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Nava Nakorn PCLBKK:NNCL +1.09%76 ROC (Joel Greenblatt) % is 12.12% as of Mar. 2026, which is 19% below its 10-year median of 14.93. GuruFocus rates BKK:NNCL with a GF Score™ of 76/100 and a GF Value™ of ฿1.59 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 440 Utilities - Independent Power Producers companies, Nava Nakorn PCL ranks better than 74.09% 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. Nava Nakorn PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.12%.
The historical rank and industry rank for Nava Nakorn PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:NNCL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.58 Med: 14.93 Max: 21.36
Current: 15.15
During the past 13 years, Nava Nakorn PCL's highest ROC (Joel Greenblatt) % was 21.36%. The lowest was 5.58%. And the median was 14.93%.
BKK:NNCL's ROC (Joel Greenblatt) % is ranked better than 74.09% of 440
companies
in the Utilities - Independent Power Producers industry
Industry Median: 6.34
vs BKK:NNCL: 15.15
Nava Nakorn PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 2.50% per year.
Nava Nakorn PCL (BKK:NNCL) 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.
Nava Nakorn PCL ROC (Joel Greenblatt) % Related Terms
Nava Nakorn PCL ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Nava Nakorn 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:NNCL vs CEG, VST, NRG: ROC (Joel Greenblatt) % Comparison
For the Utilities - Independent Power Producers subindustry, Nava Nakorn 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.
Nava Nakorn PCL ROC (Joel Greenblatt) % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Nava Nakorn PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nava Nakorn PCL's ROC (Joel Greenblatt) % falls into.
Nava Nakorn 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 12.12% mean?
Nava Nakorn PCL (BKK:NNCL) has a ROC (Joel Greenblatt) % of 12.12% 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 Nava Nakorn PCL and its competitors. This is 19% below median its historical median of 14.93. Over the past decade, Nava Nakorn PCL's ROC (Joel Greenblatt) % has ranged from 5.58 to 21.36. According to the industry distribution chart, Nava Nakorn PCL ranks #114 out of 440 companies in the Utilities - Independent Power Producers industry, placing it in the top 25.9%.
Is Nava Nakorn PCL's ROC (Joel Greenblatt) % too high?
Nava Nakorn PCL's current ROC (Joel Greenblatt) % of 12.12% is 19% below median its 10-year median of 14.93. Over the past 10 years, this metric has ranged from a low of 5.58 to a high of 21.36. The Utilities - Independent Power Producers industry median ROC (Joel Greenblatt) % is 6.34. Nava Nakorn PCL's value of 12.12% is 91.2% above this industry median. Based on the distribution chart, Nava Nakorn PCL ranks #114 out of 440 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Nava Nakorn PCL has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nava Nakorn PCL's ROC (Joel Greenblatt) % compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Nava Nakorn PCL ranks #114 out of 440 companies for ROC (Joel Greenblatt) %. This puts Nava Nakorn PCL in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 6.34. Nava Nakorn PCL's value of 12.12% is 91.2% above this benchmark. Historically, Nava Nakorn PCL's own ROC (Joel Greenblatt) % has ranged from 5.58 to 21.36 over the past decade. While the company's 10-year median is 14.93 vs. the industry median of 6.34, Nava Nakorn 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 an Utilities - Independent Power Producers company?
The median ROC (Joel Greenblatt) % among Utilities - Independent Power Producers companies is 6.34, based on 440 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. Nava Nakorn PCL's current ROC (Joel Greenblatt) % of 12.12% is 91.2% 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 Nava Nakorn PCL and its competitors. For the Utilities - Independent Power Producers industry, the median ROC (Joel Greenblatt) % is 6.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nava Nakorn PCL's current ROC (Joel Greenblatt) % is 12.12%, which is 19% below median its own 10-year median of 14.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nava Nakorn PCL stock overvalued right now?
Based on GuruFocus' analysis, Nava Nakorn PCL (BKK:NNCL) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿1.59, compared to a current price of ฿1.85 — trading 16.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 12.12%, which is 19% below median its 10-year median of 14.93 and 91.2% above the Utilities - Independent Power Producers industry median of 6.34. Nava Nakorn PCL's overall GF Score™ is 76/100 with 5 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 Nava Nakorn PCL (BKK:NNCL), the current ROC (Joel Greenblatt) % is 12.12% 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 Nava Nakorn PCL (BKK:NNCL) Overvalued in 2026?
Based on GuruFocus' analysis, Nava Nakorn PCL stock appears to be overvalued.
The current stock price of ฿1.85 is trading 16.4% above its estimated GF Value™ of ฿1.59.
GuruFocus considers Nava Nakorn PCL to be Modestly Overvalued.
Key valuation signals for BKK:NNCL:
ROC (Joel Greenblatt) %: 12.12% (19% below median its 10-year median of 14.93)
GF Value™: ฿1.59 vs. price of ฿1.85 (16.4% above fair value)
Industry Position: 91.2% above the Utilities - Independent Power Producers median (#114 of 440)
No single metric tells the full story. See the BKK:NNCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nava Nakorn PCL is an industrial estate developer. It is engaged in the development of the property and industrial promotion zone projects for trading and leasing, and providing utilities and other facilities services in the industrial promotion zone. The company has two reportable segments, namely the Real estate business and the Utilities services business. It generates the majority of its revenue from the Utilities services segment.
76GF Score
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