Smith-MidlandSMID -2.55%90 ROC (Joel Greenblatt) % is 11.65% as of Mar. 2026, which is 43% below its 10-year median of 20.41. GuruFocus rates SMID with a GF Score™ of 90/100 and a GF Value™ of $42.89 (Significantly Undervalued). Among 408 Building Materials companies, Smith-Midland ranks better than 84.56% 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. Smith-Midland's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 11.65%.
The historical rank and industry rank for Smith-Midland's ROC (Joel Greenblatt) % or its related term are showing as below:
SMID'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.1 Med: 20.41 Max: 40.11
Current: 25.74
During the past 13 years, Smith-Midland's highest ROC (Joel Greenblatt) % was 40.11%. The lowest was 4.10%. And the median was 20.41%.
SMID's ROC (Joel Greenblatt) % is ranked better than 84.56% of 408
companies
in the Building Materials industry
Industry Median: 8.6
vs SMID: 25.74
Smith-Midland's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.80% 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.
Smith-Midland ROC (Joel Greenblatt) % Related Terms
Smith-Midland ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Smith-Midland'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.
SMID vs PHCI, RETO, BASA: ROC (Joel Greenblatt) % Comparison
For the Building Materials subindustry, Smith-Midland'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.
Smith-Midland ROC (Joel Greenblatt) % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Smith-Midland's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Smith-Midland'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 11.65% mean?
Smith-Midland (SMID) has a ROC (Joel Greenblatt) % of 11.65% 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 Smith-Midland and its competitors. This is 43% below median its historical median of 20.41. Over the past decade, Smith-Midland's ROC (Joel Greenblatt) % has ranged from 4.10 to 40.11. According to the industry distribution chart, Smith-Midland ranks #63 out of 408 companies in the Building Materials industry, placing it in the top 15.4%.
Is Smith-Midland's ROC (Joel Greenblatt) % too high?
Smith-Midland's current ROC (Joel Greenblatt) % of 11.65% is 43% below median its 10-year median of 20.41. Over the past 10 years, this metric has ranged from a low of 4.10 to a high of 40.11. The Building Materials industry median ROC (Joel Greenblatt) % is 8.60. Smith-Midland's value of 11.65% is 35.5% above this industry median. Based on the distribution chart, Smith-Midland ranks #63 out of 408 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Smith-Midland has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Smith-Midland's ROC (Joel Greenblatt) % compare to PHCI and RETO?
According to the Building Materials industry distribution chart, Smith-Midland ranks #63 out of 408 companies for ROC (Joel Greenblatt) %. This places Smith-Midland in the top 15% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.60. Smith-Midland's value of 11.65% is 35.5% above this benchmark. Historically, Smith-Midland's own ROC (Joel Greenblatt) % has ranged from 4.10 to 40.11 over the past decade. While the company's 10-year median is 20.41 vs. the industry median of 8.60, Smith-Midland 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 Building Materials company?
The median ROC (Joel Greenblatt) % among Building Materials companies is 8.60, based on 408 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. Smith-Midland's current ROC (Joel Greenblatt) % of 11.65% is 35.5% 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 Smith-Midland and its competitors. For the Building Materials industry, the median ROC (Joel Greenblatt) % is 8.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Smith-Midland's current ROC (Joel Greenblatt) % is 11.65%, which is 43% below median its own 10-year median of 20.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smith-Midland stock overvalued right now?
Based on GuruFocus' analysis, Smith-Midland (SMID) is currently considered Significantly Undervalued. The stock's GF Value™ is $42.89, compared to a current price of $29.38 — trading 31.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 11.65%, which is 43% below median its 10-year median of 20.41 and 35.5% above the Building Materials industry median of 8.60. Smith-Midland's overall GF Score™ is 90/100. 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 Smith-Midland (SMID), the current ROC (Joel Greenblatt) % is 11.65% 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 Smith-Midland (SMID) Overvalued in 2026?
Based on GuruFocus' analysis, Smith-Midland stock appears to be undervalued.
The current stock price of $29.38 is trading 31.5% below its estimated GF Value™ of $42.89.
GuruFocus considers Smith-Midland to be Significantly Undervalued.
Key valuation signals for SMID:
ROC (Joel Greenblatt) %: 11.65% (43% below median its 10-year median of 20.41)
GF Value™: $42.89 vs. price of $29.38 (31.5% below fair value)
Industry Position: 35.5% above the Building Materials median (#63 of 408)
No single metric tells the full story. See the SMID stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smith-Midland Corp through its subsidiaries invents, develops, manufactures, markets, sells, and installs precast concrete products for primary use in the construction, highway, utilities, and farming industries. The firm's customers are general contractors and federal, state, and local transportation authorities. Its products include Slenderwall, JJhooks, Softsound, Sierra Wall and Easi set. A substantial portion of the company's business is derived from local, state, and federal building projects. The company generates revenues predominantly from the sale, leasing, licensing, shipping, and installation of precast concrete products for the construction, utility, and farming industries.
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