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. ExxonMobil Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.49%.
The historical rank and industry rank for ExxonMobil Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:XOM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -11.53 Med: 13.39 Max: 37.29
Current: 12.33
During the past 13 years, ExxonMobil Holdings's highest ROC (Joel Greenblatt) % was 37.29%. The lowest was -11.53%. And the median was 13.39%.
XSWX:XOM's ROC (Joel Greenblatt) % is ranked better than 61.62% of 998
companies
in the Oil & Gas industry
Industry Median: 8.415
vs XSWX:XOM: 12.33
ExxonMobil Holdings'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.
ExxonMobil Holdings ROC (Joel Greenblatt) % Related Terms
ExxonMobil Holdings ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for ExxonMobil 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.
XSWX:XOM vs CVX, NFG, DEC: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Integrated subindustry, ExxonMobil 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.
ExxonMobil Holdings ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, ExxonMobil Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ExxonMobil Holdings'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 9.49% mean?
ExxonMobil Holdings (XSWX:XOM) has a ROC (Joel Greenblatt) % of 9.49% 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 ExxonMobil Holdings and its competitors. This is 29% below median its historical median of 13.39. According to the industry distribution chart, ExxonMobil Holdings ranks #383 out of 998 companies in the Oil & Gas industry, placing it in the top 38.4%.
Is ExxonMobil Holdings' ROC (Joel Greenblatt) % too high?
ExxonMobil Holdings' current ROC (Joel Greenblatt) % of 9.49% is 29% below median its 10-year median of 13.39. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.42. ExxonMobil Holdings' value of 9.49% is 12.8% above this industry median. Based on the distribution chart, ExxonMobil Holdings ranks #383 out of 998 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, ExxonMobil Holdings has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does ExxonMobil Holdings' ROC (Joel Greenblatt) % compare to CVX and NFG?
According to the Oil & Gas industry distribution chart, ExxonMobil Holdings ranks #383 out of 998 companies for ROC (Joel Greenblatt) %. This puts ExxonMobil Holdings in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.42. ExxonMobil Holdings' value of 9.49% is 12.8% above this benchmark. While the company's 10-year median is 13.39 vs. the industry median of 8.42, ExxonMobil Holdings 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 an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.42, based on 998 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. ExxonMobil Holdings's current ROC (Joel Greenblatt) % of 9.49% is 12.8% 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 ExxonMobil Holdings and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ExxonMobil Holdings's current ROC (Joel Greenblatt) % is 9.49%, which is 29% below median its own 10-year median of 13.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ExxonMobil Holdings stock overvalued right now?
ExxonMobil Holdings (XSWX:XOM) has a current ROC (Joel Greenblatt) % of 9.49%. The stock's GF Value™ is CHF91.21, compared to a current price of CHF112.42 — trading 23.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 9.49%, which is 29% below median its 10-year median of 13.39 and 12.8% above the Oil & Gas industry median of 8.42. ExxonMobil Holdings' overall GF Score™ is 68/100 with 1 warning sign 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 ExxonMobil Holdings (XSWX:XOM), the current ROC (Joel Greenblatt) % is 9.49% 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 ExxonMobil Holdings (XSWX:XOM) Overvalued in 2026?
Based on GuruFocus' analysis, ExxonMobil Holdings stock appears to be overvalued.
The current stock price of CHF112.42 is trading 23.3% above its estimated GF Value™ of CHF91.21.
Key valuation signals for XSWX:XOM:
ROC (Joel Greenblatt) %: 9.49% (29% below median its 10-year median of 13.39)
GF Value™: CHF91.21 vs. price of CHF112.42 (23.3% above fair value)
Industry Position: 12.8% above the Oil & Gas median (#383 of 998)
No single metric tells the full story. See the XSWX:XOM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil worldwide. In 2025, it produced 3.3 million barrels of liquids and 8.4 billion cubic feet of natural gas per day. At the end of 2025, reserves were 19.3 billion barrels of oil equivalent, 69% of which were liquids. The company is one of the world's largest refiners, with a total global refining capacity of 4.1 million barrels of oil per day, and is one of the world's largest manufacturers of commodity and specialty chemicals.
68GF Score
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