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Havas NVXAMS:HAVAS 19 ROC (Joel Greenblatt) % is 88.06% as of Dec. 2025, which is 62% above its 10-year median of 54.36. GuruFocus rates XAMS:HAVAS with a GF Score™ of 19/100. The stock has 7 warning signs investors should review. Among 1,018 Media - Diversified companies, Havas NV ranks better than 82.81% 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. Havas NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 88.06%.
The historical rank and industry rank for Havas NV's ROC (Joel Greenblatt) % or its related term are showing as below:
XAMS:HAVAS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 32.18 Med: 54.36 Max: 72.17
Current: 72.17
During the past 6 years, Havas NV's highest ROC (Joel Greenblatt) % was 72.17%. The lowest was 32.18%. And the median was 54.36%.
XAMS:HAVAS's ROC (Joel Greenblatt) % is ranked better than 82.81% of 1018
companies
in the Media - Diversified industry
Industry Median: 9.685
vs XAMS:HAVAS: 72.17
Havas NV's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Havas NV (XAMS:HAVAS) 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.
The historical data trend for Havas NV'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.
XAMS:HAVAS vs APP, OMC, TTD: ROC (Joel Greenblatt) % Comparison
For the Advertising Agencies subindustry, Havas NV'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.
Havas NV ROC (Joel Greenblatt) % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Havas NV's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Havas NV'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 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 88.06% mean?
Havas NV (XAMS:HAVAS) has a ROC (Joel Greenblatt) % of 88.06% 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 Havas NV and its competitors. This is 62% above median its historical median of 54.36. Over the past decade, Havas NV's ROC (Joel Greenblatt) % has ranged from 32.18 to 72.17. According to the industry distribution chart, Havas NV ranks #175 out of 1018 companies in the Media - Diversified industry, placing it in the top 17.2%.
Is Havas NV's ROC (Joel Greenblatt) % too high?
Havas NV's current ROC (Joel Greenblatt) % of 88.06% is 62% above median its 10-year median of 54.36. Over the past 10 years, this metric has ranged from a low of 32.18 to a high of 72.17. The Media - Diversified industry median ROC (Joel Greenblatt) % is 9.69. Havas NV's value of 88.06% is 809.2% above this industry median. Based on the distribution chart, Havas NV ranks #175 out of 1018 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Havas NV has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Havas NV's ROC (Joel Greenblatt) % compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Havas NV ranks #175 out of 1018 companies for ROC (Joel Greenblatt) %. This places Havas NV in the top 17% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.69. Havas NV's value of 88.06% is 809.2% above this benchmark. Historically, Havas NV's own ROC (Joel Greenblatt) % has ranged from 32.18 to 72.17 over the past decade. While the company's 10-year median is 54.36 vs. the industry median of 9.69, Havas NV 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 Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 9.69, based on 1,018 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. Havas NV's current ROC (Joel Greenblatt) % of 88.06% is 809.2% 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 Havas NV and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 9.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havas NV's current ROC (Joel Greenblatt) % is 88.06%, which is 62% above median its own 10-year median of 54.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Havas NV stock overvalued right now?
Havas NV (XAMS:HAVAS) has a current ROC (Joel Greenblatt) % of 88.06%. The current ROC (Joel Greenblatt) % is 88.06%, which is 62% above median its 10-year median of 54.36 and 809.2% above the Media - Diversified industry median of 9.69. Havas NV's overall GF Score™ is 19/100 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 Havas NV (XAMS:HAVAS), the current ROC (Joel Greenblatt) % is 88.06% 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.
Havas NV is a communications group providing integrated advertising, media, and healthcare-focused communication services. Its has three business lines: (i) Havas Creative, which delivers creative services, from advertising, brand strategy and business transformation to digital and social media solutions as well as public relations and events; (ii) Havas Media, which is dedicated to delivering comprehensive media experiences, through media planning and buying, fan engagement, retail media and e-commerce, as well as data analytics services to optimize client advertising investments; and (iii) Havas Health, which focuses on healthcare and wellness communications, providing specialized marketing services to pharmaceutical companies. The majority of revenue is derived from Havas Creative.
19GF Score
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