Race Eco ChainNSE:RACE -0.62%76 ROC (Joel Greenblatt) % is 18.45% as of Mar. 2026, which is 58% above its 10-year median of 11.70. GuruFocus rates NSE:RACE with a GF Score™ of 76/100 and a GF Value™ of ₹555.72 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 247 Waste Management companies, Race Eco Chain ranks better than 59.11% 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. Race Eco Chain's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.45%.
The historical rank and industry rank for Race Eco Chain's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:RACE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.09 Med: 11.7 Max: 17.65
Current: 16.28
During the past 13 years, Race Eco Chain's highest ROC (Joel Greenblatt) % was 17.65%. The lowest was 3.09%. And the median was 11.70%.
NSE:RACE's ROC (Joel Greenblatt) % is ranked better than 59.11% of 247
companies
in the Waste Management industry
Industry Median: 11.16
vs NSE:RACE: 16.28
Race Eco Chain's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.30% 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.
Race Eco Chain ROC (Joel Greenblatt) % Related Terms
Race Eco Chain ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Race Eco Chain'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:RACE vs WM, RSG, WCN: ROC (Joel Greenblatt) % Comparison
For the Waste Management subindustry, Race Eco Chain'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.
Race Eco Chain ROC (Joel Greenblatt) % vs Waste Management Industry
For the Waste Management industry and Industrials sector, Race Eco Chain's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Race Eco Chain'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 18.45% mean?
Race Eco Chain (NSE:RACE) has a ROC (Joel Greenblatt) % of 18.45% 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 Race Eco Chain and its competitors. This is 58% above median its historical median of 11.70. Over the past decade, Race Eco Chain's ROC (Joel Greenblatt) % has ranged from 3.09 to 17.65. According to the industry distribution chart, Race Eco Chain ranks #101 out of 247 companies in the Waste Management industry, placing it in the top 40.9%.
Is Race Eco Chain's ROC (Joel Greenblatt) % too high?
Race Eco Chain's current ROC (Joel Greenblatt) % of 18.45% is 58% above median its 10-year median of 11.70. Over the past 10 years, this metric has ranged from a low of 3.09 to a high of 17.65. The Waste Management industry median ROC (Joel Greenblatt) % is 11.16. Race Eco Chain's value of 18.45% is 65.3% above this industry median. Based on the distribution chart, Race Eco Chain ranks #101 out of 247 companies in the Waste Management industry, which is above the industry midpoint. Overall, Race Eco Chain has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Race Eco Chain's ROC (Joel Greenblatt) % compare to WM and RSG?
According to the Waste Management industry distribution chart, Race Eco Chain ranks #101 out of 247 companies for ROC (Joel Greenblatt) %. This puts Race Eco Chain in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.16. Race Eco Chain's value of 18.45% is 65.3% above this benchmark. Historically, Race Eco Chain's own ROC (Joel Greenblatt) % has ranged from 3.09 to 17.65 over the past decade. While the company's 10-year median is 11.70 vs. the industry median of 11.16, Race Eco Chain 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 Waste Management company?
The median ROC (Joel Greenblatt) % among Waste Management companies is 11.16, based on 247 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. Race Eco Chain's current ROC (Joel Greenblatt) % of 18.45% is 65.3% 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 Race Eco Chain and its competitors. For the Waste Management industry, the median ROC (Joel Greenblatt) % is 11.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Race Eco Chain's current ROC (Joel Greenblatt) % is 18.45%, which is 58% above median its own 10-year median of 11.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Race Eco Chain stock overvalued right now?
Based on GuruFocus' analysis, Race Eco Chain (NSE:RACE) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹555.72, compared to a current price of ₹111.30 — trading 80% below its estimated fair value. The current ROC (Joel Greenblatt) % is 18.45%, which is 58% above median its 10-year median of 11.70 and 65.3% above the Waste Management industry median of 11.16. Race Eco Chain's overall GF Score™ is 76/100 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 Race Eco Chain (NSE:RACE), the current ROC (Joel Greenblatt) % is 18.45% 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 Race Eco Chain (NSE:RACE) Overvalued in 2026?
Based on GuruFocus' analysis, Race Eco Chain stock appears to be undervalued.
The current stock price of ₹111.30 is trading 80% below its estimated GF Value™ of ₹555.72.
GuruFocus considers Race Eco Chain to be Significantly Undervalued.
Key valuation signals for NSE:RACE:
ROC (Joel Greenblatt) %: 18.45% (58% above median its 10-year median of 11.70)
GF Value™: ₹555.72 vs. price of ₹111.30 (80% below fair value)
Industry Position: 65.3% above the Waste Management median (#101 of 247)
No single metric tells the full story. See the NSE:RACE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Race Eco Chain Ltd is engaged in the collection and supply of recyclable waste to recyclers who eventually convert the waste into useful products. It is also involved in the manufacturing of recycled products. The company's segments are Recycle Division; Restore Division; Biomass Division and It Division. It generates the majority of its revenue from the Recycle Division.
76GF Score
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