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. poLight ASA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -133.77%.
The historical rank and industry rank for poLight ASA's ROC (Joel Greenblatt) % or its related term are showing as below:
OSTO:PLTo'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -4378.22 Med: -911.2 Max: -155.16
Current: -161.11
During the past 12 years, poLight ASA's highest ROC (Joel Greenblatt) % was -155.16%. The lowest was -4378.22%. And the median was -911.20%.
OSTO:PLTo's ROC (Joel Greenblatt) % is ranked worse than 94.25% of 2487
companies
in the Hardware industry
Industry Median: 10.44
vs OSTO:PLTo: -161.11
poLight ASA's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 31.90% 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.
poLight ASA ROC (Joel Greenblatt) % Historical Data
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The historical data trend for poLight ASA'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.
OSTO:PLTO vs APH, GLW, TEL: ROC (Joel Greenblatt) % Comparison
For the Electronic Components subindustry, poLight ASA'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.
poLight ASA ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, poLight ASA's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where poLight ASA'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 -133.77% mean?
poLight ASA (OSTO:PLTO) has a ROC (Joel Greenblatt) % of -133.77% 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 poLight ASA and its competitors. According to the industry distribution chart, poLight ASA ranks #2344 out of 2487 companies in the Hardware industry, placing it in the top 94.3%.
Is poLight ASA's ROC (Joel Greenblatt) % too high?
poLight ASA's current ROC (Joel Greenblatt) % is -133.77%. Based on the distribution chart, poLight ASA ranks #2344 out of 2487 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, poLight ASA has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does poLight ASA's ROC (Joel Greenblatt) % compare to APH and GLW?
According to the Hardware industry distribution chart, poLight ASA ranks #2344 out of 2487 companies for ROC (Joel Greenblatt) %. This places poLight ASA in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.44. 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 10.44, based on 2,487 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 poLight ASA and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. poLight ASA's current ROC (Joel Greenblatt) % is -133.77%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is poLight ASA stock overvalued right now?
poLight ASA (OSTO:PLTO) has a current ROC (Joel Greenblatt) % of -133.77%. The stock's GF Value™ is kr2.34, compared to a current price of kr5.98 — trading 155.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is -133.77%. poLight ASA's overall GF Score™ is 44/100 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 poLight ASA (OSTO:PLTO), the current ROC (Joel Greenblatt) % is -133.77% 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 poLight ASA (OSTO:PLTO) Overvalued in 2026?
Based on GuruFocus' analysis, poLight ASA stock appears to be overvalued.
The current stock price of kr5.98 is trading 155.6% above its estimated GF Value™ of kr2.34.
Key valuation signals for OSTO:PLTO:
ROC (Joel Greenblatt) %: -133.77%
GF Value™: kr2.34 vs. price of kr5.98 (155.6% above fair value)
No single metric tells the full story. See the OSTO:PLTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
poLight ASA provides photographic lenses used in cameras for smartphones, wearables such as watches and glasses, and industrial applications including medical and retail. The company specializes in optics, polymers, micro-electromechanical systems technology, and image application and processing. Its products include Driver ASIC and TLens. The Group has only one operating segment the TLens technology platform. Its geographical segments are the United States, Asia, and Europe.
44GF Score
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