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Salem Media GroupSALM 35 ROC (Joel Greenblatt) % is -19.37% as of Jun. 2026. GuruFocus rates SALM with a GF Score™ of 35/100 and a GF Value™ of $0.40 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,014 Media - Diversified companies, Salem Media Group ranks worse than 70.91% 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. Salem Media Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -19.37%.
The historical rank and industry rank for Salem Media Group's ROC (Joel Greenblatt) % or its related term are showing as below:
SALM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -38 Med: 11.86 Max: 45.16
Current: -17.77
During the past 13 years, Salem Media Group's highest ROC (Joel Greenblatt) % was 45.16%. The lowest was -38.00%. And the median was 11.86%.
SALM's ROC (Joel Greenblatt) % is ranked worse than 70.91% of 1014
companies
in the Media - Diversified industry
Industry Median: 10.86
vs SALM: -17.77
Salem Media Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Salem Media Group (OTCPK:SALM) 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.
Salem Media Group ROC (Joel Greenblatt) % Related Terms
Salem Media Group ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Salem Media Group'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.
SALM vs BBGI, UONE, XHLD: ROC (Joel Greenblatt) % Comparison
For the Broadcasting subindustry, Salem Media Group'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.
Salem Media Group ROC (Joel Greenblatt) % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Salem Media Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Salem Media Group's ROC (Joel Greenblatt) % falls into.
Salem Media Group 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 -19.37% mean?
Salem Media Group (SALM) has a ROC (Joel Greenblatt) % of -19.37% 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 Salem Media Group and its competitors. According to the industry distribution chart, Salem Media Group ranks #719 out of 1014 companies in the Media - Diversified industry, placing it in the top 70.9%.
Is Salem Media Group's ROC (Joel Greenblatt) % too high?
Salem Media Group's current ROC (Joel Greenblatt) % is -19.37%. Based on the distribution chart, Salem Media Group ranks #719 out of 1014 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Salem Media Group has a GF Score™ of 35/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Salem Media Group's ROC (Joel Greenblatt) % compare to BBGI and UONE?
According to the Media - Diversified industry distribution chart, Salem Media Group ranks #719 out of 1014 companies for ROC (Joel Greenblatt) %. This places Salem Media Group in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.86. 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 Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 10.86, based on 1,014 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 Salem Media Group and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 10.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Salem Media Group's current ROC (Joel Greenblatt) % is -19.37%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Salem Media Group stock overvalued right now?
Based on GuruFocus' analysis, Salem Media Group (SALM) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.40, compared to a current price of $1.00 — trading 150% above its estimated fair value. The current ROC (Joel Greenblatt) % is -19.37%. Salem Media Group's overall GF Score™ is 35/100 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 Salem Media Group (SALM), the current ROC (Joel Greenblatt) % is -19.37% 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 Salem Media Group (SALM) Overvalued in 2026?
Based on GuruFocus' analysis, Salem Media Group stock appears to be overvalued.
The current stock price of $1.00 is trading 150% above its estimated GF Value™ of $0.40.
GuruFocus considers Salem Media Group to be Significantly Overvalued.
Key valuation signals for SALM:
ROC (Joel Greenblatt) %: -19.37%
GF Value™: $0.40 vs. price of $1.00 (150% above fair value)
No single metric tells the full story. See the SALM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Salem Media Group Inc is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. Its content is intended for audiences interested in Christian and family themed programming and conservative news talk. The company derives revenue from the sale of block program time to national and local program producers; the sale of advertising time on its radio stations to national and local advertisers; the sale of banner advertisements on websites or mobile applications; digital newsletters; fees earned for the creation of custom digital media campaigns; syndication of programming on its national network; product sales and royalties for on-air host materials, podcasts, programs and others.
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