The Steel PCLBKK:THE-R 31 ROC (Joel Greenblatt) % is 14.75% as of Mar. 2026, which is 4114% above its 10-year median of 0.35. GuruFocus rates BKK:THE-R with a GF Score™ of 31/100 and a GF Value™ of ฿0.81. The stock has 8 warning signs investors should review. Among 633 Steel companies, The Steel PCL ranks worse than 66.03% 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. The Steel PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.75%.
The historical rank and industry rank for The Steel PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:THE-R'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -3.28 Med: 0.35 Max: 37.3
Current: 2.93
During the past 13 years, The Steel PCL's highest ROC (Joel Greenblatt) % was 37.30%. The lowest was -3.28%. And the median was 0.35%.
BKK:THE-R's ROC (Joel Greenblatt) % is ranked worse than 66.03% of 633
companies
in the Steel industry
Industry Median: 6.93
vs BKK:THE-R: 2.93
The Steel PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The Steel PCL (BKK:THE-R) 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.
The Steel PCL ROC (Joel Greenblatt) % Related Terms
The Steel PCL ROC (Joel Greenblatt) % Historical Data
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The historical data trend for The Steel 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:THE-R vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, The Steel 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.
The Steel PCL ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, The Steel PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where The Steel 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 14.75% mean?
The Steel PCL (BKK:THE-R) has a ROC (Joel Greenblatt) % of 14.75% 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 The Steel PCL and its competitors. This is 4114% above median its historical median of 0.35. According to the industry distribution chart, The Steel PCL ranks #418 out of 633 companies in the Steel industry, placing it in the top 66%.
Is The Steel PCL's ROC (Joel Greenblatt) % too high?
The Steel PCL's current ROC (Joel Greenblatt) % of 14.75% is 4114% above median its 10-year median of 0.35. The Steel industry median ROC (Joel Greenblatt) % is 6.93. The Steel PCL's value of 14.75% is 112.8% above this industry median. Based on the distribution chart, The Steel PCL ranks #418 out of 633 companies in the Steel industry, which is below the industry midpoint. Overall, The Steel PCL has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does The Steel PCL's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, The Steel PCL ranks #418 out of 633 companies for ROC (Joel Greenblatt) %. This places The Steel PCL in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 6.93. The Steel PCL's value of 14.75% is 112.8% above this benchmark. While the company's 10-year median is 0.35 vs. the industry median of 6.93, The Steel 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 6.93, based on 633 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. The Steel PCL's current ROC (Joel Greenblatt) % of 14.75% is 112.8% 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 The Steel PCL and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Steel PCL's current ROC (Joel Greenblatt) % is 14.75%, which is 4114% above median its own 10-year median of 0.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Steel PCL stock overvalued right now?
The Steel PCL (BKK:THE-R) has a current ROC (Joel Greenblatt) % of 14.75%. The stock's GF Value™ is ฿0.81, compared to a current price of ฿0.83 — trading 2.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 14.75%, which is 4114% above median its 10-year median of 0.35 and 112.8% above the Steel industry median of 6.93. The Steel PCL's overall GF Score™ is 31/100 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 The Steel PCL (BKK:THE-R), the current ROC (Joel Greenblatt) % is 14.75% 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 The Steel PCL (BKK:THE-R) Overvalued in 2026?
Based on GuruFocus' analysis, The Steel PCL stock appears to be overvalued.
The current stock price of ฿0.83 is trading 2.8% above its estimated GF Value™ of ฿0.81.
Key valuation signals for BKK:THE-R:
ROC (Joel Greenblatt) %: 14.75% (4114% above median its 10-year median of 0.35)
GF Value™: ฿0.81 vs. price of ฿0.83 (2.8% above fair value)
Industry Position: 112.8% above the Steel median (#418 of 633)
No single metric tells the full story. See the BKK:THE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Steel PCL is principally engaged in the selling and transforming hot rolled steel sheets and coils and other structural steels and logistic services of steel. Its product portfolio includes hot-rolled coils, and processed forms such as slit coils, steel sheets, hot-formed structural steel, and cold-formed structural steel, as well as other steel products. In addition, the company also processes certain steel products, including steel sheets, slit coils, flat steel, folded angle steel, folded channel steel, steel pipes, and C-shaped structural steel. The company operates in two reportable segments: Revenue from sales of steels, which accounts for a majority of its revenue, and Revenue from logistic services. Geographically, it is managed and operates principally in Thailand.
31GF Score
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