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. MFC Industrial Investment Freehold and Leasehold REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 442.37%.
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:MII vs VICI, WPC, BNL: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, MFC Industrial Investment Freehold and Leasehold REIT'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.
MFC Industrial Investment Freehold and Leasehold REIT ROC (Joel Greenblatt) % vs REITs Industry
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 442.37% mean?
MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) has a ROC (Joel Greenblatt) % of 442.37% 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 MFC Industrial Investment Freehold and Leasehold REIT and its competitors. This is 24% below median its historical median of 583.80. Over the past decade, MFC Industrial Investment Freehold and Leasehold REIT's ROC (Joel Greenblatt) % has ranged from 437.12 to 655.71. According to the industry distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #175 out of 586 companies in the REITs industry, placing it in the top 29.9%.
Is MFC Industrial Investment Freehold and Leasehold REIT's ROC (Joel Greenblatt) % too high?
MFC Industrial Investment Freehold and Leasehold REIT's current ROC (Joel Greenblatt) % of 442.37% is 24% below median its 10-year median of 583.80. Over the past 10 years, this metric has ranged from a low of 437.12 to a high of 655.71. The REITs industry median ROC (Joel Greenblatt) % is 180.65. MFC Industrial Investment Freehold and Leasehold REIT's value of 442.37% is 144.9% above this industry median. Based on the distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #175 out of 586 companies in the REITs industry, which is above the industry midpoint. Overall, MFC Industrial Investment Freehold and Leasehold REIT has a GF Scoreâ„¢ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MFC Industrial Investment Freehold and Leasehold REIT's ROC (Joel Greenblatt) % compare to VICI and WPC?
According to the REITs industry distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #175 out of 586 companies for ROC (Joel Greenblatt) %. This puts MFC Industrial Investment Freehold and Leasehold REIT in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 180.65. MFC Industrial Investment Freehold and Leasehold REIT's value of 442.37% is 144.9% above this benchmark. Historically, MFC Industrial Investment Freehold and Leasehold REIT's own ROC (Joel Greenblatt) % has ranged from 437.12 to 655.71 over the past decade. While the company's 10-year median is 583.80 vs. the industry median of 180.65, MFC Industrial Investment Freehold and Leasehold REIT 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 180.65, based on 586 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. MFC Industrial Investment Freehold and Leasehold REIT's current ROC (Joel Greenblatt) % of 442.37% is 144.9% 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 MFC Industrial Investment Freehold and Leasehold REIT and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 180.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MFC Industrial Investment Freehold and Leasehold REIT's current ROC (Joel Greenblatt) % is 442.37%, which is 24% below median its own 10-year median of 583.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MFC Industrial Investment Freehold and Leasehold REIT stock overvalued right now?
Based on GuruFocus' analysis, MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) is currently considered Fairly Valued. The stock's GF Value™ is ฿6.21, compared to a current price of ฿6.05 — trading 2.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 442.37%, which is 24% below median its 10-year median of 583.80 and 144.9% above the REITs industry median of 180.65. MFC Industrial Investment Freehold and Leasehold REIT's overall GF Score™ is 65/100 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 MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII), the current ROC (Joel Greenblatt) % is 442.37% 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 MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) Overvalued in 2026?
Based on GuruFocus' analysis, MFC Industrial Investment Freehold and Leasehold REIT stock appears to be undervalued.
The current stock price of ฿6.05 is trading 2.6% below its estimated GF Value™ of ฿6.21.
GuruFocus considers MFC Industrial Investment Freehold and Leasehold REIT to be Fairly Valued.
Key valuation signals for BKK:MII:
ROC (Joel Greenblatt) %: 442.37% (24% below median its 10-year median of 583.80)
GF Value™: ฿6.21 vs. price of ฿6.05 (2.6% below fair value)
Industry Position: 144.9% above the REITs median (#175 of 586)
No single metric tells the full story. See the BKK:MII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MFC Industrial Investment Freehold and Leasehold REIT Business Description
MFC Industrial Investment Freehold and Leasehold REIT is a close-ended property fund with no maturity date. Its objective of supporting the conversion from a Fund and to raise funds to invest in real estate or accept the transfer of leasehold rights to real estate, sub-leasehold rights to real estate, including movable properties and equipment related to operations and to generate benefits from real estate. The Trust has operated under one geographical activity for segment information which is the rental of properties in Thailand.
65GF Score
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