Thantawan Industry PCLBKK:THIP-R 72 ROC (Joel Greenblatt) % is 8.91% as of Mar. 2026, which is 69% below its 10-year median of 28.84. GuruFocus rates BKK:THIP-R with a GF Score™ of 72/100 and a GF Value™ of ฿36.74. The stock has 6 warning signs investors should review. Among 401 Packaging & Containers companies, Thantawan Industry PCL ranks better than 58.6% 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. Thantawan Industry PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.91%.
The historical rank and industry rank for Thantawan Industry PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
BKK:THIP-R'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 11.5 Med: 28.84 Max: 58.91
Current: 11.5
During the past 13 years, Thantawan Industry PCL's highest ROC (Joel Greenblatt) % was 58.91%. The lowest was 11.50%. And the median was 28.84%.
BKK:THIP-R's ROC (Joel Greenblatt) % is ranked better than 58.6% of 401
companies
in the Packaging & Containers industry
Industry Median: 8.95
vs BKK:THIP-R: 11.50
Thantawan Industry PCL's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -13.70% per year.
Thantawan Industry PCL (BKK:THIP-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.
Thantawan Industry PCL ROC (Joel Greenblatt) % Related Terms
Thantawan Industry PCL ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Thantawan Industry 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.
Thantawan Industry PCL ROC (Joel Greenblatt) % Chart
BKK:THIP-R vs SW, PKG, AMCR: ROC (Joel Greenblatt) % Comparison
For the Packaging & Containers subindustry, Thantawan Industry 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.
Thantawan Industry PCL ROC (Joel Greenblatt) % vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Thantawan Industry PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Thantawan Industry PCL's ROC (Joel Greenblatt) % falls into.
Thantawan Industry 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 8.91% mean?
Thantawan Industry PCL (BKK:THIP-R) has a ROC (Joel Greenblatt) % of 8.91% 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 Thantawan Industry PCL and its competitors. This is 69% below median its historical median of 28.84. Over the past decade, Thantawan Industry PCL's ROC (Joel Greenblatt) % has ranged from 11.50 to 58.91. According to the industry distribution chart, Thantawan Industry PCL ranks #166 out of 401 companies in the Packaging & Containers industry, placing it in the top 41.4%.
Is Thantawan Industry PCL's ROC (Joel Greenblatt) % too high?
Thantawan Industry PCL's current ROC (Joel Greenblatt) % of 8.91% is 69% below median its 10-year median of 28.84. Over the past 10 years, this metric has ranged from a low of 11.50 to a high of 58.91. The Packaging & Containers industry median ROC (Joel Greenblatt) % is 8.95. Thantawan Industry PCL's value of 8.91% is 0.4% below this industry median. Based on the distribution chart, Thantawan Industry PCL ranks #166 out of 401 companies in the Packaging & Containers industry, which is above the industry midpoint. Overall, Thantawan Industry PCL has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Thantawan Industry PCL's ROC (Joel Greenblatt) % compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Thantawan Industry PCL ranks #166 out of 401 companies for ROC (Joel Greenblatt) %. This puts Thantawan Industry PCL in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.95. Thantawan Industry PCL's value of 8.91% is 0.4% below this benchmark. Historically, Thantawan Industry PCL's own ROC (Joel Greenblatt) % has ranged from 11.50 to 58.91 over the past decade. While the company's 10-year median is 28.84 vs. the industry median of 8.95, Thantawan Industry 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 a Packaging & Containers company?
The median ROC (Joel Greenblatt) % among Packaging & Containers companies is 8.95, based on 401 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. Thantawan Industry PCL's current ROC (Joel Greenblatt) % of 8.91% is 0.4% 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 Thantawan Industry PCL and its competitors. For the Packaging & Containers industry, the median ROC (Joel Greenblatt) % is 8.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thantawan Industry PCL's current ROC (Joel Greenblatt) % is 8.91%, which is 69% below median its own 10-year median of 28.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thantawan Industry PCL stock overvalued right now?
Thantawan Industry PCL (BKK:THIP-R) has a current ROC (Joel Greenblatt) % of 8.91%. The stock's GF Value™ is ฿36.74, compared to a current price of ฿23.00 — trading 37.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 8.91%, which is 69% below median its 10-year median of 28.84 and 0.4% below the Packaging & Containers industry median of 8.95. Thantawan Industry PCL's overall GF Score™ is 72/100 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 Thantawan Industry PCL (BKK:THIP-R), the current ROC (Joel Greenblatt) % is 8.91% 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 Thantawan Industry PCL (BKK:THIP-R) Overvalued in 2026?
Based on GuruFocus' analysis, Thantawan Industry PCL stock appears to be undervalued.
The current stock price of ฿23.00 is trading 37.4% below its estimated GF Value™ of ฿36.74.
Key valuation signals for BKK:THIP-R:
ROC (Joel Greenblatt) %: 8.91% (69% below median its 10-year median of 28.84)
GF Value™: ฿36.74 vs. price of ฿23.00 (37.4% below fair value)
Industry Position: 0.4% below the Packaging & Containers median (#166 of 401)
No single metric tells the full story. See the BKK:THIP-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thantawan Industry PCL is a Thailand-based company that engages in the manufacturing and selling of plastic products, such as general plastic bags, thin bags, and drinking straws. The Group manufactures and sells plastic products, which are divided into two main products: plastic bags and straw products. Other products are Zipper tape and resin scrap, etc. Key revenue is generated from Plastic bag. The geographical area of its operation is Thailand and Vietnam.
72GF Score
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