OPAL FuelsOPAL -4.09%73 ROC (Joel Greenblatt) % is -3.70% as of Mar. 2026. GuruFocus rates OPAL with a GF Score™ of 73/100 and a GF Value™ of $3.97 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 504 Utilities - Regulated companies, OPAL Fuels ranks worse than 89.29% 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. OPAL Fuels's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3.70%.
The historical rank and industry rank for OPAL Fuels's ROC (Joel Greenblatt) % or its related term are showing as below:
OPAL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -25.82 Med: 11.48 Max: 41.01
Current: 1.59
During the past 7 years, OPAL Fuels's highest ROC (Joel Greenblatt) % was 41.01%. The lowest was -25.82%. And the median was 11.48%.
OPAL's ROC (Joel Greenblatt) % is ranked worse than 89.29% of 504
companies
in the Utilities - Regulated industry
Industry Median: 10.745
vs OPAL: 1.59
OPAL Fuels's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
OPAL Fuels ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for OPAL Fuels'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.
OPAL vs RGCO, ATO, NI: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Gas subindustry, OPAL Fuels'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.
OPAL Fuels ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, OPAL Fuels's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where OPAL Fuels'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 -3.70% mean?
OPAL Fuels (OPAL) has a ROC (Joel Greenblatt) % of -3.70% 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 OPAL Fuels and its competitors. According to the industry distribution chart, OPAL Fuels ranks #450 out of 504 companies in the Utilities - Regulated industry, placing it in the top 89.3%.
Is OPAL Fuels' ROC (Joel Greenblatt) % too high?
OPAL Fuels' current ROC (Joel Greenblatt) % is -3.70%. Based on the distribution chart, OPAL Fuels ranks #450 out of 504 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, OPAL Fuels has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does OPAL Fuels' ROC (Joel Greenblatt) % compare to RGCO and ATO?
According to the Utilities - Regulated industry distribution chart, OPAL Fuels ranks #450 out of 504 companies for ROC (Joel Greenblatt) %. This places OPAL Fuels in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.75. 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 Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.75, based on 504 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 OPAL Fuels and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. OPAL Fuels's current ROC (Joel Greenblatt) % is -3.70%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is OPAL Fuels stock overvalued right now?
Based on GuruFocus' analysis, OPAL Fuels (OPAL) is currently considered Possible Value Trap. The stock's GF Value™ is $3.97, compared to a current price of $2.12 — trading 46.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is -3.70%. OPAL Fuels' overall GF Score™ is 73/100 with 7 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 OPAL Fuels (OPAL), the current ROC (Joel Greenblatt) % is -3.70% 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 OPAL Fuels (OPAL) Overvalued in 2026?
Based on GuruFocus' analysis, OPAL Fuels stock appears to be undervalued.
The current stock price of $2.12 is trading 46.6% below its estimated GF Value™ of $3.97.
GuruFocus considers OPAL Fuels to be Possible Value Trap.
Key valuation signals for OPAL:
ROC (Joel Greenblatt) %: -3.70%
GF Value™: $3.97 vs. price of $2.12 (46.6% below fair value)
No single metric tells the full story. See the OPAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
OPAL Fuels Inc is a fully integrated leader in the capture and conversion of biogas into low-carbon-intensity renewable natural gas and Renewable Power. The company is also engaged in the marketing and distribution of RNG to heavy-duty trucking and other hard-to-decarbonize industrial sectors. The company designs, develops, constructs, operates, and services Fueling Stations for trucking fleets across the country that use natural gas to displace diesel as their transportation fuel. The company derives revenue from the sale of Renewable Power, design, development, construction, and service of Fueling Stations, and sales of RNG produced by OPAL and third parties as pipeline-quality natural gas. The Company has three operating segments: RNG Fuel, Fuel Station Services, and Renewable Power.
73GF Score
Get the complete analysis for OPAL
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
OPAL has been successfully added to your 
