Forth PCLBKK:FORTH-R 84 ROC (Joel Greenblatt) % is 29.76% as of Mar. 2026, which is 18% above its 10-year median of 25.22. GuruFocus rates BKK:FORTH-R with a GF Score™ of 84/100 and a GF Value™ of ฿6.11. The stock has 6 warning signs investors should review. Among 558 Conglomerates companies, Forth PCL ranks better than 76.16% 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. Forth PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 29.76%.
The historical rank and industry rank for Forth PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:FORTH-R'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 16.69 Med: 25.22 Max: 39.51
Current: 35.95
During the past 13 years, Forth PCL's highest ROC (Joel Greenblatt) % was 39.51%. The lowest was 16.69%. And the median was 25.22%.
BKK:FORTH-R's ROC (Joel Greenblatt) % is ranked better than 76.16% of 558
companies
in the Conglomerates industry
Industry Median: 14.59
vs BKK:FORTH-R: 35.95
Forth PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -6.40% 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.
The historical data trend for Forth PCL'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.
BKK:FORTH-R vs HON, MMM: ROC (Joel Greenblatt) % Comparison
For the Conglomerates subindustry, Forth 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.
Forth PCL ROC (Joel Greenblatt) % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Forth PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Forth 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 29.76% mean?
Forth PCL (BKK:FORTH-R) has a ROC (Joel Greenblatt) % of 29.76% 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 Forth PCL and its competitors. This is 18% above median its historical median of 25.22. Over the past decade, Forth PCL's ROC (Joel Greenblatt) % has ranged from 16.69 to 39.51. According to the industry distribution chart, Forth PCL ranks #133 out of 558 companies in the Conglomerates industry, placing it in the top 23.8%.
Is Forth PCL's ROC (Joel Greenblatt) % too high?
Forth PCL's current ROC (Joel Greenblatt) % of 29.76% is 18% above median its 10-year median of 25.22. Over the past 10 years, this metric has ranged from a low of 16.69 to a high of 39.51. The Conglomerates industry median ROC (Joel Greenblatt) % is 14.59. Forth PCL's value of 29.76% is 104% above this industry median. Based on the distribution chart, Forth PCL ranks #133 out of 558 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Forth PCL has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Forth PCL's ROC (Joel Greenblatt) % compare to HON and MMM?
According to the Conglomerates industry distribution chart, Forth PCL ranks #133 out of 558 companies for ROC (Joel Greenblatt) %. This places Forth PCL in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 14.59. Forth PCL's value of 29.76% is 104% above this benchmark. Historically, Forth PCL's own ROC (Joel Greenblatt) % has ranged from 16.69 to 39.51 over the past decade. While the company's 10-year median is 25.22 vs. the industry median of 14.59, Forth PCL 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 a Conglomerates company?
The median ROC (Joel Greenblatt) % among Conglomerates companies is 14.59, based on 558 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. Forth PCL's current ROC (Joel Greenblatt) % of 29.76% is 104% 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 Forth PCL and its competitors. For the Conglomerates industry, the median ROC (Joel Greenblatt) % is 14.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth PCL's current ROC (Joel Greenblatt) % is 29.76%, which is 18% above median its own 10-year median of 25.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth PCL stock overvalued right now?
Forth PCL (BKK:FORTH-R) has a current ROC (Joel Greenblatt) % of 29.76%. The stock's GF Value™ is ฿6.11, compared to a current price of ฿6.44 — trading 5.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 29.76%, which is 18% above median its 10-year median of 25.22 and 104% above the Conglomerates industry median of 14.59. Forth PCL's overall GF Score™ is 84/100 with 6 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 Forth PCL (BKK:FORTH-R), the current ROC (Joel Greenblatt) % is 29.76% 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 Forth PCL (BKK:FORTH-R) Overvalued in 2026?
Based on GuruFocus' analysis, Forth PCL stock appears to be overvalued.
The current stock price of ฿6.44 is trading 5.4% above its estimated GF Value™ of ฿6.11.
Key valuation signals for BKK:FORTH-R:
ROC (Joel Greenblatt) %: 29.76% (18% above median its 10-year median of 25.22)
GF Value™: ฿6.11 vs. price of ฿6.44 (5.4% above fair value)
Industry Position: 104% above the Conglomerates median (#133 of 558)
No single metric tells the full story. See the BKK:FORTH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Corp PCL manufactures and distributes electronic equipment and project work relating to design and install telecommunication equipment. The company's segments include Electronics manufacturing service business sources, manufactures and distributes electronics parts, both work manufactured order and general equipment; Enterprise solutions business bids for project work, sources, subcontracts and install various systems for the government and private sectors; Smart service business provides online financial transaction service and sells products and service through vending machines and provides lending services. The Enterprise solutions business derives the majority of the revenue. Geographically it operates in Thailand, Netherlands, United States of America, and Others.
84GF Score
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