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United BreweriesNSE:UBL +1.38%78 ROC (Joel Greenblatt) % is 13.29% as of Mar. 2026, which is 22% below its 10-year median of 16.99. GuruFocus rates NSE:UBL with a GF Score™ of 78/100 and a GF Value™ of ₹2,181.30 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 210 Beverages - Alcoholic companies, United Breweries ranks better than 58.57% 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. United Breweries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.29%.
The historical rank and industry rank for United Breweries's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:UBL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.11 Med: 16.99 Max: 31.68
Current: 15.69
During the past 13 years, United Breweries's highest ROC (Joel Greenblatt) % was 31.68%. The lowest was 6.11%. And the median was 16.99%.
NSE:UBL's ROC (Joel Greenblatt) % is ranked better than 58.57% of 210
companies
in the Beverages - Alcoholic industry
Industry Median: 12.215
vs NSE:UBL: 15.69
United Breweries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 13.50% per year.
United Breweries (NSE:UBL) 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.
United Breweries ROC (Joel Greenblatt) % Related Terms
United Breweries ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for United Breweries'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:UBL vs STZ, TAP: ROC (Joel Greenblatt) % Comparison
For the Beverages - Brewers subindustry, United Breweries'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.
United Breweries ROC (Joel Greenblatt) % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, United Breweries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where United Breweries's ROC (Joel Greenblatt) % falls into.
United Breweries ROC (Joel Greenblatt) % Calculation
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 13.29% mean?
United Breweries (NSE:UBL) has a ROC (Joel Greenblatt) % of 13.29% 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 United Breweries and its competitors. This is 22% below median its historical median of 16.99. Over the past decade, United Breweries' ROC (Joel Greenblatt) % has ranged from 6.11 to 31.68. According to the industry distribution chart, United Breweries ranks #87 out of 210 companies in the Beverages - Alcoholic industry, placing it in the top 41.4%.
Is United Breweries' ROC (Joel Greenblatt) % too high?
United Breweries' current ROC (Joel Greenblatt) % of 13.29% is 22% below median its 10-year median of 16.99. Over the past 10 years, this metric has ranged from a low of 6.11 to a high of 31.68. The Beverages - Alcoholic industry median ROC (Joel Greenblatt) % is 12.22. United Breweries' value of 13.29% is 8.8% above this industry median. Based on the distribution chart, United Breweries ranks #87 out of 210 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, United Breweries has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does United Breweries' ROC (Joel Greenblatt) % compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, United Breweries ranks #87 out of 210 companies for ROC (Joel Greenblatt) %. This puts United Breweries in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.22. United Breweries' value of 13.29% is 8.8% above this benchmark. Historically, United Breweries' own ROC (Joel Greenblatt) % has ranged from 6.11 to 31.68 over the past decade. While the company's 10-year median is 16.99 vs. the industry median of 12.22, United Breweries 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 Beverages - Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Alcoholic companies is 12.22, based on 210 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. United Breweries's current ROC (Joel Greenblatt) % of 13.29% is 8.8% 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 United Breweries and its competitors. For the Beverages - Alcoholic industry, the median ROC (Joel Greenblatt) % is 12.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Breweries's current ROC (Joel Greenblatt) % is 13.29%, which is 22% below median its own 10-year median of 16.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Breweries stock overvalued right now?
Based on GuruFocus' analysis, United Breweries (NSE:UBL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹2,181.30, compared to a current price of ₹1,438.40 — trading 34.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 13.29%, which is 22% below median its 10-year median of 16.99 and 8.8% above the Beverages - Alcoholic industry median of 12.22. United Breweries' overall GF Score™ is 78/100 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 United Breweries (NSE:UBL), the current ROC (Joel Greenblatt) % is 13.29% 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 United Breweries (NSE:UBL) Overvalued in 2026?
Based on GuruFocus' analysis, United Breweries stock appears to be undervalued.
The current stock price of ₹1,438.40 is trading 34.1% below its estimated GF Value™ of ₹2,181.30.
GuruFocus considers United Breweries to be Significantly Undervalued.
Key valuation signals for NSE:UBL:
ROC (Joel Greenblatt) %: 13.29% (22% below median its 10-year median of 16.99)
GF Value™: ₹2,181.30 vs. price of ₹1,438.40 (34.1% below fair value)
Industry Position: 8.8% above the Beverages - Alcoholic median (#87 of 210)
No single metric tells the full story. See the NSE:UBL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Breweries Ltd brews and sells beer and flavored malt beverages in India. The company has dozens of production facilities in India, and it licenses its brands to be manufactured in the United Kingdom, Australia, and New Zealand. The company's flagship brand is Kingfisher, which is prominent in India and is sold in dozens of countries around the world. It has two segments Beer and Non-alcoholic beverages. It derives the majority of its revenue from the Beer segment. The company's other brands include Bullet, Cannon 10000, Kalyani, UB Export, Zingaro, London Pilsner, and Heineken among others. Geographically, it derives key revenue from its business in India and the rest from other regions.
78GF Score
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