Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Black BoxNSE:BBOX +0.73%71 ROC (Joel Greenblatt) % is 79.73% as of Mar. 2026, which is 67% above its 10-year median of 47.68. GuruFocus rates NSE:BBOX with a GF Score™ of 71/100 and a GF Value™ of ₹505.11 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,816 Software companies, Black Box ranks better than 69.25% 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. Black Box's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 79.73%.
The historical rank and industry rank for Black Box's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:BBOX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -38.58 Med: 47.68 Max: 179.16
Current: 81.02
During the past 13 years, Black Box's highest ROC (Joel Greenblatt) % was 179.16%. The lowest was -38.58%. And the median was 47.68%.
NSE:BBOX's ROC (Joel Greenblatt) % is ranked better than 69.25% of 2816
companies
in the Software industry
Industry Median: 20.03
vs NSE:BBOX: 81.02
Black Box's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 22.20% per year.
Black Box (NSE:BBOX) 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 Black Box'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.
NSE:BBOX vs UBER, SHOP, CRM: ROC (Joel Greenblatt) % Comparison
For the Software - Application subindustry, Black Box'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.
Black Box ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Black Box's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Black Box'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 79.73% mean?
Black Box (NSE:BBOX) has a ROC (Joel Greenblatt) % of 79.73% 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 Black Box and its competitors. This is 67% above median its historical median of 47.68. According to the industry distribution chart, Black Box ranks #866 out of 2816 companies in the Software industry, placing it in the top 30.8%.
Is Black Box's ROC (Joel Greenblatt) % too high?
Black Box's current ROC (Joel Greenblatt) % of 79.73% is 67% above median its 10-year median of 47.68. The Software industry median ROC (Joel Greenblatt) % is 20.03. Black Box's value of 79.73% is 298.1% above this industry median. Based on the distribution chart, Black Box ranks #866 out of 2816 companies in the Software industry, which is above the industry midpoint. Overall, Black Box has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Black Box's ROC (Joel Greenblatt) % compare to UBER and SHOP?
According to the Software industry distribution chart, Black Box ranks #866 out of 2816 companies for ROC (Joel Greenblatt) %. This puts Black Box in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 20.03. Black Box's value of 79.73% is 298.1% above this benchmark. While the company's 10-year median is 47.68 vs. the industry median of 20.03, Black Box 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 20.03, based on 2,816 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. Black Box's current ROC (Joel Greenblatt) % of 79.73% is 298.1% 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 Black Box and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 20.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Black Box's current ROC (Joel Greenblatt) % is 79.73%, which is 67% above median its own 10-year median of 47.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Black Box stock overvalued right now?
Based on GuruFocus' analysis, Black Box (NSE:BBOX) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹505.11, compared to a current price of ₹786.60 — trading 55.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 79.73%, which is 67% above median its 10-year median of 47.68 and 298.1% above the Software industry median of 20.03. Black Box's overall GF Score™ is 71/100 with 2 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 Black Box (NSE:BBOX), the current ROC (Joel Greenblatt) % is 79.73% 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 Black Box (NSE:BBOX) Overvalued in 2026?
Based on GuruFocus' analysis, Black Box stock appears to be overvalued.
The current stock price of ₹786.60 is trading 55.7% above its estimated GF Value™ of ₹505.11.
GuruFocus considers Black Box to be Significantly Overvalued.
Key valuation signals for NSE:BBOX:
ROC (Joel Greenblatt) %: 79.73% (67% above median its 10-year median of 47.68)
GF Value™: ₹505.11 vs. price of ₹786.60 (55.7% above fair value)
Industry Position: 298.1% above the Software median (#866 of 2816)
No single metric tells the full story. See the NSE:BBOX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Black Box Ltd along with its subsidiaries provides information, communications technology solutions provider, and an integrator that delivers technology-based solutions across world markets and verticals with a spectrum of applications and services. The company's operating segments are Global System Integration (GSI); Technology Product Solution (TPS) and Others comprising of training and consulting services. It generates maximum revenue from the System Integration (SI) segment. The company exports its product to the Middle East/Africa, North America, Australia, New Zealand, Singapore, and Europe. Its solution line consists of unified communications, network infrastructure, data center, cyber security (CYBER-i), and digital transformation and applications.
71GF Score
Get the complete analysis for NSE:BBOX
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:BBOX has been successfully added to your 
