How the ranking is computed
- Return on capital: trailing-twelve-month operating profit divided by net working capital plus net fixed assets
- Earnings yield: that same operating profit divided by enterprise value at today's price (market cap plus net debt)
- Universe: US-listed companies of $2 billion or more, excluding financials, utilities and REITs, and excluding negative operating profit or accounts older than fifteen months
- Combined rank: rank by return on capital plus rank by earnings yield; the lowest sum wins
- Output: rank, percentile (100 = best) and whether it is among the formula's 30
Source: Joel Greenblatt, The Little Book That Beats the Market (2006). Computed every night over the whole Kaplio coverage.
Today's 30
| Rank | Company | Sector | Return on capital | Earnings yield | Share price | Market cap | Days in the top 30 |
|---|---|---|---|---|---|---|---|
| 1 | Northern Oil and Gas, Inc. (NOG) | Energy | 1,343 % | 12.4 % | $28.48 | $3.0B | 42 |
| 2 | Group 1 Automotive, Inc. (GPI) | Consumer Cyclical | 351 % | 10.4 % | $243.88 | $2.9B | 42 |
| 3 | H&R Block, Inc. (HRB) | Consumer Cyclical | 117 % | 14.0 % | $50.06 | $6.1B | 24 |
| 4 | ADT Inc. (ADT) | Industrials | 727 % | 10.1 % | $6.88 | $5.0B | 42 |
| 5 | The Clorox Company (CLX) | Consumer Defensive | 172 % | 10.5 % | $86.76 | $10.5B | 42 |
| 6 | Excelerate Energy, Inc. (EE) | Energy | 82 % | 21.2 % | $32.51 | $3.7B | 42 |
| 7 | Open Text Corporation (OTEX) | Technology | 729 % | 9.4 % | $27.63 | $6.7B | 42 |
| 8 | Crocs, Inc. (CROX) | Consumer Cyclical | 110 % | 11.7 % | $118.85 | $5.7B | 42 |
| 9 | Maximus, Inc. (MMS) | Industrials | 95 % | 13.1 % | $63.50 | $3.3B | 42 |
| 10 | Corporacion America Airports S.A. (CAAP) | Industrials | 131 % | 10.4 % | $23.84 | $3.9B | 42 |
| 11 | Omnicom Group Inc. (OMC) | Communication Services | 778 % | 8.9 % | $79.83 | $21.9B | 42 |
| 12 | Solventum Corporation (SOLV) | Healthcare | 102 % | 11.1 % | $85.81 | $14.6B | 42 |
| 13 | Signet Jewelers Limited (SIG) | Consumer Cyclical | 73 % | 13.2 % | $115.00 | $4.4B | 42 |
| 14 | Vontier Corporation (VNT) | Technology | 159 % | 9.2 % | $34.60 | $4.7B | 42 |
| 15 | Black Stone Minerals, L.P. (BSM) | Energy | 387 % | 8.4 % | $14.90 | $3.2B | 42 |
| 16 | Adobe Inc. (ADBE) | Technology | 395 % | 8.3 % | $258.62 | $101B | 42 |
| 17 | Versant Media Group, Inc. Class A (VSNT) | Communication Services | 56 % | 24.8 % | $30.63 | $4.3B | 42 |
| 18 | Super Group (SGHC) Limited (SGHC) | Consumer Cyclical | 103 % | 9.6 % | $10.87 | $5.5B | 21 |
| 19 | Bausch Health Companies Inc. (BHC) | Healthcare | 65 % | 11.7 % | $6.35 | $2.4B | 24 |
| 20 | Amdocs Limited (DOX) | Technology | 67 % | 11.0 % | $62.68 | $6.7B | 42 |
| 21 | Euronet Worldwide, Inc. (EEFT) | Technology | 52 % | 17.2 % | $63.95 | $2.4B | 42 |
| 22 | Micron Technology, Inc. (MU) | Technology | 78 % | 10.0 % | $903.70 | $1.0T | 15 |
| 23 | Fiserv, Inc. (FISV) | Technology | 118 % | 8.4 % | $48.33 | $25.7B | 42 |
| 24 | Booking Holdings Inc. (BKNG) | Consumer Cyclical | 146 % | 7.9 % | $153.14 | $115B | 6 |
| 25 | KBR, Inc. (KBR) | Industrials | 86 % | 9.1 % | $40.02 | $5.0B | 42 |
| 26 | Par Pacific Holdings, Inc. (PARR) | Energy | 47 % | 20.3 % | $83.17 | $4.2B | 19 |
| 27 | Equinor ASA (EQNR) | Energy | 46 % | 21.9 % | $48.10 | $115B | 14 |
| 28 | Bath & Body Works, Inc. (BBWI) | Consumer Cyclical | 49 % | 14.7 % | $21.38 | $4.3B | 20 |
| 29 | Bristol-Myers Squibb Company (BMY) | Healthcare | 90 % | 8.3 % | $61.61 | $126B | 4 |
| 30 | Bob's Discount Furniture, Inc. (BOBS) | Consumer Cyclical | 81 % | 8.5 % | $16.01 | $2.1B | 1 |
Changes since October 26, 2026
Entered: Bob's Discount Furniture, Inc. (BOBS)
Left: TriNet Group, Inc. (TNET)
Frequently asked questions
What is Greenblatt's magic formula?
A two-number ranking: buy good companies (high return on the capital they employ) at bargain prices (high operating earnings yield on enterprise value). The universe is ranked by each number, the ranks are added, and the best sums make the list.
How does Kaplio apply it?
Every night, over the 1,095 US-listed companies of $2 billion or more that meet the book's conditions: no financials, utilities or REITs, no negative operating profit, no accounts older than fifteen months. Each company gets a rank and a percentile; the top 30 are this list.
Why do little-known companies show up?
Because the formula rewards a low price relative to operating profit, and fashionable companies do not have one. It is normal for the list to be made of profitable but unglamorous businesses, and for it to change little from one day to the next.
Is this a buy recommendation?
No. It is a mechanical ranking with public rules. Greenblatt designed it as a basket bought whole and rotated every year, and warns it can trail the market for several years in a row. Every company links to its page, with Kaplio's overview and reading.
Data as of October 27, 2026. Recalculated every night.