the result of significant merger and acquisition activity including 14 acquisitions and four asset sales since 2010. It had roughly a decade of reserves at the end of fiscal 2025.
94GF Score
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