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ICRANSE:ICRA -0.53%86 ROC (Joel Greenblatt) % is 666.39% as of Jun. 2026, which is 62% above its 10-year median of 411.85. GuruFocus rates NSE:ICRA with a GF Score™ of 86/100 and a GF Value™ of ₹8,211.09 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 680 Capital Markets companies, ICRA ranks better than 87.79% 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. ICRA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 666.39%.
The historical rank and industry rank for ICRA's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:ICRA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 72.25 Med: 411.85 Max: 656.73
Current: 656.73
During the past 13 years, ICRA's highest ROC (Joel Greenblatt) % was 656.73%. The lowest was 72.25%. And the median was 411.85%.
NSE:ICRA's ROC (Joel Greenblatt) % is ranked better than 87.79% of 680
companies
in the Capital Markets industry
Industry Median: 34.285
vs NSE:ICRA: 656.73
ICRA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 19.00% per year.
ICRA (NSE:ICRA) 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 ICRA'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:ICRA vs SPGI, CME, ICE: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, ICRA'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.
ICRA ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ICRA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ICRA'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 (Jun. 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 666.39% mean?
ICRA (NSE:ICRA) has a ROC (Joel Greenblatt) % of 666.39% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on ICRA and its competitors. This is 62% above median its historical median of 411.85. Over the past decade, ICRA's ROC (Joel Greenblatt) % has ranged from 72.25 to 656.73. According to the industry distribution chart, ICRA ranks #83 out of 680 companies in the Capital Markets industry, placing it in the top 12.2%.
Is ICRA's ROC (Joel Greenblatt) % too high?
ICRA's current ROC (Joel Greenblatt) % of 666.39% is 62% above median its 10-year median of 411.85. Over the past 10 years, this metric has ranged from a low of 72.25 to a high of 656.73. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.29. ICRA's value of 666.39% is 1843.7% above this industry median. Based on the distribution chart, ICRA ranks #83 out of 680 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, ICRA has a GF Score™ of 86/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ICRA's ROC (Joel Greenblatt) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, ICRA ranks #83 out of 680 companies for ROC (Joel Greenblatt) %. This places ICRA in the top 12% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.29. ICRA's value of 666.39% is 1843.7% above this benchmark. Historically, ICRA's own ROC (Joel Greenblatt) % has ranged from 72.25 to 656.73 over the past decade. While the company's 10-year median is 411.85 vs. the industry median of 34.29, ICRA 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.29, based on 680 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. ICRA's current ROC (Joel Greenblatt) % of 666.39% is 1843.7% 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 ICRA and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICRA's current ROC (Joel Greenblatt) % is 666.39%, which is 62% above median its own 10-year median of 411.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICRA stock overvalued right now?
Based on GuruFocus' analysis, ICRA (NSE:ICRA) is currently considered Possible Value Trap. The stock's GF Value™ is ₹8,211.09, compared to a current price of ₹5,121.90 — trading 37.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 666.39%, which is 62% above median its 10-year median of 411.85 and 1843.7% above the Capital Markets industry median of 34.29. ICRA's overall GF Score™ is 86/100 with 1 warning sign 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 ICRA (NSE:ICRA), the current ROC (Joel Greenblatt) % is 666.39% as of Jun. 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 ICRA (NSE:ICRA) Overvalued in 2026?
Based on GuruFocus' analysis, ICRA stock appears to be undervalued.
The current stock price of ₹5,121.90 is trading 37.6% below its estimated GF Value™ of ₹8,211.09.
GuruFocus considers ICRA to be Possible Value Trap.
Key valuation signals for NSE:ICRA:
ROC (Joel Greenblatt) %: 666.39% (62% above median its 10-year median of 411.85)
GF Value™: ₹8,211.09 vs. price of ₹5,121.90 (37.6% below fair value)
Industry Position: 1843.7% above the Capital Markets median (#83 of 680)
No single metric tells the full story. See the NSE:ICRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ICRA Ltd is an independent and professional Investment Information and credit rating agency. The company operates through four segments: Rating, research, and other services; Consulting services; Knowledge and Market Services. The company generates over half of its revenue from the Rating, research and other services segment. Rating, research, and other services segment provides rating, grading, and industry research services. The consulting services segment provides management consulting which includes risk management, financial advisory, outsourcing, and policy advisory. The knowledge Services segment provides KPO services and the Market services segment provides financial information products and services. Geographically the majority of revenue is generated from within India.
86GF Score
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