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Partners Group Holding AGSTU:P2H -1.82%73 ROC (Joel Greenblatt) % is 296.27% as of Dec. 2025, which is 45% below its 10-year median of 539.79. GuruFocus rates STU:P2H with a GF Score™ of 73/100 and a GF Value™ of €1,437.21 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 629 Asset Management companies, Partners Group Holding AG ranks better than 66.77% 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. Partners Group Holding AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 296.27%.
The historical rank and industry rank for Partners Group Holding AG's ROC (Joel Greenblatt) % or its related term are showing as below:
STU:P2H'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 261.61 Med: 539.79 Max: 1865.69
Current: 265.09
During the past 13 years, Partners Group Holding AG's highest ROC (Joel Greenblatt) % was 1865.69%. The lowest was 261.61%. And the median was 539.79%.
STU:P2H's ROC (Joel Greenblatt) % is ranked better than 66.77% of 629
companies
in the Asset Management industry
Industry Median: 63.35
vs STU:P2H: 265.09
Partners Group Holding AG's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -13.20% per year.
Partners Group Holding AG (STU:P2H) 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.
Partners Group Holding AG ROC (Joel Greenblatt) % Related Terms
Partners Group Holding AG ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Partners Group Holding AG'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.
Partners Group Holding AG ROC (Joel Greenblatt) % Chart
STU:P2H vs BLK, BX, KKR: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, Partners Group Holding AG'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.
Partners Group Holding AG ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Partners Group Holding AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Partners Group Holding AG's ROC (Joel Greenblatt) % falls into.
Partners Group Holding AG 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 two times the semi-annual (Dec. 2025) 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 296.27% mean?
Partners Group Holding AG (STU:P2H) has a ROC (Joel Greenblatt) % of 296.27% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Partners Group Holding AG and its competitors. This is 45% below median its historical median of 539.79. Over the past decade, Partners Group Holding AG's ROC (Joel Greenblatt) % has ranged from 261.61 to 1,865.69. According to the industry distribution chart, Partners Group Holding AG ranks #209 out of 629 companies in the Asset Management industry, placing it in the top 33.2%.
Is Partners Group Holding AG's ROC (Joel Greenblatt) % too high?
Partners Group Holding AG's current ROC (Joel Greenblatt) % of 296.27% is 45% below median its 10-year median of 539.79. Over the past 10 years, this metric has ranged from a low of 261.61 to a high of 1,865.69. The Asset Management industry median ROC (Joel Greenblatt) % is 63.35. Partners Group Holding AG's value of 296.27% is 367.7% above this industry median. Based on the distribution chart, Partners Group Holding AG ranks #209 out of 629 companies in the Asset Management industry, which is above the industry midpoint. Overall, Partners Group Holding AG has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Partners Group Holding AG's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Partners Group Holding AG ranks #209 out of 629 companies for ROC (Joel Greenblatt) %. This puts Partners Group Holding AG in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 63.35. Partners Group Holding AG's value of 296.27% is 367.7% above this benchmark. Historically, Partners Group Holding AG's own ROC (Joel Greenblatt) % has ranged from 261.61 to 1,865.69 over the past decade. While the company's 10-year median is 539.79 vs. the industry median of 63.35, Partners Group Holding AG 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 an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 63.35, based on 629 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. Partners Group Holding AG's current ROC (Joel Greenblatt) % of 296.27% is 367.7% 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 Partners Group Holding AG and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 63.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Partners Group Holding AG's current ROC (Joel Greenblatt) % is 296.27%, which is 45% below median its own 10-year median of 539.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Partners Group Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Partners Group Holding AG (STU:P2H) is currently considered Significantly Undervalued. The stock's GF Value™ is €1,437.21, compared to a current price of €721.80 — trading 49.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 296.27%, which is 45% below median its 10-year median of 539.79 and 367.7% above the Asset Management industry median of 63.35. Partners Group Holding AG's overall GF Score™ is 73/100 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 Partners Group Holding AG (STU:P2H), the current ROC (Joel Greenblatt) % is 296.27% as of Dec. 2025. 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 Partners Group Holding AG (STU:P2H) Overvalued in 2026?
Based on GuruFocus' analysis, Partners Group Holding AG stock appears to be undervalued.
The current stock price of €721.80 is trading 49.8% below its estimated GF Value™ of €1,437.21.
GuruFocus considers Partners Group Holding AG to be Significantly Undervalued.
Key valuation signals for STU:P2H:
ROC (Joel Greenblatt) %: 296.27% (45% below median its 10-year median of 539.79)
GF Value™: €1,437.21 vs. price of €721.80 (49.8% below fair value)
Industry Position: 367.7% above the Asset Management median (#209 of 629)
No single metric tells the full story. See the STU:P2H stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Partners Group is a Swiss-based global alternative asset manager founded in 1996. It manages funds invested in private equity, private credit, real estate, and infrastructure. Most of Partners Group's assets are invested in Europe and the Americas, with a smaller exposure to Asia and the Middle East. Partners Group operates a differentiated business model, offering bespoke client solutions through diversified portfolios tailored to each client individually, semiliquid open-ended funds, alongside traditional closed-end funds.
73GF Score
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