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Hindustan AeronauticsNSE:HAL -0.42%93 ROC (Joel Greenblatt) % is 188.07% as of Mar. 2026, which is 183% above its 10-year median of 66.41. GuruFocus rates NSE:HAL with a GF Score™ of 93/100 and a GF Value™ of ₹4,748.03 (Fairly Valued). The stock has 4 warning signs investors should review. Among 358 Aerospace & Defense companies, Hindustan Aeronautics ranks better than 95.25% 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. Hindustan Aeronautics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 188.07%.
The historical rank and industry rank for Hindustan Aeronautics's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:HAL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 28.32 Med: 66.41 Max: 152.29
Current: 137.98
During the past 13 years, Hindustan Aeronautics's highest ROC (Joel Greenblatt) % was 152.29%. The lowest was 28.32%. And the median was 66.41%.
NSE:HAL's ROC (Joel Greenblatt) % is ranked better than 95.25% of 358
companies
in the Aerospace & Defense industry
Industry Median: 10.72
vs NSE:HAL: 137.98
Hindustan Aeronautics's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 25.20% 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.
Hindustan Aeronautics ROC (Joel Greenblatt) % Related Terms
Hindustan Aeronautics ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Hindustan Aeronautics'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:HAL vs SPCX, GE, RTX: ROC (Joel Greenblatt) % Comparison
For the Aerospace & Defense subindustry, Hindustan Aeronautics'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.
Hindustan Aeronautics ROC (Joel Greenblatt) % vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Hindustan Aeronautics's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hindustan Aeronautics'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 188.07% mean?
Hindustan Aeronautics (NSE:HAL) has a ROC (Joel Greenblatt) % of 188.07% 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 Hindustan Aeronautics and its competitors. This is 183% above median its historical median of 66.41. Over the past decade, Hindustan Aeronautics' ROC (Joel Greenblatt) % has ranged from 28.32 to 152.29. According to the industry distribution chart, Hindustan Aeronautics ranks #17 out of 358 companies in the Aerospace & Defense industry, placing it in the top 4.7%.
Is Hindustan Aeronautics' ROC (Joel Greenblatt) % too high?
Hindustan Aeronautics' current ROC (Joel Greenblatt) % of 188.07% is 183% above median its 10-year median of 66.41. Over the past 10 years, this metric has ranged from a low of 28.32 to a high of 152.29. The Aerospace & Defense industry median ROC (Joel Greenblatt) % is 10.72. Hindustan Aeronautics' value of 188.07% is 1654.4% above this industry median. Based on the distribution chart, Hindustan Aeronautics ranks #17 out of 358 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Hindustan Aeronautics has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hindustan Aeronautics' ROC (Joel Greenblatt) % compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Hindustan Aeronautics ranks #17 out of 358 companies for ROC (Joel Greenblatt) %. This places Hindustan Aeronautics in the top 5% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.72. Hindustan Aeronautics' value of 188.07% is 1654.4% above this benchmark. Historically, Hindustan Aeronautics' own ROC (Joel Greenblatt) % has ranged from 28.32 to 152.29 over the past decade. While the company's 10-year median is 66.41 vs. the industry median of 10.72, Hindustan Aeronautics 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 an Aerospace & Defense company?
The median ROC (Joel Greenblatt) % among Aerospace & Defense companies is 10.72, based on 358 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. Hindustan Aeronautics's current ROC (Joel Greenblatt) % of 188.07% is 1654.4% 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 Hindustan Aeronautics and its competitors. For the Aerospace & Defense industry, the median ROC (Joel Greenblatt) % is 10.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hindustan Aeronautics's current ROC (Joel Greenblatt) % is 188.07%, which is 183% above median its own 10-year median of 66.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hindustan Aeronautics stock overvalued right now?
Based on GuruFocus' analysis, Hindustan Aeronautics (NSE:HAL) is currently considered Fairly Valued. The stock's GF Value™ is ₹4,748.03, compared to a current price of ₹4,573.40 — trading 3.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 188.07%, which is 183% above median its 10-year median of 66.41 and 1654.4% above the Aerospace & Defense industry median of 10.72. Hindustan Aeronautics' overall GF Score™ is 93/100 with 4 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 Hindustan Aeronautics (NSE:HAL), the current ROC (Joel Greenblatt) % is 188.07% 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 Hindustan Aeronautics (NSE:HAL) Overvalued in 2026?
Based on GuruFocus' analysis, Hindustan Aeronautics stock appears to be undervalued.
The current stock price of ₹4,573.40 is trading 3.7% below its estimated GF Value™ of ₹4,748.03.
GuruFocus considers Hindustan Aeronautics to be Fairly Valued.
Key valuation signals for NSE:HAL:
ROC (Joel Greenblatt) %: 188.07% (183% above median its 10-year median of 66.41)
GF Value™: ₹4,748.03 vs. price of ₹4,573.40 (3.7% below fair value)
Industry Position: 1654.4% above the Aerospace & Defense median (#17 of 358)
No single metric tells the full story. See the NSE:HAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hindustan Aeronautics Ltd operates in the aerospace and defense sector. The company is engaged in the design, manufacturing, and development of products like aircraft, helicopters, systems and accessories, power plants, avionics, materials like castings, rolled rings, rubber products, and aerospace which include structures, tanks, and cryogenic engines. Geographically the company derives revenue from India and other countries, of which a majority of revenue is generated from India.
93GF Score
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