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. Sarsys AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 12.62%.
The historical rank and industry rank for Sarsys AB's ROC (Joel Greenblatt) % or its related term are showing as below:
NGM:SARS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -140.81 Med: -53.61 Max: 134.72
Current: -102.88
During the past 13 years, Sarsys AB's highest ROC (Joel Greenblatt) % was 134.72%. The lowest was -140.81%. And the median was -53.61%.
NGM:SARS's ROC (Joel Greenblatt) % is ranked worse than 92.56% of 2487
companies
in the Hardware industry
Industry Median: 10.44
vs NGM:SARS: -102.88
Sarsys AB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Sarsys AB (NGM:SARS) 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.
The historical data trend for Sarsys AB'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.
NGM:SARS vs COHR, KEYS, GRMN: ROC (Joel Greenblatt) % Comparison
For the Scientific & Technical Instruments subindustry, Sarsys AB'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.
Sarsys AB ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Sarsys AB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Sarsys AB'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 (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 12.62% mean?
Sarsys AB (NGM:SARS) has a ROC (Joel Greenblatt) % of 12.62% 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 Sarsys AB and its competitors. According to the industry distribution chart, Sarsys AB ranks #2302 out of 2487 companies in the Hardware industry, placing it in the top 92.6%.
Is Sarsys AB's ROC (Joel Greenblatt) % too high?
Sarsys AB's current ROC (Joel Greenblatt) % is 12.62%. The Hardware industry median ROC (Joel Greenblatt) % is 10.44. Sarsys AB's value of 12.62% is 20.9% above this industry median. Based on the distribution chart, Sarsys AB ranks #2302 out of 2487 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Sarsys AB has a GF Score™ of 35/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Sarsys AB's ROC (Joel Greenblatt) % compare to COHR and KEYS?
According to the Hardware industry distribution chart, Sarsys AB ranks #2302 out of 2487 companies for ROC (Joel Greenblatt) %. This places Sarsys AB in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.44. Sarsys AB's value of 12.62% is 20.9% above this benchmark. 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 10.44, based on 2,487 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. Sarsys AB's current ROC (Joel Greenblatt) % of 12.62% is 20.9% 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 Sarsys AB and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sarsys AB's current ROC (Joel Greenblatt) % is 12.62%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sarsys AB stock overvalued right now?
Based on GuruFocus' analysis, Sarsys AB (NGM:SARS) is currently considered Fairly Valued. The stock's GF Value™ is kr0.59, compared to a current price of kr0.63 — trading 6.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 12.62% and 20.9% above the Hardware industry median of 10.44. Sarsys AB's overall GF Score™ is 35/100 with 5 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 Sarsys AB (NGM:SARS), the current ROC (Joel Greenblatt) % is 12.62% 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 Sarsys AB (NGM:SARS) Overvalued in 2026?
Based on GuruFocus' analysis, Sarsys AB stock appears to be overvalued.
The current stock price of kr0.63 is trading 6.4% above its estimated GF Value™ of kr0.59.
GuruFocus considers Sarsys AB to be Fairly Valued.
Key valuation signals for NGM:SARS:
ROC (Joel Greenblatt) %: 12.62%
GF Value™: kr0.59 vs. price of kr0.63 (6.4% above fair value)
Industry Position: 20.9% above the Hardware median (#2302 of 2487)
No single metric tells the full story. See the NGM:SARS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sarsys AB formerly SARSYS-ASFT AB is a developer and manufacturer of Continuous Friction Measuring Equipment and provider of cutting-edge ITS and Road/Runway Weather Information System. ASTF products include Volvo XC60/V90 Friction Tester, VW Sharan Friction, Skoda Octavia Friction, T-5 Trailer Friction, and T2GO Friction Tester. SARSYS products include Sarsys Volvo Friction Tester (V90), Sarsys Opel Friction, Sarsys Friction Tester Transporter, and Sarsys Trailer Friction Tester. The products include computerized technology for monitoring factors such as friction, freezing points, early ice warning-systems, precipitation, groundfrost, ice deposit growth, camera-surveillance systems among others.
35GF 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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