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VoltasNSE:VOLTAS +4.88%88 ROC (Joel Greenblatt) % is 80.28% as of Mar. 2026, which is 43% below its 10-year median of 141.65. GuruFocus rates NSE:VOLTAS with a GF Score™ of 88/100 and a GF Value™ of ₹1,445.25 (Fairly Valued). The stock has 6 warning signs investors should review. Among 432 Furnishings, Fixtures & Appliances companies, Voltas ranks better than 90.74% 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. Voltas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 80.28%.
The historical rank and industry rank for Voltas's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:VOLTAS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 48.56 Med: 141.65 Max: 372.78
Current: 48.56
During the past 13 years, Voltas's highest ROC (Joel Greenblatt) % was 372.78%. The lowest was 48.56%. And the median was 141.65%.
NSE:VOLTAS's ROC (Joel Greenblatt) % is ranked better than 90.74% of 432
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 9.4
vs NSE:VOLTAS: 48.56
Voltas's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -9.20% 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.
The historical data trend for Voltas'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:VOLTAS vs SN, SGI, MHK: ROC (Joel Greenblatt) % Comparison
For the Furnishings, Fixtures & Appliances subindustry, Voltas'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.
Voltas ROC (Joel Greenblatt) % vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Voltas's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Voltas'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 80.28% mean?
Voltas (NSE:VOLTAS) has a ROC (Joel Greenblatt) % of 80.28% 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 Voltas and its competitors. This is 43% below median its historical median of 141.65. Over the past decade, Voltas' ROC (Joel Greenblatt) % has ranged from 48.56 to 372.78. According to the industry distribution chart, Voltas ranks #40 out of 432 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 9.3%.
Is Voltas' ROC (Joel Greenblatt) % too high?
Voltas' current ROC (Joel Greenblatt) % of 80.28% is 43% below median its 10-year median of 141.65. Over the past 10 years, this metric has ranged from a low of 48.56 to a high of 372.78. The Furnishings, Fixtures & Appliances industry median ROC (Joel Greenblatt) % is 9.40. Voltas' value of 80.28% is 754% above this industry median. Based on the distribution chart, Voltas ranks #40 out of 432 companies in the Furnishings, Fixtures & Appliances industry, which is in the top quartile — a strong position relative to peers. Overall, Voltas has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Voltas' ROC (Joel Greenblatt) % compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Voltas ranks #40 out of 432 companies for ROC (Joel Greenblatt) %. This places Voltas in the top 9% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.40. Voltas' value of 80.28% is 754% above this benchmark. Historically, Voltas' own ROC (Joel Greenblatt) % has ranged from 48.56 to 372.78 over the past decade. While the company's 10-year median is 141.65 vs. the industry median of 9.40, Voltas 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 Furnishings, Fixtures & Appliances company?
The median ROC (Joel Greenblatt) % among Furnishings, Fixtures & Appliances companies is 9.40, based on 432 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. Voltas's current ROC (Joel Greenblatt) % of 80.28% is 754% 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 Voltas and its competitors. For the Furnishings, Fixtures & Appliances industry, the median ROC (Joel Greenblatt) % is 9.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Voltas's current ROC (Joel Greenblatt) % is 80.28%, which is 43% below median its own 10-year median of 141.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Voltas stock overvalued right now?
Based on GuruFocus' analysis, Voltas (NSE:VOLTAS) is currently considered Fairly Valued. The stock's GF Value™ is ₹1,445.25, compared to a current price of ₹1,349.50 — trading 6.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 80.28%, which is 43% below median its 10-year median of 141.65 and 754% above the Furnishings, Fixtures & Appliances industry median of 9.40. Voltas' overall GF Score™ is 88/100 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 Voltas (NSE:VOLTAS), the current ROC (Joel Greenblatt) % is 80.28% 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 Voltas (NSE:VOLTAS) Overvalued in 2026?
Based on GuruFocus' analysis, Voltas stock appears to be undervalued.
The current stock price of ₹1,349.50 is trading 6.6% below its estimated GF Value™ of ₹1,445.25.
GuruFocus considers Voltas to be Fairly Valued.
Key valuation signals for NSE:VOLTAS:
ROC (Joel Greenblatt) %: 80.28% (43% below median its 10-year median of 141.65)
GF Value™: ₹1,445.25 vs. price of ₹1,349.50 (6.6% below fair value)
Industry Position: 754% above the Furnishings, Fixtures & Appliances median (#40 of 432)
No single metric tells the full story. See the NSE:VOLTAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Voltas Ltd is one of India's air conditioning companies. It provides engineering solutions for heating, ventilation, and air conditioning, refrigeration, textile machinery, and heavy equipment. Voltas has three operating segments: Unitary Cooling Products for Comfort and Commercial use, Engineering Products and Services, and Electro-Mechanical Projects and Services. The majority of its revenue is generated from the Unitary Cooling Products for Comfort and Commercial use segment. Remote monitoring and maintenance systems keep track of performance and strengthen relationships with customers. The majority of revenue comes from India, with the remainder split among the Middle East, Singapore, and other regions.
88GF Score
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