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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. Medicalgorithmics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -70.45%.
The historical rank and industry rank for Medicalgorithmics's ROC (Joel Greenblatt) % or its related term are showing as below:
WAR:MDG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -160.63 Med: -1.83 Max: 273.16
Current: -81.58
During the past 13 years, Medicalgorithmics's highest ROC (Joel Greenblatt) % was 273.16%. The lowest was -160.63%. And the median was -1.83%.
WAR:MDG's ROC (Joel Greenblatt) % is ranked worse than 74.34% of 838
companies
in the Medical Devices & Instruments industry
Industry Median: 4.415
vs WAR:MDG: -81.58
Medicalgorithmics'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.
Medicalgorithmics ROC (Joel Greenblatt) % Related Terms
Medicalgorithmics ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Medicalgorithmics'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.
WAR:MDG vs ABT, SYK, MDT: ROC (Joel Greenblatt) % Comparison
For the Medical Devices subindustry, Medicalgorithmics'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.
Medicalgorithmics ROC (Joel Greenblatt) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medicalgorithmics's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Medicalgorithmics'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 -70.45% mean?
Medicalgorithmics (WAR:MDG) has a ROC (Joel Greenblatt) % of -70.45% 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 Medicalgorithmics and its competitors. According to the industry distribution chart, Medicalgorithmics ranks #623 out of 838 companies in the Medical Devices & Instruments industry, placing it in the top 74.3%.
Is Medicalgorithmics' ROC (Joel Greenblatt) % too high?
Medicalgorithmics' current ROC (Joel Greenblatt) % is -70.45%. Based on the distribution chart, Medicalgorithmics ranks #623 out of 838 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Medicalgorithmics has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Medicalgorithmics' ROC (Joel Greenblatt) % compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Medicalgorithmics ranks #623 out of 838 companies for ROC (Joel Greenblatt) %. This places Medicalgorithmics in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 4.42. 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 Medical Devices & Instruments company?
The median ROC (Joel Greenblatt) % among Medical Devices & Instruments companies is 4.42, based on 838 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 Medicalgorithmics and its competitors. For the Medical Devices & Instruments industry, the median ROC (Joel Greenblatt) % is 4.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medicalgorithmics's current ROC (Joel Greenblatt) % is -70.45%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medicalgorithmics stock overvalued right now?
Based on GuruFocus' analysis, Medicalgorithmics (WAR:MDG) is currently considered Fairly Valued. The stock's GF Value™ is zł27.45, compared to a current price of zł26.60 — trading 3.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is -70.45%. Medicalgorithmics' overall GF Score™ is 72/100 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 Medicalgorithmics (WAR:MDG), the current ROC (Joel Greenblatt) % is -70.45% 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 Medicalgorithmics (WAR:MDG) Overvalued in 2026?
Based on GuruFocus' analysis, Medicalgorithmics stock appears to be undervalued.
The current stock price of zł26.60 is trading 3.1% below its estimated GF Value™ of zł27.45.
GuruFocus considers Medicalgorithmics to be Fairly Valued.
Key valuation signals for WAR:MDG:
ROC (Joel Greenblatt) %: -70.45%
GF Value™: zł27.45 vs. price of zł26.60 (3.1% below fair value)
No single metric tells the full story. See the WAR:MDG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Medicalgorithmics SA is a medical technology company. It is engaged in the development of Digital Signal Processing (DSP) algorithms development and software and hardware electronics design for medical applications. The company specializes in providing advance technological solutions in the field of cardiac diagnostics, with a particular focus on ECG signal analysis. The group concentrates on the production and development of its flagship product Pocket ECG - a system for remote monitoring of cardiac arrhythmias. The offered solutions include algorithms and diagnostic systems used in remote heart monitoring. The company operates in Poland, the USA, and other, with majority of revenue from the USA.
72GF Score
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