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Siam Wellness Group PCLBKK:SPA -2.35%82 ROC (Joel Greenblatt) % is 14.23% as of Mar. 2026, which is 36% below its 10-year median of 22.21. GuruFocus rates BKK:SPA with a GF Score™ of 82/100 and a GF Value™ of ฿7.54 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 96 Personal Services companies, Siam Wellness Group PCL ranks better than 51.04% 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. Siam Wellness Group PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.23%.
The historical rank and industry rank for Siam Wellness Group PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:SPA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -12.1 Med: 22.21 Max: 28.06
Current: 13.87
During the past 13 years, Siam Wellness Group PCL's highest ROC (Joel Greenblatt) % was 28.06%. The lowest was -12.10%. And the median was 22.21%.
BKK:SPA's ROC (Joel Greenblatt) % is ranked better than 51.04% of 96
companies
in the Personal Services industry
Industry Median: 13.02
vs BKK:SPA: 13.87
Siam Wellness Group PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Siam Wellness Group PCL (BKK:SPA) 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.
Siam Wellness Group PCL ROC (Joel Greenblatt) % Related Terms
Siam Wellness Group PCL ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Siam Wellness Group 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.
Siam Wellness Group PCL ROC (Joel Greenblatt) % Chart
BKK:SPA vs ROL, SCI, FTDR: ROC (Joel Greenblatt) % Comparison
For the Personal Services subindustry, Siam Wellness 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.
Siam Wellness Group PCL ROC (Joel Greenblatt) % vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Siam Wellness Group PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Siam Wellness Group PCL's ROC (Joel Greenblatt) % falls into.
Siam Wellness 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 14.23% mean?
Siam Wellness Group PCL (BKK:SPA) has a ROC (Joel Greenblatt) % of 14.23% 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 Siam Wellness Group PCL and its competitors. This is 36% below median its historical median of 22.21. According to the industry distribution chart, Siam Wellness Group PCL ranks #47 out of 96 companies in the Personal Services industry, placing it in the top 49%.
Is Siam Wellness Group PCL's ROC (Joel Greenblatt) % too high?
Siam Wellness Group PCL's current ROC (Joel Greenblatt) % of 14.23% is 36% below median its 10-year median of 22.21. The Personal Services industry median ROC (Joel Greenblatt) % is 13.02. Siam Wellness Group PCL's value of 14.23% is 9.3% above this industry median. Based on the distribution chart, Siam Wellness Group PCL ranks #47 out of 96 companies in the Personal Services industry, which is above the industry midpoint. Overall, Siam Wellness Group PCL has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Siam Wellness Group PCL's ROC (Joel Greenblatt) % compare to ROL and SCI?
According to the Personal Services industry distribution chart, Siam Wellness Group PCL ranks #47 out of 96 companies for ROC (Joel Greenblatt) %. This puts Siam Wellness Group PCL in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 13.02. Siam Wellness Group PCL's value of 14.23% is 9.3% above this benchmark. While the company's 10-year median is 22.21 vs. the industry median of 13.02, Siam Wellness 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 Personal Services company?
The median ROC (Joel Greenblatt) % among Personal Services companies is 13.02, based on 96 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. Siam Wellness Group PCL's current ROC (Joel Greenblatt) % of 14.23% is 9.3% 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 Siam Wellness Group PCL and its competitors. For the Personal Services industry, the median ROC (Joel Greenblatt) % is 13.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Siam Wellness Group PCL's current ROC (Joel Greenblatt) % is 14.23%, which is 36% below median its own 10-year median of 22.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Siam Wellness Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Siam Wellness Group PCL (BKK:SPA) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿7.54, compared to a current price of ฿3.32 — trading 56% below its estimated fair value. The current ROC (Joel Greenblatt) % is 14.23%, which is 36% below median its 10-year median of 22.21 and 9.3% above the Personal Services industry median of 13.02. Siam Wellness Group PCL's overall GF Score™ is 82/100 with 2 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 Siam Wellness Group PCL (BKK:SPA), the current ROC (Joel Greenblatt) % is 14.23% 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 Siam Wellness Group PCL (BKK:SPA) Overvalued in 2026?
Based on GuruFocus' analysis, Siam Wellness Group PCL stock appears to be undervalued.
The current stock price of ฿3.32 is trading 56% below its estimated GF Value™ of ฿7.54.
GuruFocus considers Siam Wellness Group PCL to be Significantly Undervalued.
Key valuation signals for BKK:SPA:
ROC (Joel Greenblatt) %: 14.23% (36% below median its 10-year median of 22.21)
GF Value™: ฿7.54 vs. price of ฿3.32 (56% below fair value)
Industry Position: 9.3% above the Personal Services median (#47 of 96)
No single metric tells the full story. See the BKK:SPA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Siam Wellness Group PCL is a Thailand-based company and is principally engaged in the spa business. The business is organized into three segments: Spa services, which operates day spa and destination spa. Also, provides spa management and spa consultancy services; Sales of spa products and healthy products, which distributes natural spa products both and spa equipment for domestic and international markets. and Hotel and restaurant which operates boutique resorts and restaurants. Key revenue is earned from providing spa services. The Group operates in Thailand.
82GF Score
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