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Noble Roman'sNROM -3.40%31 ROC (Joel Greenblatt) % is 27.90% as of Mar. 2026, which is 62% above its 10-year median of 17.18. GuruFocus rates NROM with a GF Score™ of 31/100 and a GF Value™ of $0.32 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 363 Restaurants companies, Noble Roman's ranks better than 84.02% 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. Noble Roman's's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.90%.
The historical rank and industry rank for Noble Roman's's ROC (Joel Greenblatt) % or its related term are showing as below:
NROM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -27.79 Med: 17.18 Max: 47.4
Current: 36.41
During the past 13 years, Noble Roman's's highest ROC (Joel Greenblatt) % was 47.40%. The lowest was -27.79%. And the median was 17.18%.
NROM's ROC (Joel Greenblatt) % is ranked better than 84.02% of 363
companies
in the Restaurants industry
Industry Median: 8.67
vs NROM: 36.41
Noble Roman's'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.
Noble Roman's ROC (Joel Greenblatt) % Related Terms
Noble Roman's ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Noble Roman's'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.
NROM vs GTIM, MHGU, PETZ: ROC (Joel Greenblatt) % Comparison
For the Restaurants subindustry, Noble Roman's'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.
Noble Roman's ROC (Joel Greenblatt) % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Noble Roman's's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Noble Roman's'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 27.90% mean?
Noble Roman's (NROM) has a ROC (Joel Greenblatt) % of 27.90% 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 Noble Roman's and its competitors. This is 62% above median its historical median of 17.18. According to the industry distribution chart, Noble Roman's ranks #58 out of 363 companies in the Restaurants industry, placing it in the top 16%.
Is Noble Roman's' ROC (Joel Greenblatt) % too high?
Noble Roman's' current ROC (Joel Greenblatt) % of 27.90% is 62% above median its 10-year median of 17.18. The Restaurants industry median ROC (Joel Greenblatt) % is 8.67. Noble Roman's' value of 27.90% is 221.8% above this industry median. Based on the distribution chart, Noble Roman's ranks #58 out of 363 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers. Overall, Noble Roman's has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Noble Roman's' ROC (Joel Greenblatt) % compare to GTIM and MHGU?
According to the Restaurants industry distribution chart, Noble Roman's ranks #58 out of 363 companies for ROC (Joel Greenblatt) %. This places Noble Roman's in the top 16% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.67. Noble Roman's' value of 27.90% is 221.8% above this benchmark. While the company's 10-year median is 17.18 vs. the industry median of 8.67, Noble Roman's 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 Restaurants company?
The median ROC (Joel Greenblatt) % among Restaurants companies is 8.67, based on 363 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. Noble Roman's's current ROC (Joel Greenblatt) % of 27.90% is 221.8% 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 Noble Roman's and its competitors. For the Restaurants industry, the median ROC (Joel Greenblatt) % is 8.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noble Roman's's current ROC (Joel Greenblatt) % is 27.90%, which is 62% above median its own 10-year median of 17.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noble Roman's stock overvalued right now?
Based on GuruFocus' analysis, Noble Roman's (NROM) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.32, compared to a current price of $0.62 — trading 94.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 27.90%, which is 62% above median its 10-year median of 17.18 and 221.8% above the Restaurants industry median of 8.67. Noble Roman's' overall GF Score™ is 31/100 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 Noble Roman's (NROM), the current ROC (Joel Greenblatt) % is 27.90% 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 Noble Roman's (NROM) Overvalued in 2026?
Based on GuruFocus' analysis, Noble Roman's stock appears to be overvalued.
The current stock price of $0.62 is trading 94.2% above its estimated GF Value™ of $0.32.
GuruFocus considers Noble Roman's to be Significantly Overvalued.
Key valuation signals for NROM:
ROC (Joel Greenblatt) %: 27.90% (62% above median its 10-year median of 17.18)
GF Value™: $0.32 vs. price of $0.62 (94.2% above fair value)
Industry Position: 221.8% above the Restaurants median (#58 of 363)
No single metric tells the full story. See the NROM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Noble Roman's Inc is a restaurant operator. It sells and services franchises and licenses and operates Company-owned stand-alone restaurants and non-traditional foodservice operations under the trade names Noble Roman's Craft Pizza & Pub, Noble Roman's Pizza, Noble Roman's Take-N-Bake, and Tuscano's Italian Style Subs. The Company has two reportable operating segments: Franchising - Consists of franchise royalties, franchise fee revenue, manufacturer and distributor allowances, equipment commissions, and related support activities; and Company-Owned Restaurants - Consists of the operations of Company-owned Craft Pizza & Pub locations and Company-operated non-traditional restaurant locations.
31GF Score
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