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Affirm HoldingsSTU:78P 82 ROC (Joel Greenblatt) % is 59.08% as of Mar. 2026. GuruFocus rates STU:78P with a GF Score™ of 82/100. The stock has 7 warning signs investors should review. Among 414 Credit Services companies, Affirm Holdings ranks better than 55.07% 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. Affirm Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 59.08%.
The historical rank and industry rank for Affirm Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
STU:78P'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -126.44 Med: -92.38 Max: 41.94
Current: 60.53
During the past 7 years, Affirm Holdings's highest ROC (Joel Greenblatt) % was 41.94%. The lowest was -126.44%. And the median was -92.38%.
STU:78P's ROC (Joel Greenblatt) % is ranked better than 55.07% of 414
companies
in the Credit Services industry
Industry Median: 38.59
vs STU:78P: 60.53
Affirm Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% 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.
Affirm Holdings ROC (Joel Greenblatt) % Related Terms
Affirm Holdings ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Affirm Holdings'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.
STU:78P vs SYF, SOFI, ALLY: ROC (Joel Greenblatt) % Comparison
For the Credit Services subindustry, Affirm Holdings'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.
Affirm Holdings ROC (Joel Greenblatt) % vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Affirm Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Affirm Holdings'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 59.08% mean?
Affirm Holdings (STU:78P) has a ROC (Joel Greenblatt) % of 59.08% 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 Affirm Holdings and its competitors. According to the industry distribution chart, Affirm Holdings ranks #186 out of 414 companies in the Credit Services industry, placing it in the top 44.9%.
Is Affirm Holdings' ROC (Joel Greenblatt) % too high?
Affirm Holdings' current ROC (Joel Greenblatt) % is 59.08%. The Credit Services industry median ROC (Joel Greenblatt) % is 38.59. Affirm Holdings' value of 59.08% is 53.1% above this industry median. Based on the distribution chart, Affirm Holdings ranks #186 out of 414 companies in the Credit Services industry, which is above the industry midpoint. Overall, Affirm Holdings has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Affirm Holdings' ROC (Joel Greenblatt) % compare to SYF and SOFI?
According to the Credit Services industry distribution chart, Affirm Holdings ranks #186 out of 414 companies for ROC (Joel Greenblatt) %. This puts Affirm Holdings in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 38.59. Affirm Holdings' value of 59.08% is 53.1% above this benchmark. 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 Credit Services company?
The median ROC (Joel Greenblatt) % among Credit Services companies is 38.59, based on 414 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. Affirm Holdings's current ROC (Joel Greenblatt) % of 59.08% is 53.1% 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 Affirm Holdings and its competitors. For the Credit Services industry, the median ROC (Joel Greenblatt) % is 38.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affirm Holdings's current ROC (Joel Greenblatt) % is 59.08%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Affirm Holdings stock overvalued right now?
Affirm Holdings (STU:78P) has a current ROC (Joel Greenblatt) % of 59.08%. The current ROC (Joel Greenblatt) % is 59.08% and 53.1% above the Credit Services industry median of 38.59. Affirm Holdings' overall GF Score™ is 82/100 with 7 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 Affirm Holdings (STU:78P), the current ROC (Joel Greenblatt) % is 59.08% 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.
Founded in 2012, Affirm is a market leader in the buy now, pay later space with around $36 billion in transaction volume in fiscal 2025. Affirm offers both zero-interest financing, which is merchant subsidized, and interest-bearing loans, which function as personal loans that are approved on a per-transaction basis. Over 70% of Affirm's transaction volume comes from its interest-bearing loans, which also constitute the majority of its revenue. Affirm primarily operates in the United States, which accounted for more than 95% of its revenue in 2025, but it has also expanded to Canada and the United Kingdom.
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