Where Food Comes FromWFCF -8.25%78 ROC (Joel Greenblatt) % is 48.17% as of Mar. 2026, which is 22% below its 10-year median of 61.69. GuruFocus rates WFCF with a GF Score™ of 78/100 and a GF Value™ of $12.43 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,079 Business Services companies, Where Food Comes From ranks better than 80.91% 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. Where Food Comes From's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 48.17%.
The historical rank and industry rank for Where Food Comes From's ROC (Joel Greenblatt) % or its related term are showing as below:
WFCF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.96 Med: 61.69 Max: 102.76
Current: 102.76
During the past 13 years, Where Food Comes From's highest ROC (Joel Greenblatt) % was 102.76%. The lowest was 6.96%. And the median was 61.69%.
WFCF's ROC (Joel Greenblatt) % is ranked better than 80.91% of 1079
companies
in the Business Services industry
Industry Median: 20.89
vs WFCF: 102.76
Where Food Comes From's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 15.70% per year.
Where Food Comes From (NAS:WFCF) 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.
Where Food Comes From ROC (Joel Greenblatt) % Related Terms
Where Food Comes From ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Where Food Comes From'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.
Where Food Comes From ROC (Joel Greenblatt) % Chart
WFCF vs ANPA, DLHC, TISI: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, Where Food Comes From'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.
Where Food Comes From ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Where Food Comes From's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Where Food Comes From's ROC (Joel Greenblatt) % falls into.
Where Food Comes From 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 48.17% mean?
Where Food Comes From (WFCF) has a ROC (Joel Greenblatt) % of 48.17% 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 Where Food Comes From and its competitors. This is 22% below median its historical median of 61.69. Over the past decade, Where Food Comes From's ROC (Joel Greenblatt) % has ranged from 6.96 to 102.76. According to the industry distribution chart, Where Food Comes From ranks #206 out of 1079 companies in the Business Services industry, placing it in the top 19.1%.
Is Where Food Comes From's ROC (Joel Greenblatt) % too high?
Where Food Comes From's current ROC (Joel Greenblatt) % of 48.17% is 22% below median its 10-year median of 61.69. Over the past 10 years, this metric has ranged from a low of 6.96 to a high of 102.76. The Business Services industry median ROC (Joel Greenblatt) % is 20.89. Where Food Comes From's value of 48.17% is 130.6% above this industry median. Based on the distribution chart, Where Food Comes From ranks #206 out of 1079 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Where Food Comes From has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Where Food Comes From's ROC (Joel Greenblatt) % compare to ANPA and DLHC?
According to the Business Services industry distribution chart, Where Food Comes From ranks #206 out of 1079 companies for ROC (Joel Greenblatt) %. This places Where Food Comes From in the top 19% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 20.89. Where Food Comes From's value of 48.17% is 130.6% above this benchmark. Historically, Where Food Comes From's own ROC (Joel Greenblatt) % has ranged from 6.96 to 102.76 over the past decade. While the company's 10-year median is 61.69 vs. the industry median of 20.89, Where Food Comes From 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 20.89, based on 1,079 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. Where Food Comes From's current ROC (Joel Greenblatt) % of 48.17% is 130.6% 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 Where Food Comes From and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 20.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Where Food Comes From's current ROC (Joel Greenblatt) % is 48.17%, which is 22% below median its own 10-year median of 61.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Where Food Comes From stock overvalued right now?
Based on GuruFocus' analysis, Where Food Comes From (WFCF) is currently considered Modestly Overvalued. The stock's GF Value™ is $12.43, compared to a current price of $14.90 — trading 19.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 48.17%, which is 22% below median its 10-year median of 61.69 and 130.6% above the Business Services industry median of 20.89. Where Food Comes From's overall GF Score™ is 78/100 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 Where Food Comes From (WFCF), the current ROC (Joel Greenblatt) % is 48.17% 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 Where Food Comes From (WFCF) Overvalued in 2026?
Based on GuruFocus' analysis, Where Food Comes From stock appears to be overvalued.
The current stock price of $14.90 is trading 19.9% above its estimated GF Value™ of $12.43.
GuruFocus considers Where Food Comes From to be Modestly Overvalued.
Key valuation signals for WFCF:
ROC (Joel Greenblatt) %: 48.17% (22% below median its 10-year median of 61.69)
GF Value™: $12.43 vs. price of $14.90 (19.9% above fair value)
Industry Position: 130.6% above the Business Services median (#206 of 1079)
No single metric tells the full story. See the WFCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Where Food Comes From Inc is a third-party food verification company conducting both on-site and desk audits to verify that claims being made about livestock, food, other high-value specialty crops and agricultural and aquaculture products are accurate. The company supports farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, and restaurants with a wide variety of value-added services provided through its family of verifiers, including International Certification Services, Validus Verification Services, and others. It also provides a wide range of professional consulting services. It generates the majority of its revenue from Verification and certification services.
78GF Score
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