Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Cboe Global MarketsSTU:C67 +0.39%88 ROC (Joel Greenblatt) % is 382.33% as of Jun. 2026, which is 21% below its 10-year median of 485.50. GuruFocus rates STU:C67 with a GF Score™ of 88/100 and a GF Value™ of €205.59 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 679 Capital Markets companies, Cboe Global Markets ranks better than 85.71% 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. Cboe Global Markets's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 382.33%.
The historical rank and industry rank for Cboe Global Markets's ROC (Joel Greenblatt) % or its related term are showing as below:
STU:C67'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 224.15 Med: 485.5 Max: 753.03
Current: 533.02
During the past 13 years, Cboe Global Markets's highest ROC (Joel Greenblatt) % was 753.03%. The lowest was 224.15%. And the median was 485.50%.
STU:C67's ROC (Joel Greenblatt) % is ranked better than 85.71% of 679
companies
in the Capital Markets industry
Industry Median: 34.48
vs STU:C67: 533.02
Cboe Global Markets's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.80% per year.
Cboe Global Markets (STU:C67) 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.
Cboe Global Markets ROC (Joel Greenblatt) % Related Terms
Cboe Global Markets ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Cboe Global Markets'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:C67 vs MSCI, COIN, TRU: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, Cboe Global Markets'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.
Cboe Global Markets ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Cboe Global Markets's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Cboe Global Markets's ROC (Joel Greenblatt) % falls into.
Cboe Global Markets 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 382.33% mean?
Cboe Global Markets (STU:C67) has a ROC (Joel Greenblatt) % of 382.33% 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 Cboe Global Markets and its competitors. This is 21% below median its historical median of 485.50. Over the past decade, Cboe Global Markets' ROC (Joel Greenblatt) % has ranged from 224.15 to 753.03. According to the industry distribution chart, Cboe Global Markets ranks #97 out of 679 companies in the Capital Markets industry, placing it in the top 14.3%.
Is Cboe Global Markets' ROC (Joel Greenblatt) % too high?
Cboe Global Markets' current ROC (Joel Greenblatt) % of 382.33% is 21% below median its 10-year median of 485.50. Over the past 10 years, this metric has ranged from a low of 224.15 to a high of 753.03. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.48. Cboe Global Markets' value of 382.33% is 1008.8% above this industry median. Based on the distribution chart, Cboe Global Markets ranks #97 out of 679 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Cboe Global Markets has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cboe Global Markets' ROC (Joel Greenblatt) % compare to MSCI and COIN?
According to the Capital Markets industry distribution chart, Cboe Global Markets ranks #97 out of 679 companies for ROC (Joel Greenblatt) %. This places Cboe Global Markets in the top 14% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.48. Cboe Global Markets' value of 382.33% is 1008.8% above this benchmark. Historically, Cboe Global Markets' own ROC (Joel Greenblatt) % has ranged from 224.15 to 753.03 over the past decade. While the company's 10-year median is 485.50 vs. the industry median of 34.48, Cboe Global Markets 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.48, based on 679 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. Cboe Global Markets's current ROC (Joel Greenblatt) % of 382.33% is 1008.8% 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 Cboe Global Markets and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cboe Global Markets's current ROC (Joel Greenblatt) % is 382.33%, which is 21% below median its own 10-year median of 485.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cboe Global Markets stock overvalued right now?
Based on GuruFocus' analysis, Cboe Global Markets (STU:C67) is currently considered Modestly Overvalued. The stock's GF Value™ is €205.59, compared to a current price of €255.80 — trading 24.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 382.33%, which is 21% below median its 10-year median of 485.50 and 1008.8% above the Capital Markets industry median of 34.48. Cboe Global Markets' overall GF Score™ is 88/100 with 1 warning sign 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 Cboe Global Markets (STU:C67), the current ROC (Joel Greenblatt) % is 382.33% 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 Cboe Global Markets (STU:C67) Overvalued in 2026?
Based on GuruFocus' analysis, Cboe Global Markets stock appears to be overvalued.
The current stock price of €255.80 is trading 24.4% above its estimated GF Value™ of €205.59.
GuruFocus considers Cboe Global Markets to be Modestly Overvalued.
Key valuation signals for STU:C67:
ROC (Joel Greenblatt) %: 382.33% (21% below median its 10-year median of 485.50)
GF Value™: €205.59 vs. price of €255.80 (24.4% above fair value)
Industry Position: 1008.8% above the Capital Markets median (#97 of 679)
No single metric tells the full story. See the STU:C67 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1973, Cboe controls the largest option exchange in the US, which provides around 60% of the firm's revenue. The company is best known for its proprietary S&P 500 and VIX index options, which it offers through an exclusive contract with S&P Global. The firm moved into US and European equities through the $3.4 billion acquisition of BATS in 2017. Cboe has continued to look to expand internationally, using acquisitions to build a presence in both Canada and Australia.
88GF Score
Get the complete analysis for STU:C67
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STU:C67 has been successfully added to your 
