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. British American Tobacco Malaysia Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -26.59%.
BATMF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 34.99 Med: 80.49 Max: 435.96
Current: 34.99
During the past 13 years, British American Tobacco Malaysia Bhd's highest ROC (Joel Greenblatt) % was 435.96%. The lowest was 34.99%. And the median was 80.49%.
BATMF's ROC (Joel Greenblatt) % is ranked worse than 53.19% of 47
companies
in the Tobacco Products industry
Industry Median: 43.16
vs BATMF: 34.99
British American Tobacco Malaysia Bhd (OTCPK:BATMF) 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.
* 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.
British American Tobacco Malaysia Bhd ROC (Joel Greenblatt) % Chart
BATMF vs PM, MO, TPB: ROC (Joel Greenblatt) % Comparison
For the Tobacco subindustry, British American Tobacco Malaysia Bhd'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.
British American Tobacco Malaysia Bhd ROC (Joel Greenblatt) % vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Malaysia Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where British American Tobacco Malaysia Bhd's ROC (Joel Greenblatt) % falls into.
British American Tobacco Malaysia Bhd ROC (Joel Greenblatt) % Calculation
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 -26.59% mean?
British American Tobacco Malaysia Bhd (BATMF) has a ROC (Joel Greenblatt) % of -26.59% 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 British American Tobacco Malaysia Bhd and its competitors. Over the past decade, British American Tobacco Malaysia Bhd's ROC (Joel Greenblatt) % has ranged from 34.99 to 435.96. According to the industry distribution chart, British American Tobacco Malaysia Bhd ranks #25 out of 47 companies in the Tobacco Products industry, placing it in the top 53.2%.
Is British American Tobacco Malaysia Bhd's ROC (Joel Greenblatt) % too high?
British American Tobacco Malaysia Bhd's current ROC (Joel Greenblatt) % is -26.59%. Over the past 10 years, this metric has ranged from a low of 34.99 to a high of 435.96. Based on the distribution chart, British American Tobacco Malaysia Bhd ranks #25 out of 47 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, British American Tobacco Malaysia Bhd has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Malaysia Bhd's ROC (Joel Greenblatt) % compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Malaysia Bhd ranks #25 out of 47 companies for ROC (Joel Greenblatt) %. This places British American Tobacco Malaysia Bhd in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 43.16. Historically, British American Tobacco Malaysia Bhd's own ROC (Joel Greenblatt) % has ranged from 34.99 to 435.96 over the past decade. 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 Tobacco Products company?
The median ROC (Joel Greenblatt) % among Tobacco Products companies is 43.16, based on 47 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. 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 British American Tobacco Malaysia Bhd and its competitors. For the Tobacco Products industry, the median ROC (Joel Greenblatt) % is 43.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Malaysia Bhd's current ROC (Joel Greenblatt) % is -26.59%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Malaysia Bhd (BATMF) is currently considered Modestly Undervalued. The stock's GF Value™ is $1.45, compared to a current price of $1.07 — trading 26.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is -26.59%. British American Tobacco Malaysia Bhd's overall GF Score™ is 77/100 with 8 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 British American Tobacco Malaysia Bhd (BATMF), the current ROC (Joel Greenblatt) % is -26.59% 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 British American Tobacco Malaysia Bhd (BATMF) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Malaysia Bhd stock appears to be undervalued.
The current stock price of $1.07 is trading 26.2% below its estimated GF Value™ of $1.45.
GuruFocus considers British American Tobacco Malaysia Bhd to be Modestly Undervalued.
Key valuation signals for BATMF:
ROC (Joel Greenblatt) %: -26.59%
GF Value™: $1.45 vs. price of $1.07 (26.2% below fair value)
No single metric tells the full story. See the BATMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Malaysia Bhd Business Description
British American Tobacco Malaysia Bhd is principally engaged in the manufacturing, marketing, and importation of cigarettes, pipe tobaccos, cigars, devices, other tobacco products, and nicotine products. Geographically, the company operates in Malaysia. Its key brands are Dunhill, Peter Stuyvesant, Rothmans, KYO, Pall Mall, and Kent.
77GF Score
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