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STEL HoldingsNSE:STEL -2.11%83 ROC (Joel Greenblatt) % is 22.46% as of Mar. 2026, which is 98% below its 10-year median of 1,014.40. GuruFocus rates NSE:STEL with a GF Score™ of 83/100 and a GF Value™ of ₹538.27 (Fairly Valued). The stock has 6 warning signs investors should review. Among 629 Asset Management companies, STEL Holdings ranks better than 91.1% 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. STEL Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 22.46%.
The historical rank and industry rank for STEL Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:STEL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -101.75 Med: 1014.4 Max: 3578.71
Current: 3578.71
During the past 13 years, STEL Holdings's highest ROC (Joel Greenblatt) % was 3578.71%. The lowest was -101.75%. And the median was 1014.40%.
NSE:STEL's ROC (Joel Greenblatt) % is ranked better than 91.1% of 629
companies
in the Asset Management industry
Industry Median: 63.35
vs NSE:STEL: 3578.71
STEL Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 37.70% 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.
STEL Holdings ROC (Joel Greenblatt) % Related Terms
STEL Holdings ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for STEL Holdings'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:STEL vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, STEL Holdings'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.
STEL Holdings ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, STEL Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where STEL Holdings'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 22.46% mean?
STEL Holdings (NSE:STEL) has a ROC (Joel Greenblatt) % of 22.46% 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 STEL Holdings and its competitors. This is 98% below median its historical median of 1,014.40. According to the industry distribution chart, STEL Holdings ranks #56 out of 629 companies in the Asset Management industry, placing it in the top 8.9%.
Is STEL Holdings' ROC (Joel Greenblatt) % too high?
STEL Holdings' current ROC (Joel Greenblatt) % of 22.46% is 98% below median its 10-year median of 1,014.40. The Asset Management industry median ROC (Joel Greenblatt) % is 63.35. STEL Holdings' value of 22.46% is 64.5% below this industry median. Based on the distribution chart, STEL Holdings ranks #56 out of 629 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, STEL Holdings has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does STEL Holdings' ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, STEL Holdings ranks #56 out of 629 companies for ROC (Joel Greenblatt) %. This places STEL Holdings in the top 9% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 63.35. STEL Holdings' value of 22.46% is 64.5% below this benchmark. While the company's 10-year median is 1,014.40 vs. the industry median of 63.35, STEL Holdings 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 an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.35, based on 629 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. STEL Holdings's current ROC (Joel Greenblatt) % of 22.46% is 64.5% 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 STEL Holdings and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. STEL Holdings's current ROC (Joel Greenblatt) % is 22.46%, which is 98% below median its own 10-year median of 1,014.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is STEL Holdings stock overvalued right now?
Based on GuruFocus' analysis, STEL Holdings (NSE:STEL) is currently considered Fairly Valued. The stock's GF Value™ is ₹538.27, compared to a current price of ₹541.75 — trading 0.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 22.46%, which is 98% below median its 10-year median of 1,014.40 and 64.5% below the Asset Management industry median of 63.35. STEL Holdings' overall GF Score™ is 83/100 with 6 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 STEL Holdings (NSE:STEL), the current ROC (Joel Greenblatt) % is 22.46% 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 STEL Holdings (NSE:STEL) Overvalued in 2026?
Based on GuruFocus' analysis, STEL Holdings stock appears to be overvalued.
The current stock price of ₹541.75 is trading 0.6% above its estimated GF Value™ of ₹538.27.
GuruFocus considers STEL Holdings to be Fairly Valued.
Key valuation signals for NSE:STEL:
ROC (Joel Greenblatt) %: 22.46% (98% below median its 10-year median of 1,014.40)
GF Value™: ₹538.27 vs. price of ₹541.75 (0.6% above fair value)
Industry Position: 64.5% below the Asset Management median (#56 of 629)
No single metric tells the full story. See the NSE:STEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
STEL Holdings Ltd is an investment company. Principally, it is engaged in the activities of holding companies. The company's income consists of dividends, interest, and income from the disposal of investments.
83GF Score
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