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INA-Industrija Nafte DDZAG:INA +3.00%74 ROC (Joel Greenblatt) % is 1.80% as of Mar. 2026, which is 85% below its 10-year median of 12.16. GuruFocus rates ZAG:INA with a GF Score™ of 74/100 and a GF Value™ of €357.16 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 998 Oil & Gas companies, INA-Industrija Nafte DD ranks better than 57.31% 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. INA-Industrija Nafte DD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.80%.
The historical rank and industry rank for INA-Industrija Nafte DD's ROC (Joel Greenblatt) % or its related term are showing as below:
ZAG:INA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -8.87 Med: 12.16 Max: 25.2
Current: 11.02
During the past 13 years, INA-Industrija Nafte DD's highest ROC (Joel Greenblatt) % was 25.20%. The lowest was -8.87%. And the median was 12.16%.
ZAG:INA's ROC (Joel Greenblatt) % is ranked better than 57.31% of 998
companies
in the Oil & Gas industry
Industry Median: 8.505
vs ZAG:INA: 11.02
INA-Industrija Nafte DD'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.
INA-Industrija Nafte DD ROC (Joel Greenblatt) % Related Terms
INA-Industrija Nafte DD ROC (Joel Greenblatt) % Historical Data
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The historical data trend for INA-Industrija Nafte DD'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.
ZAG:INA vs VLO, MPC, PSX: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Refining & Marketing subindustry, INA-Industrija Nafte DD'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.
INA-Industrija Nafte DD ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, INA-Industrija Nafte DD's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where INA-Industrija Nafte DD'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 1.80% mean?
INA-Industrija Nafte DD (ZAG:INA) has a ROC (Joel Greenblatt) % of 1.80% 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 INA-Industrija Nafte DD and its competitors. This is 85% below median its historical median of 12.16. According to the industry distribution chart, INA-Industrija Nafte DD ranks #426 out of 998 companies in the Oil & Gas industry, placing it in the top 42.7%.
Is INA-Industrija Nafte DD's ROC (Joel Greenblatt) % too high?
INA-Industrija Nafte DD's current ROC (Joel Greenblatt) % of 1.80% is 85% below median its 10-year median of 12.16. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.51. INA-Industrija Nafte DD's value of 1.80% is 78.8% below this industry median. Based on the distribution chart, INA-Industrija Nafte DD ranks #426 out of 998 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, INA-Industrija Nafte DD has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does INA-Industrija Nafte DD's ROC (Joel Greenblatt) % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, INA-Industrija Nafte DD ranks #426 out of 998 companies for ROC (Joel Greenblatt) %. This puts INA-Industrija Nafte DD in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.51. INA-Industrija Nafte DD's value of 1.80% is 78.8% below this benchmark. While the company's 10-year median is 12.16 vs. the industry median of 8.51, INA-Industrija Nafte DD has consistently been below 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 8.51, 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. INA-Industrija Nafte DD's current ROC (Joel Greenblatt) % of 1.80% is 78.8% below 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 INA-Industrija Nafte DD and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. INA-Industrija Nafte DD's current ROC (Joel Greenblatt) % is 1.80%, which is 85% below median its own 10-year median of 12.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is INA-Industrija Nafte DD stock overvalued right now?
Based on GuruFocus' analysis, INA-Industrija Nafte DD (ZAG:INA) is currently considered Significantly Overvalued. The stock's GF Value™ is €357.16, compared to a current price of €515.00 — trading 44.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is 1.80%, which is 85% below median its 10-year median of 12.16 and 78.8% below the Oil & Gas industry median of 8.51. INA-Industrija Nafte DD's overall GF Score™ is 74/100 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 INA-Industrija Nafte DD (ZAG:INA), the current ROC (Joel Greenblatt) % is 1.80% 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 INA-Industrija Nafte DD (ZAG:INA) Overvalued in 2026?
Based on GuruFocus' analysis, INA-Industrija Nafte DD stock appears to be overvalued.
The current stock price of €515.00 is trading 44.2% above its estimated GF Value™ of €357.16.
GuruFocus considers INA-Industrija Nafte DD to be Significantly Overvalued.
Key valuation signals for ZAG:INA:
ROC (Joel Greenblatt) %: 1.80% (85% below median its 10-year median of 12.16)
GF Value™: €357.16 vs. price of €515.00 (44.2% above fair value)
Industry Position: 78.8% below the Oil & Gas median (#426 of 998)
No single metric tells the full story. See the ZAG:INA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
INA-Industrija Nafte DD is a medium-sized European oil and gas company. It is engaged in exploration and production of oil and gas deposits, import of natural gas and sale of imported and domestically produced natural gas to industrial consumers and municipal gas distributors, refining and production of oil products through refineries located at Rijeka and Sisak, and Zagreb lubricants plants. Its segments are Exploration and Production of Oil & Gas; Refining & Marketing; Corporate and other. Exploration and Production of Oil & Gas segment include exploration, production, and selling of crude oil and natural gas. Refining & Marketing segment includes crude oil processing, wholesale of refinery products, trading, and logistics.
74GF Score
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