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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. Icelandair Group hf's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -9.11%.
The historical rank and industry rank for Icelandair Group hf's ROC (Joel Greenblatt) % or its related term are showing as below:
OISE:ICEAIR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -59.94 Med: 2.27 Max: 24.63
Current: -1.16
During the past 13 years, Icelandair Group hf's highest ROC (Joel Greenblatt) % was 24.63%. The lowest was -59.94%. And the median was 2.27%.
OISE:ICEAIR's ROC (Joel Greenblatt) % is ranked worse than 87.29% of 999
companies
in the Transportation industry
Industry Median: 11.71
vs OISE:ICEAIR: -1.16
Icelandair Group hf's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Icelandair Group hf (OISE:ICEAIR) 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.
Icelandair Group hf ROC (Joel Greenblatt) % Related Terms
Icelandair Group hf ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Icelandair Group hf'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.
OISE:ICEAIR vs DAL, UAL, LUV: ROC (Joel Greenblatt) % Comparison
For the Airlines subindustry, Icelandair Group hf'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.
Icelandair Group hf ROC (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, Icelandair Group hf's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Icelandair Group hf's ROC (Joel Greenblatt) % falls into.
Icelandair Group hf 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 (Jun. 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 -9.11% mean?
Icelandair Group hf (OISE:ICEAIR) has a ROC (Joel Greenblatt) % of -9.11% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Icelandair Group hf and its competitors. According to the industry distribution chart, Icelandair Group hf ranks #872 out of 999 companies in the Transportation industry, placing it in the top 87.3%.
Is Icelandair Group hf's ROC (Joel Greenblatt) % too high?
Icelandair Group hf's current ROC (Joel Greenblatt) % is -9.11%. Based on the distribution chart, Icelandair Group hf ranks #872 out of 999 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Icelandair Group hf has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Icelandair Group hf's ROC (Joel Greenblatt) % compare to DAL and UAL?
According to the Transportation industry distribution chart, Icelandair Group hf ranks #872 out of 999 companies for ROC (Joel Greenblatt) %. This places Icelandair Group hf in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.71. 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 Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.71, based on 999 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. 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 Icelandair Group hf and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Icelandair Group hf's current ROC (Joel Greenblatt) % is -9.11%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Icelandair Group hf stock overvalued right now?
Based on GuruFocus' analysis, Icelandair Group hf (OISE:ICEAIR) is currently considered Possible Value Trap. The stock's GF Value™ is kr1.32, compared to a current price of kr0.71 — trading 45.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is -9.11%. Icelandair Group hf's overall GF Score™ is 56/100 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 Icelandair Group hf (OISE:ICEAIR), the current ROC (Joel Greenblatt) % is -9.11% as of Jun. 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 Icelandair Group hf (OISE:ICEAIR) Overvalued in 2026?
Based on GuruFocus' analysis, Icelandair Group hf stock appears to be undervalued.
The current stock price of kr0.71 is trading 45.9% below its estimated GF Value™ of kr1.32.
GuruFocus considers Icelandair Group hf to be Possible Value Trap.
Key valuation signals for OISE:ICEAIR:
ROC (Joel Greenblatt) %: -9.11%
GF Value™: kr1.32 vs. price of kr0.71 (45.9% below fair value)
No single metric tells the full story. See the OISE:ICEAIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Icelandair Group hf operates in the international airline sector. Its segment is the Route network, which generates maximum revenue and provides passenger air travel to, from, via, and within Iceland. The Cargo operation offers air-freight services to, from, via, and within Iceland by utilizing capacity within the aircraft of the Icelandair passenger network as well as its own freighter and The Leasing operation, provided by Loftleioir-Icelandic ehf., offers aircraft leasing and consulting services to international passenger airlines and tour operators. The Group operates in North America, which generates maximum revenue, as well as Europe, Iceland, and other regions.
56GF Score
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