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Index International Group PCLBKK:IND -2.00%83 ROC (Joel Greenblatt) % is 113.92% as of Mar. 2026, which is 39% below its 10-year median of 186.33. GuruFocus rates BKK:IND with a GF Score™ of 83/100 and a GF Value™ of ฿1.38 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,782 Construction companies, Index International Group PCL ranks better than 94.44% 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. Index International Group PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 113.92%.
The historical rank and industry rank for Index International Group PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:IND'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 85.46 Med: 186.33 Max: 349.4
Current: 275.53
During the past 8 years, Index International Group PCL's highest ROC (Joel Greenblatt) % was 349.40%. The lowest was 85.46%. And the median was 186.33%.
BKK:IND's ROC (Joel Greenblatt) % is ranked better than 94.44% of 1782
companies
in the Construction industry
Industry Median: 19.6
vs BKK:IND: 275.53
Index International Group PCL (BKK:IND) 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.
Index International Group PCL ROC (Joel Greenblatt) % Chart
BKK:IND vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Index International Group 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.
Index International Group PCL ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Index International Group PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Index International Group PCL's ROC (Joel Greenblatt) % falls into.
Index International Group PCL 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 113.92% mean?
Index International Group PCL (BKK:IND) has a ROC (Joel Greenblatt) % of 113.92% 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 Index International Group PCL and its competitors. This is 39% below median its historical median of 186.33. Over the past decade, Index International Group PCL's ROC (Joel Greenblatt) % has ranged from 85.46 to 349.40. According to the industry distribution chart, Index International Group PCL ranks #99 out of 1782 companies in the Construction industry, placing it in the top 5.6%.
Is Index International Group PCL's ROC (Joel Greenblatt) % too high?
Index International Group PCL's current ROC (Joel Greenblatt) % of 113.92% is 39% below median its 10-year median of 186.33. Over the past 10 years, this metric has ranged from a low of 85.46 to a high of 349.40. The Construction industry median ROC (Joel Greenblatt) % is 19.60. Index International Group PCL's value of 113.92% is 481.2% above this industry median. Based on the distribution chart, Index International Group PCL ranks #99 out of 1782 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Index International Group PCL has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Index International Group PCL's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Index International Group PCL ranks #99 out of 1782 companies for ROC (Joel Greenblatt) %. This places Index International Group PCL in the top 6% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 19.60. Index International Group PCL's value of 113.92% is 481.2% above this benchmark. Historically, Index International Group PCL's own ROC (Joel Greenblatt) % has ranged from 85.46 to 349.40 over the past decade. While the company's 10-year median is 186.33 vs. the industry median of 19.60, Index International Group 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.60, based on 1,782 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. Index International Group PCL's current ROC (Joel Greenblatt) % of 113.92% is 481.2% 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 Index International Group PCL and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Index International Group PCL's current ROC (Joel Greenblatt) % is 113.92%, which is 39% below median its own 10-year median of 186.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Index International Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Index International Group PCL (BKK:IND) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿1.38, compared to a current price of ฿0.98 — trading 29% below its estimated fair value. The current ROC (Joel Greenblatt) % is 113.92%, which is 39% below median its 10-year median of 186.33 and 481.2% above the Construction industry median of 19.60. Index International Group PCL's overall GF Score™ is 83/100 with 4 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 Index International Group PCL (BKK:IND), the current ROC (Joel Greenblatt) % is 113.92% 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 Index International Group PCL (BKK:IND) Overvalued in 2026?
Based on GuruFocus' analysis, Index International Group PCL stock appears to be undervalued.
The current stock price of ฿0.98 is trading 29% below its estimated GF Value™ of ฿1.38.
GuruFocus considers Index International Group PCL to be Modestly Undervalued.
Key valuation signals for BKK:IND:
ROC (Joel Greenblatt) %: 113.92% (39% below median its 10-year median of 186.33)
GF Value™: ฿1.38 vs. price of ฿0.98 (29% below fair value)
Industry Position: 481.2% above the Construction median (#99 of 1782)
No single metric tells the full story. See the BKK:IND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Index International Group PCL Business Description
Index International Group PCL is an engineering consultancy firm offering detailed design services, project management services, and detailed design construction. Its services include a wide range of services in specialized fields such as project planning, city, and district planning, architectural design involving landscaping and architecture, and engineering design involving structural, electrical, mechanical, transportation, sanitary, geotechnical, environmental, and water resources engineering. The group operates in Thailand.
83GF Score
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