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Surgery PartnersSGRY -2.61%66 ROC (Joel Greenblatt) % is 14.01% as of Mar. 2026, which is 38% below its 10-year median of 22.54. GuruFocus rates SGRY with a GF Score™ of 66/100 and a GF Value™ of $26.81 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 666 Healthcare Providers & Services companies, Surgery Partners ranks better than 63.66% 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. Surgery Partners's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.01%.
The historical rank and industry rank for Surgery Partners's ROC (Joel Greenblatt) % or its related term are showing as below:
SGRY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 14.42 Med: 22.54 Max: 64.62
Current: 20.96
During the past 13 years, Surgery Partners's highest ROC (Joel Greenblatt) % was 64.62%. The lowest was 14.42%. And the median was 22.54%.
SGRY's ROC (Joel Greenblatt) % is ranked better than 63.66% of 666
companies
in the Healthcare Providers & Services industry
Industry Median: 12.485
vs SGRY: 20.96
Surgery Partners's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -2.70% per year.
Surgery Partners (NAS:SGRY) 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.
Surgery Partners ROC (Joel Greenblatt) % Related Terms
Surgery Partners ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Surgery Partners'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.
SGRY vs AVAH, ASTH, ADUS: ROC (Joel Greenblatt) % Comparison
For the Medical Care Facilities subindustry, Surgery Partners'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.
Surgery Partners ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Surgery Partners's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Surgery Partners's ROC (Joel Greenblatt) % falls into.
Surgery Partners 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 (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 14.01% mean?
Surgery Partners (SGRY) has a ROC (Joel Greenblatt) % of 14.01% 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 Surgery Partners and its competitors. This is 38% below median its historical median of 22.54. Over the past decade, Surgery Partners' ROC (Joel Greenblatt) % has ranged from 14.42 to 64.62. According to the industry distribution chart, Surgery Partners ranks #242 out of 666 companies in the Healthcare Providers & Services industry, placing it in the top 36.3%.
Is Surgery Partners' ROC (Joel Greenblatt) % too high?
Surgery Partners' current ROC (Joel Greenblatt) % of 14.01% is 38% below median its 10-year median of 22.54. Over the past 10 years, this metric has ranged from a low of 14.42 to a high of 64.62. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.49. Surgery Partners' value of 14.01% is 12.2% above this industry median. Based on the distribution chart, Surgery Partners ranks #242 out of 666 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Surgery Partners has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Surgery Partners' ROC (Joel Greenblatt) % compare to AVAH and ASTH?
According to the Healthcare Providers & Services industry distribution chart, Surgery Partners ranks #242 out of 666 companies for ROC (Joel Greenblatt) %. This puts Surgery Partners in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.49. Surgery Partners' value of 14.01% is 12.2% above this benchmark. Historically, Surgery Partners' own ROC (Joel Greenblatt) % has ranged from 14.42 to 64.62 over the past decade. While the company's 10-year median is 22.54 vs. the industry median of 12.49, Surgery Partners 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 Healthcare Providers & Services company?
The median ROC (Joel Greenblatt) % among Healthcare Providers & Services companies is 12.49, based on 666 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. Surgery Partners's current ROC (Joel Greenblatt) % of 14.01% is 12.2% 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 Surgery Partners and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Surgery Partners's current ROC (Joel Greenblatt) % is 14.01%, which is 38% below median its own 10-year median of 22.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Surgery Partners stock overvalued right now?
Based on GuruFocus' analysis, Surgery Partners (SGRY) is currently considered Possible Value Trap. The stock's GF Value™ is $26.81, compared to a current price of $14.92 — trading 44.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 14.01%, which is 38% below median its 10-year median of 22.54 and 12.2% above the Healthcare Providers & Services industry median of 12.49. Surgery Partners' overall GF Score™ is 66/100 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 Surgery Partners (SGRY), the current ROC (Joel Greenblatt) % is 14.01% 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 Surgery Partners (SGRY) Overvalued in 2026?
Based on GuruFocus' analysis, Surgery Partners stock appears to be undervalued.
The current stock price of $14.92 is trading 44.3% below its estimated GF Value™ of $26.81.
GuruFocus considers Surgery Partners to be Possible Value Trap.
Key valuation signals for SGRY:
ROC (Joel Greenblatt) %: 14.01% (38% below median its 10-year median of 22.54)
GF Value™: $26.81 vs. price of $14.92 (44.3% below fair value)
Industry Position: 12.2% above the Healthcare Providers & Services median (#242 of 666)
No single metric tells the full story. See the SGRY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Surgery Partners Inc is a healthcare services company with an integrated outpatient delivery model focused on providing quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. It has one reportable segment: Surgical Facilities, which includes the operation of ASCs, surgical hospitals, anesthesia services, and multi-specialty physician practices, which earn revenues from contracts with patients in which the performance obligations are to provide health care services.
66GF Score
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