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. Bangkok Aviation Fuel Services PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.68%.
The historical rank and industry rank for Bangkok Aviation Fuel Services PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:BAFS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -3.49 Med: 5.51 Max: 32.13
Current: 5.94
During the past 13 years, Bangkok Aviation Fuel Services PCL's highest ROC (Joel Greenblatt) % was 32.13%. The lowest was -3.49%. And the median was 5.51%.
BKK:BAFS's ROC (Joel Greenblatt) % is ranked worse than 71.61% of 997
companies
in the Transportation industry
Industry Median: 11.68
vs BKK:BAFS: 5.94
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.
BKK:BAFS vs JOBY, CAAP: ROC (Joel Greenblatt) % Comparison
For the Airports & Air Services subindustry, Bangkok Aviation Fuel Services PCL'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.
Bangkok Aviation Fuel Services PCL ROC (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, Bangkok Aviation Fuel Services PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Bangkok Aviation Fuel Services PCL'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 8.68% mean?
Bangkok Aviation Fuel Services PCL (BKK:BAFS) has a ROC (Joel Greenblatt) % of 8.68% 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 Bangkok Aviation Fuel Services PCL and its competitors. This is 58% above median its historical median of 5.51. According to the industry distribution chart, Bangkok Aviation Fuel Services PCL ranks #714 out of 997 companies in the Transportation industry, placing it in the top 71.6%.
Is Bangkok Aviation Fuel Services PCL's ROC (Joel Greenblatt) % too high?
Bangkok Aviation Fuel Services PCL's current ROC (Joel Greenblatt) % of 8.68% is 58% above median its 10-year median of 5.51. The Transportation industry median ROC (Joel Greenblatt) % is 11.68. Bangkok Aviation Fuel Services PCL's value of 8.68% is 25.7% below this industry median. Based on the distribution chart, Bangkok Aviation Fuel Services PCL ranks #714 out of 997 companies in the Transportation industry, which is below the industry midpoint. Overall, Bangkok Aviation Fuel Services PCL has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bangkok Aviation Fuel Services PCL's ROC (Joel Greenblatt) % compare to JOBY and CAAP?
According to the Transportation industry distribution chart, Bangkok Aviation Fuel Services PCL ranks #714 out of 997 companies for ROC (Joel Greenblatt) %. This places Bangkok Aviation Fuel Services PCL in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.68. Bangkok Aviation Fuel Services PCL's value of 8.68% is 25.7% below this benchmark. While the company's 10-year median is 5.51 vs. the industry median of 11.68, Bangkok Aviation Fuel Services PCL 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 a Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.68, based on 997 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. Bangkok Aviation Fuel Services PCL's current ROC (Joel Greenblatt) % of 8.68% is 25.7% 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 Bangkok Aviation Fuel Services PCL and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bangkok Aviation Fuel Services PCL's current ROC (Joel Greenblatt) % is 8.68%, which is 58% above median its own 10-year median of 5.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bangkok Aviation Fuel Services PCL stock overvalued right now?
Based on GuruFocus' analysis, Bangkok Aviation Fuel Services PCL (BKK:BAFS) is currently considered Possible Value Trap. The stock's GF Value™ is ฿15.66, compared to a current price of ฿10.60 — trading 32.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 8.68%, which is 58% above median its 10-year median of 5.51 and 25.7% below the Transportation industry median of 11.68. Bangkok Aviation Fuel Services PCL's overall GF Score™ is 75/100 with 10 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 Bangkok Aviation Fuel Services PCL (BKK:BAFS), the current ROC (Joel Greenblatt) % is 8.68% 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 Bangkok Aviation Fuel Services PCL (BKK:BAFS) Overvalued in 2026?
Based on GuruFocus' analysis, Bangkok Aviation Fuel Services PCL stock appears to be undervalued.
The current stock price of ฿10.60 is trading 32.3% below its estimated GF Value™ of ฿15.66.
GuruFocus considers Bangkok Aviation Fuel Services PCL to be Possible Value Trap.
Key valuation signals for BKK:BAFS:
ROC (Joel Greenblatt) %: 8.68% (58% above median its 10-year median of 5.51)
GF Value™: ฿15.66 vs. price of ฿10.60 (32.3% below fair value)
Industry Position: 25.7% below the Transportation median (#714 of 997)
No single metric tells the full story. See the BKK:BAFS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bangkok Aviation Fuel Services PCL Business Description
Bangkok Aviation Fuel Services PCL provides fuel services and storage for multiple airports in Thailand. The company has three operating segments: The aviation segment, the Utility and Power segment, and the business solution segment. The aviation segment provides in-plane service, manufacture, and assembly of hydrant dispensers. The utilities and power segment provides fuel pipeline transportation services, as well as the generation and distribution of electricity from solar power to the government. The business solution segment involves the development, design, manufacture, and sales of innovation and digital products, including the provision of other services. The majority of its revenue is generated from the Aviation segment.
75GF Score
Get the complete analysis for BKK:BAFS
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:BAFS has been successfully added to your 
