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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. Liberty Defense Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -1,636.68%.
The historical rank and industry rank for Liberty Defense Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
TSXV:SCAN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -4775.9 Med: -1162.23 Max: -187.32
Current: -1666.96
During the past 13 years, Liberty Defense Holdings's highest ROC (Joel Greenblatt) % was -187.32%. The lowest was -4775.90%. And the median was -1162.23%.
TSXV:SCAN's ROC (Joel Greenblatt) % is ranked worse than 98.33% of 1081
companies
in the Business Services industry
Industry Median: 21.22
vs TSXV:SCAN: -1666.96
Liberty Defense Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -28.00% per year.
Liberty Defense Holdings (TSXV:SCAN) 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.
Liberty Defense Holdings ROC (Joel Greenblatt) % Related Terms
Liberty Defense Holdings ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Liberty Defense 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.
Liberty Defense Holdings ROC (Joel Greenblatt) % Chart
TSXV:SCAN vs ALLE, MSA, ADT: ROC (Joel Greenblatt) % Comparison
For the Security & Protection Services subindustry, Liberty Defense 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.
Liberty Defense Holdings ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Liberty Defense Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Liberty Defense Holdings's ROC (Joel Greenblatt) % falls into.
Liberty Defense Holdings 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 -1,636.68% mean?
Liberty Defense Holdings (TSXV:SCAN) has a ROC (Joel Greenblatt) % of -1,636.68% 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 Liberty Defense Holdings and its competitors. According to the industry distribution chart, Liberty Defense Holdings ranks #1063 out of 1081 companies in the Business Services industry, placing it in the top 98.3%.
Is Liberty Defense Holdings' ROC (Joel Greenblatt) % too high?
Liberty Defense Holdings' current ROC (Joel Greenblatt) % is -1,636.68%. Based on the distribution chart, Liberty Defense Holdings ranks #1063 out of 1081 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Liberty Defense Holdings has a GF Score™ of 29/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Liberty Defense Holdings' ROC (Joel Greenblatt) % compare to ALLE and MSA?
According to the Business Services industry distribution chart, Liberty Defense Holdings ranks #1063 out of 1081 companies for ROC (Joel Greenblatt) %. This places Liberty Defense Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 21.22. 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 21.22, based on 1,081 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. 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 Liberty Defense Holdings and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 21.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Liberty Defense Holdings's current ROC (Joel Greenblatt) % is -1,636.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Liberty Defense Holdings stock overvalued right now?
Based on GuruFocus' analysis, Liberty Defense Holdings (TSXV:SCAN) is currently considered Possible Value Trap. The stock's GF Value™ is C$7.45, compared to a current price of C$4.70 — trading 36.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is -1,636.68%. Liberty Defense Holdings' overall GF Score™ is 29/100 with 6 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 Liberty Defense Holdings (TSXV:SCAN), the current ROC (Joel Greenblatt) % is -1,636.68% 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 Liberty Defense Holdings (TSXV:SCAN) Overvalued in 2026?
Based on GuruFocus' analysis, Liberty Defense Holdings stock appears to be undervalued.
The current stock price of C$4.70 is trading 36.9% below its estimated GF Value™ of C$7.45.
GuruFocus considers Liberty Defense Holdings to be Possible Value Trap.
Key valuation signals for TSXV:SCAN:
ROC (Joel Greenblatt) %: -1,636.68%
GF Value™: C$7.45 vs. price of C$4.70 (36.9% below fair value)
No single metric tells the full story. See the TSXV:SCAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Liberty Defense Holdings Ltd is engaged in the development and commercialization of security detection technologies such as airports, stadiums, schools, and more. The company's Hexwave product utilizes millimeter wave technology and Advanced 3D imaging to detect concealed threats. In addition to HEXWAVE, the company has licensed High-Definition Advanced Imaging Technology (HD-AIT) for body and shoe scanning. The Company operates through three distinct segments: Corporate, HEXWAVE, and Contract. The company generates the majority of its revenue from the Contract segment. Geographically, the company generates the majority of its revenue from the United States.
29GF Score
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