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Pandora ASPNDZF 71 ROC (Joel Greenblatt) % is 65.44% as of Mar. 2026, which is 44% below its 10-year median of 117.21. GuruFocus rates PNDZF with a GF Score™ of 71/100 and a GF Value™ of $167.00 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,126 Retail - Cyclical companies, Pandora AS ranks better than 93.34% 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. Pandora AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 65.44%.
The historical rank and industry rank for Pandora AS's ROC (Joel Greenblatt) % or its related term are showing as below:
PNDZF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 45.5 Med: 117.21 Max: 453.22
Current: 86.94
During the past 13 years, Pandora AS's highest ROC (Joel Greenblatt) % was 453.22%. The lowest was 45.50%. And the median was 117.21%.
PNDZF's ROC (Joel Greenblatt) % is ranked better than 93.34% of 1126
companies
in the Retail - Cyclical industry
Industry Median: 11.57
vs PNDZF: 86.94
Pandora AS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.10% per year.
Pandora AS (OTCPK:PNDZF) 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.
Pandora AS ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Pandora AS'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.
PNDZF vs TPR, SIG, CPRI: ROC (Joel Greenblatt) % Comparison
For the Luxury Goods subindustry, Pandora AS'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.
Pandora AS ROC (Joel Greenblatt) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Pandora AS's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Pandora AS'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 65.44% mean?
Pandora AS (PNDZF) has a ROC (Joel Greenblatt) % of 65.44% 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 Pandora AS and its competitors. This is 44% below median its historical median of 117.21. Over the past decade, Pandora AS's ROC (Joel Greenblatt) % has ranged from 45.50 to 453.22. According to the industry distribution chart, Pandora AS ranks #75 out of 1126 companies in the Retail - Cyclical industry, placing it in the top 6.7%.
Is Pandora AS's ROC (Joel Greenblatt) % too high?
Pandora AS's current ROC (Joel Greenblatt) % of 65.44% is 44% below median its 10-year median of 117.21. Over the past 10 years, this metric has ranged from a low of 45.50 to a high of 453.22. The Retail - Cyclical industry median ROC (Joel Greenblatt) % is 11.57. Pandora AS's value of 65.44% is 465.6% above this industry median. Based on the distribution chart, Pandora AS ranks #75 out of 1126 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Pandora AS has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pandora AS's ROC (Joel Greenblatt) % compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, Pandora AS ranks #75 out of 1126 companies for ROC (Joel Greenblatt) %. This places Pandora AS in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.57. Pandora AS's value of 65.44% is 465.6% above this benchmark. Historically, Pandora AS's own ROC (Joel Greenblatt) % has ranged from 45.50 to 453.22 over the past decade. While the company's 10-year median is 117.21 vs. the industry median of 11.57, Pandora AS 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 Retail - Cyclical company?
The median ROC (Joel Greenblatt) % among Retail - Cyclical companies is 11.57, based on 1,126 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. Pandora AS's current ROC (Joel Greenblatt) % of 65.44% is 465.6% 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 Pandora AS and its competitors. For the Retail - Cyclical industry, the median ROC (Joel Greenblatt) % is 11.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pandora AS's current ROC (Joel Greenblatt) % is 65.44%, which is 44% below median its own 10-year median of 117.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pandora AS stock overvalued right now?
Based on GuruFocus' analysis, Pandora AS (PNDZF) is currently considered Significantly Undervalued. The stock's GF Value™ is $167.00, compared to a current price of $109.00 — trading 34.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 65.44%, which is 44% below median its 10-year median of 117.21 and 465.6% above the Retail - Cyclical industry median of 11.57. Pandora AS's overall GF Score™ is 71/100 with 2 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 Pandora AS (PNDZF), the current ROC (Joel Greenblatt) % is 65.44% 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 Pandora AS (PNDZF) Overvalued in 2026?
Based on GuruFocus' analysis, Pandora AS stock appears to be undervalued.
The current stock price of $109.00 is trading 34.7% below its estimated GF Value™ of $167.00.
GuruFocus considers Pandora AS to be Significantly Undervalued.
Key valuation signals for PNDZF:
ROC (Joel Greenblatt) %: 65.44% (44% below median its 10-year median of 117.21)
GF Value™: $167.00 vs. price of $109.00 (34.7% below fair value)
Industry Position: 465.6% above the Retail - Cyclical median (#75 of 1126)
No single metric tells the full story. See the PNDZF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,700 concept stores globally (2,000 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for over 80% and wholesale for the remainder. Charms and bracelets account for almost three-fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.
71GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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