Avenue SupermartsNSE:DMART -1.19%98 ROC (Joel Greenblatt) % is 14.99% as of Mar. 2026, which is 33% below its 10-year median of 22.52. GuruFocus rates NSE:DMART with a GF Score™ of 98/100 and a GF Value™ of ₹5,541.71 (Modestly Undervalued). Among 308 Retail - Defensive companies, Avenue Supermarts ranks better than 63.31% 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. Avenue Supermarts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.99%.
The historical rank and industry rank for Avenue Supermarts's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:DMART'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 17.88 Med: 22.52 Max: 27.78
Current: 18.38
During the past 13 years, Avenue Supermarts's highest ROC (Joel Greenblatt) % was 27.78%. The lowest was 17.88%. And the median was 22.52%.
NSE:DMART's ROC (Joel Greenblatt) % is ranked better than 63.31% of 308
companies
in the Retail - Defensive industry
Industry Median: 13.375
vs NSE:DMART: 18.38
Avenue Supermarts's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.40% 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.
Avenue Supermarts ROC (Joel Greenblatt) % Related Terms
Avenue Supermarts ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Avenue Supermarts'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:DMART vs WMT, COST, TGT: ROC (Joel Greenblatt) % Comparison
For the Discount Stores subindustry, Avenue Supermarts'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.
Avenue Supermarts ROC (Joel Greenblatt) % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Avenue Supermarts's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Avenue Supermarts'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 14.99% mean?
Avenue Supermarts (NSE:DMART) has a ROC (Joel Greenblatt) % of 14.99% 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 Avenue Supermarts and its competitors. This is 33% below median its historical median of 22.52. Over the past decade, Avenue Supermarts' ROC (Joel Greenblatt) % has ranged from 17.88 to 27.78. According to the industry distribution chart, Avenue Supermarts ranks #113 out of 308 companies in the Retail - Defensive industry, placing it in the top 36.7%.
Is Avenue Supermarts' ROC (Joel Greenblatt) % too high?
Avenue Supermarts' current ROC (Joel Greenblatt) % of 14.99% is 33% below median its 10-year median of 22.52. Over the past 10 years, this metric has ranged from a low of 17.88 to a high of 27.78. The Retail - Defensive industry median ROC (Joel Greenblatt) % is 13.38. Avenue Supermarts' value of 14.99% is 12.1% above this industry median. Based on the distribution chart, Avenue Supermarts ranks #113 out of 308 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Avenue Supermarts has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Avenue Supermarts' ROC (Joel Greenblatt) % compare to WMT and COST?
According to the Retail - Defensive industry distribution chart, Avenue Supermarts ranks #113 out of 308 companies for ROC (Joel Greenblatt) %. This puts Avenue Supermarts in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 13.38. Avenue Supermarts' value of 14.99% is 12.1% above this benchmark. Historically, Avenue Supermarts' own ROC (Joel Greenblatt) % has ranged from 17.88 to 27.78 over the past decade. While the company's 10-year median is 22.52 vs. the industry median of 13.38, Avenue Supermarts 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 Retail - Defensive company?
The median ROC (Joel Greenblatt) % among Retail - Defensive companies is 13.38, based on 308 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. Avenue Supermarts's current ROC (Joel Greenblatt) % of 14.99% is 12.1% 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 Avenue Supermarts and its competitors. For the Retail - Defensive industry, the median ROC (Joel Greenblatt) % is 13.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Avenue Supermarts's current ROC (Joel Greenblatt) % is 14.99%, which is 33% below median its own 10-year median of 22.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Avenue Supermarts stock overvalued right now?
Based on GuruFocus' analysis, Avenue Supermarts (NSE:DMART) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹5,541.71, compared to a current price of ₹4,328.60 — trading 21.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 14.99%, which is 33% below median its 10-year median of 22.52 and 12.1% above the Retail - Defensive industry median of 13.38. Avenue Supermarts' overall GF Score™ is 98/100. 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 Avenue Supermarts (NSE:DMART), the current ROC (Joel Greenblatt) % is 14.99% 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 Avenue Supermarts (NSE:DMART) Overvalued in 2026?
Based on GuruFocus' analysis, Avenue Supermarts stock appears to be undervalued.
The current stock price of ₹4,328.60 is trading 21.9% below its estimated GF Value™ of ₹5,541.71.
GuruFocus considers Avenue Supermarts to be Modestly Undervalued.
Key valuation signals for NSE:DMART:
ROC (Joel Greenblatt) %: 14.99% (33% below median its 10-year median of 22.52)
GF Value™: ₹5,541.71 vs. price of ₹4,328.60 (21.9% below fair value)
Industry Position: 12.1% above the Retail - Defensive median (#113 of 308)
No single metric tells the full story. See the NSE:DMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Avenue Supermarts Ltd is an India-based company engaged in the business of organized retail and operates supermarkets under the brand name of D-Mart. It provides products under the categories of Foods, Non-Foods (FMCG) and General Merchandise and Apparel. Foods category includes products such as dairy, staples, groceries, snacks, frozen products, processed foods, beverages and confectionary and fruits and vegetables. Non-Foods (FMCG) comprises home care products, personal care products, toiletries and other over-the-counter products. General Merchandise and Apparel include bed and bath, toys and games, crockery, plastic goods, garments, footwear, utensils and home appliances. The business operations of the company are principally carried out in India.
98GF Score
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