Devyani InternationalNSE:DEVYANI -0.05%80 ROC (Joel Greenblatt) % is 5.48% as of Mar. 2026, which is 20% below its 10-year median of 6.84. GuruFocus rates NSE:DEVYANI with a GF Score™ of 80/100 and a GF Value™ of ₹242.15 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 361 Restaurants companies, Devyani International ranks worse than 57.89% 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. Devyani International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.48%.
The historical rank and industry rank for Devyani International's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:DEVYANI'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.74 Med: 6.84 Max: 20.9
Current: 6
During the past 8 years, Devyani International's highest ROC (Joel Greenblatt) % was 20.90%. The lowest was 4.74%. And the median was 6.84%.
NSE:DEVYANI's ROC (Joel Greenblatt) % is ranked worse than 57.89% of 361
companies
in the Restaurants industry
Industry Median: 8.45
vs NSE:DEVYANI: 6.00
Devyani International's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -6.60% per year.
Devyani International (NSE:DEVYANI) 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.
Devyani International ROC (Joel Greenblatt) % Related Terms
Devyani International ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Devyani International'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.
Devyani International ROC (Joel Greenblatt) % Chart
NSE:DEVYANI vs MCD, SBUX, YUM: ROC (Joel Greenblatt) % Comparison
For the Restaurants subindustry, Devyani International'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.
Devyani International ROC (Joel Greenblatt) % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Devyani International's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Devyani International's ROC (Joel Greenblatt) % falls into.
Devyani International 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 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 5.48% mean?
Devyani International (NSE:DEVYANI) has a ROC (Joel Greenblatt) % of 5.48% 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 Devyani International and its competitors. This is 20% below median its historical median of 6.84. Over the past decade, Devyani International's ROC (Joel Greenblatt) % has ranged from 4.74 to 20.90. According to the industry distribution chart, Devyani International ranks #209 out of 361 companies in the Restaurants industry, placing it in the top 57.9%.
Is Devyani International's ROC (Joel Greenblatt) % too high?
Devyani International's current ROC (Joel Greenblatt) % of 5.48% is 20% below median its 10-year median of 6.84. Over the past 10 years, this metric has ranged from a low of 4.74 to a high of 20.90. The Restaurants industry median ROC (Joel Greenblatt) % is 8.45. Devyani International's value of 5.48% is 35.1% below this industry median. Based on the distribution chart, Devyani International ranks #209 out of 361 companies in the Restaurants industry, which is below the industry midpoint. Overall, Devyani International has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Devyani International's ROC (Joel Greenblatt) % compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Devyani International ranks #209 out of 361 companies for ROC (Joel Greenblatt) %. This places Devyani International in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.45. Devyani International's value of 5.48% is 35.1% below this benchmark. Historically, Devyani International's own ROC (Joel Greenblatt) % has ranged from 4.74 to 20.90 over the past decade. While the company's 10-year median is 6.84 vs. the industry median of 8.45, Devyani International has consistently been below 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 8.45, based on 361 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. Devyani International's current ROC (Joel Greenblatt) % of 5.48% is 35.1% below 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 Devyani International and its competitors. For the Restaurants industry, the median ROC (Joel Greenblatt) % is 8.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Devyani International's current ROC (Joel Greenblatt) % is 5.48%, which is 20% below median its own 10-year median of 6.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Devyani International stock overvalued right now?
Based on GuruFocus' analysis, Devyani International (NSE:DEVYANI) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹242.15, compared to a current price of ₹114.13 — trading 52.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 5.48%, which is 20% below median its 10-year median of 6.84 and 35.1% below the Restaurants industry median of 8.45. Devyani International's overall GF Score™ is 80/100 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 Devyani International (NSE:DEVYANI), the current ROC (Joel Greenblatt) % is 5.48% 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 Devyani International (NSE:DEVYANI) Overvalued in 2026?
Based on GuruFocus' analysis, Devyani International stock appears to be undervalued.
The current stock price of ₹114.13 is trading 52.9% below its estimated GF Value™ of ₹242.15.
GuruFocus considers Devyani International to be Significantly Undervalued.
Key valuation signals for NSE:DEVYANI:
ROC (Joel Greenblatt) %: 5.48% (20% below median its 10-year median of 6.84)
GF Value™: ₹242.15 vs. price of ₹114.13 (52.9% below fair value)
Industry Position: 35.1% below the Restaurants median (#209 of 361)
No single metric tells the full story. See the NSE:DEVYANI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Devyani International Ltd is a franchisee of Yum Brands in India and is among the largest operators of a quick-service restaurant chain (QSR chain), operating around 1,243 stores across 155 cities in India. Companies products includes PizzaHut, KFC, Costa Coffee, Vaang.o, The Food Street, and more. Geographically, operates domestically and internationally, with the majority of revenue from India.
80GF Score
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