Empire State Realty OP LPOGCP 60 ROC (Joel Greenblatt) % is 59.69% as of Mar. 2026, which is 32% below its 10-year median of 88.03. GuruFocus rates OGCP with a GF Scoreâ„¢ of 60/100 and a GF Valueâ„¢ of $9.25 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 589 REITs companies, Empire State Realty OP LP ranks worse than 58.91% 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. Empire State Realty OP LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 59.69%.
The historical rank and industry rank for Empire State Realty OP LP's ROC (Joel Greenblatt) % or its related term are showing as below:
OGCP'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 52.25 Med: 88.03 Max: 566.3
Current: 80.29
During the past 13 years, Empire State Realty OP LP's highest ROC (Joel Greenblatt) % was 566.30%. The lowest was 52.25%. And the median was 88.03%.
OGCP's ROC (Joel Greenblatt) % is ranked worse than 58.91% of 589
companies
in the REITs industry
Industry Median: 177.71
vs OGCP: 80.29
Empire State Realty OP LP's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -6.00% per year.
Empire State Realty OP LP (ARCA:OGCP) 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.
Empire State Realty OP LP ROC (Joel Greenblatt) % Related Terms
Empire State Realty OP LP ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Empire State Realty OP LP'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.
Empire State Realty OP LP ROC (Joel Greenblatt) % Chart
OGCP vs PDM, DEA, DEI: ROC (Joel Greenblatt) % Comparison
For the REIT - Office subindustry, Empire State Realty OP LP'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.
Empire State Realty OP LP ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Empire State Realty OP LP's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Empire State Realty OP LP's ROC (Joel Greenblatt) % falls into.
Empire State Realty OP LP 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 59.69% mean?
Empire State Realty OP LP (OGCP) has a ROC (Joel Greenblatt) % of 59.69% 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 Empire State Realty OP LP and its competitors. This is 32% below median its historical median of 88.03. Over the past decade, Empire State Realty OP LP's ROC (Joel Greenblatt) % has ranged from 52.25 to 566.30. According to the industry distribution chart, Empire State Realty OP LP ranks #347 out of 589 companies in the REITs industry, placing it in the top 58.9%.
Is Empire State Realty OP LP's ROC (Joel Greenblatt) % too high?
Empire State Realty OP LP's current ROC (Joel Greenblatt) % of 59.69% is 32% below median its 10-year median of 88.03. Over the past 10 years, this metric has ranged from a low of 52.25 to a high of 566.30. The REITs industry median ROC (Joel Greenblatt) % is 177.71. Empire State Realty OP LP's value of 59.69% is 66.4% below this industry median. Based on the distribution chart, Empire State Realty OP LP ranks #347 out of 589 companies in the REITs industry, which is below the industry midpoint. Overall, Empire State Realty OP LP has a GF Scoreâ„¢ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Empire State Realty OP LP's ROC (Joel Greenblatt) % compare to PDM and DEA?
According to the REITs industry distribution chart, Empire State Realty OP LP ranks #347 out of 589 companies for ROC (Joel Greenblatt) %. This places Empire State Realty OP LP in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 177.71. Empire State Realty OP LP's value of 59.69% is 66.4% below this benchmark. Historically, Empire State Realty OP LP's own ROC (Joel Greenblatt) % has ranged from 52.25 to 566.30 over the past decade. While the company's 10-year median is 88.03 vs. the industry median of 177.71, Empire State Realty OP LP 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 a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 177.71, based on 589 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. Empire State Realty OP LP's current ROC (Joel Greenblatt) % of 59.69% is 66.4% 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 Empire State Realty OP LP and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 177.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Empire State Realty OP LP's current ROC (Joel Greenblatt) % is 59.69%, which is 32% below median its own 10-year median of 88.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Empire State Realty OP LP stock overvalued right now?
Based on GuruFocus' analysis, Empire State Realty OP LP (OGCP) is currently considered Possible Value Trap. The stock's GF Value™ is $9.25, compared to a current price of $6.00 — trading 35.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 59.69%, which is 32% below median its 10-year median of 88.03 and 66.4% below the REITs industry median of 177.71. Empire State Realty OP LP's overall GF Score™ is 60/100 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 Empire State Realty OP LP (OGCP), the current ROC (Joel Greenblatt) % is 59.69% 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 Empire State Realty OP LP (OGCP) Overvalued in 2026?
Based on GuruFocus' analysis, Empire State Realty OP LP stock appears to be undervalued.
The current stock price of $6.00 is trading 35.2% below its estimated GF Value™ of $9.25.
GuruFocus considers Empire State Realty OP LP to be Possible Value Trap.
Key valuation signals for OGCP:
ROC (Joel Greenblatt) %: 59.69% (32% below median its 10-year median of 88.03)
GF Value™: $9.25 vs. price of $6.00 (35.2% below fair value)
Industry Position: 66.4% below the REITs median (#347 of 589)
No single metric tells the full story. See the OGCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Empire State Realty OP LP is an NYC-focused real estate investment trust (REIT) that owns and operates a portfolio of well-leased, top-of-tier, modernized, amenitized, and well-located office, retail, and multifamily assets, conducts all of its business, and owns substantially all of its assets. The firm operates in two segments, Real Estate and Observatory. Through the Real Estate segment, it offers services related to the ownership, management, operation, acquisition, repositioning, and disposition of its real estate assets. Under the Observatory segment, it operates the two observatories of the Empire State Building. The company generates maximum revenue from the Real Estate segment.
60GF Score
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