SPCG PCLBKK:SPCG-R 65 ROC (Joel Greenblatt) % is 3.78% as of Mar. 2026, which is 79% below its 10-year median of 17.86. GuruFocus rates BKK:SPCG-R with a GF Score™ of 65/100 and a GF Value™ of ฿5.90. The stock has 8 warning signs investors should review. Among 436 Utilities - Independent Power Producers companies, SPCG PCL ranks worse than 68.12% 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. SPCG PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.78%.
The historical rank and industry rank for SPCG PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:SPCG-R'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.61 Med: 17.86 Max: 20.35
Current: 2.61
During the past 13 years, SPCG PCL's highest ROC (Joel Greenblatt) % was 20.35%. The lowest was 2.61%. And the median was 17.86%.
BKK:SPCG-R's ROC (Joel Greenblatt) % is ranked worse than 68.12% of 436
companies
in the Utilities - Independent Power Producers industry
Industry Median: 6.615
vs BKK:SPCG-R: 2.61
SPCG PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -32.40% 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 SPCG 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.
For the Utilities - Renewable subindustry, SPCG 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.
SPCG PCL ROC (Joel Greenblatt) % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, SPCG PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where SPCG 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 3.78% mean?
SPCG PCL (BKK:SPCG-R) has a ROC (Joel Greenblatt) % of 3.78% 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 SPCG PCL and its competitors. This is 79% below median its historical median of 17.86. Over the past decade, SPCG PCL's ROC (Joel Greenblatt) % has ranged from 2.61 to 20.35. According to the industry distribution chart, SPCG PCL ranks #297 out of 436 companies in the Utilities - Independent Power Producers industry, placing it in the top 68.1%.
Is SPCG PCL's ROC (Joel Greenblatt) % too high?
SPCG PCL's current ROC (Joel Greenblatt) % of 3.78% is 79% below median its 10-year median of 17.86. Over the past 10 years, this metric has ranged from a low of 2.61 to a high of 20.35. The Utilities - Independent Power Producers industry median ROC (Joel Greenblatt) % is 6.62. SPCG PCL's value of 3.78% is 42.9% below this industry median. Based on the distribution chart, SPCG PCL ranks #297 out of 436 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, SPCG PCL has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does SPCG PCL's ROC (Joel Greenblatt) % compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, SPCG PCL ranks #297 out of 436 companies for ROC (Joel Greenblatt) %. This places SPCG PCL in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 6.62. SPCG PCL's value of 3.78% is 42.9% below this benchmark. Historically, SPCG PCL's own ROC (Joel Greenblatt) % has ranged from 2.61 to 20.35 over the past decade. While the company's 10-year median is 17.86 vs. the industry median of 6.62, SPCG PCL has consistently been below 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 6.62, based on 436 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. SPCG PCL's current ROC (Joel Greenblatt) % of 3.78% is 42.9% below 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 SPCG PCL and its competitors. For the Utilities - Independent Power Producers industry, the median ROC (Joel Greenblatt) % is 6.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPCG PCL's current ROC (Joel Greenblatt) % is 3.78%, which is 79% below median its own 10-year median of 17.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPCG PCL stock overvalued right now?
SPCG PCL (BKK:SPCG-R) has a current ROC (Joel Greenblatt) % of 3.78%. The stock's GF Value™ is ฿5.90, compared to a current price of ฿8.85 — trading 50% above its estimated fair value. The current ROC (Joel Greenblatt) % is 3.78%, which is 79% below median its 10-year median of 17.86 and 42.9% below the Utilities - Independent Power Producers industry median of 6.62. SPCG PCL's overall GF Score™ is 65/100 with 8 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 SPCG PCL (BKK:SPCG-R), the current ROC (Joel Greenblatt) % is 3.78% 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 SPCG PCL (BKK:SPCG-R) Overvalued in 2026?
Based on GuruFocus' analysis, SPCG PCL stock appears to be overvalued.
The current stock price of ฿8.85 is trading 50% above its estimated GF Value™ of ฿5.90.
Key valuation signals for BKK:SPCG-R:
ROC (Joel Greenblatt) %: 3.78% (79% below median its 10-year median of 17.86)
GF Value™: ฿5.90 vs. price of ฿8.85 (50% above fair value)
Industry Position: 42.9% below the Utilities - Independent Power Producers median (#297 of 436)
No single metric tells the full story. See the BKK:SPCG-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPCG PCL is a holding company. The principal activities and reportable segments of the group are one production and distribution of electricity from solar energy, second the manufacture, trading, and installation service of roof sheets and solar roof, and Others. The majority of revenue is generated from the Production and distribution of electricity from solar energy.
65GF Score
Get the complete analysis for BKK:SPCG-R
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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