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Tecnicas ReunidasXMAD:TRE -1.37%65 ROC (Joel Greenblatt) % is 75.35% as of Mar. 2026, which is 46% below its 10-year median of 139.61. GuruFocus rates XMAD:TRE with a GF Score™ of 65/100 and a GF Value™ of €19.86 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,782 Construction companies, Tecnicas Reunidas ranks better than 92.82% 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. Tecnicas Reunidas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 75.35%.
The historical rank and industry rank for Tecnicas Reunidas's ROC (Joel Greenblatt) % or its related term are showing as below:
XMAD:TRE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -274.24 Med: 139.61 Max: 314.3
Current: 180.57
During the past 13 years, Tecnicas Reunidas's highest ROC (Joel Greenblatt) % was 314.30%. The lowest was -274.24%. And the median was 139.61%.
XMAD:TRE's ROC (Joel Greenblatt) % is ranked better than 92.82% of 1782
companies
in the Construction industry
Industry Median: 19.56
vs XMAD:TRE: 180.57
Tecnicas Reunidas'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.
Tecnicas Reunidas ROC (Joel Greenblatt) % Related Terms
Tecnicas Reunidas ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Tecnicas Reunidas'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.
XMAD:TRE vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Tecnicas Reunidas'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.
Tecnicas Reunidas ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Tecnicas Reunidas's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tecnicas Reunidas'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 75.35% mean?
Tecnicas Reunidas (XMAD:TRE) has a ROC (Joel Greenblatt) % of 75.35% 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 Tecnicas Reunidas and its competitors. This is 46% below median its historical median of 139.61. According to the industry distribution chart, Tecnicas Reunidas ranks #128 out of 1782 companies in the Construction industry, placing it in the top 7.2%.
Is Tecnicas Reunidas' ROC (Joel Greenblatt) % too high?
Tecnicas Reunidas' current ROC (Joel Greenblatt) % of 75.35% is 46% below median its 10-year median of 139.61. The Construction industry median ROC (Joel Greenblatt) % is 19.56. Tecnicas Reunidas' value of 75.35% is 285.2% above this industry median. Based on the distribution chart, Tecnicas Reunidas ranks #128 out of 1782 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Tecnicas Reunidas has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tecnicas Reunidas' ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Tecnicas Reunidas ranks #128 out of 1782 companies for ROC (Joel Greenblatt) %. This places Tecnicas Reunidas in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.56. Tecnicas Reunidas' value of 75.35% is 285.2% above this benchmark. While the company's 10-year median is 139.61 vs. the industry median of 19.56, Tecnicas Reunidas 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.56, based on 1,782 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. Tecnicas Reunidas's current ROC (Joel Greenblatt) % of 75.35% is 285.2% 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 Tecnicas Reunidas and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tecnicas Reunidas's current ROC (Joel Greenblatt) % is 75.35%, which is 46% below median its own 10-year median of 139.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tecnicas Reunidas stock overvalued right now?
Based on GuruFocus' analysis, Tecnicas Reunidas (XMAD:TRE) is currently considered Significantly Overvalued. The stock's GF Value™ is €19.86, compared to a current price of €28.80 — trading 45% above its estimated fair value. The current ROC (Joel Greenblatt) % is 75.35%, which is 46% below median its 10-year median of 139.61 and 285.2% above the Construction industry median of 19.56. Tecnicas Reunidas' overall GF Score™ is 65/100 with 2 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 Tecnicas Reunidas (XMAD:TRE), the current ROC (Joel Greenblatt) % is 75.35% 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 Tecnicas Reunidas (XMAD:TRE) Overvalued in 2026?
Based on GuruFocus' analysis, Tecnicas Reunidas stock appears to be overvalued.
The current stock price of €28.80 is trading 45% above its estimated GF Value™ of €19.86.
GuruFocus considers Tecnicas Reunidas to be Significantly Overvalued.
Key valuation signals for XMAD:TRE:
ROC (Joel Greenblatt) %: 75.35% (46% below median its 10-year median of 139.61)
GF Value™: €19.86 vs. price of €28.80 (45% above fair value)
Industry Position: 285.2% above the Construction median (#128 of 1782)
No single metric tells the full story. See the XMAD:TRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tecnicas Reunidas SA is a general contracting company. It engages in engineering, design and construction of industrial facilities for international customers including principal national oil companies and multinational companies. The firm's majority of business is focused on large turnkey industrial projects and it also offers engineering, management, start-up and operating services for industrial plants. Its business areas are oil and gas, power, infrastructures and industries. The company mainly operates in Spain, Middle East, Latin America, Asia and the Mediterranean region.
65GF Score
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