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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. China Aoyuan Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -444.74%.
The historical rank and industry rank for China Aoyuan Group's ROC (Joel Greenblatt) % or its related term are showing as below:
CAOYF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -277.78 Med: 14.27 Max: 27.75
Current: -277.78
During the past 13 years, China Aoyuan Group's highest ROC (Joel Greenblatt) % was 27.75%. The lowest was -277.78%. And the median was 14.27%.
CAOYF's ROC (Joel Greenblatt) % is ranked worse than 95.27% of 1755
companies
in the Real Estate industry
Industry Median: 13.16
vs CAOYF: -277.78
China Aoyuan Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
China Aoyuan Group (OTCPK:CAOYF) 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.
China Aoyuan Group ROC (Joel Greenblatt) % Related Terms
China Aoyuan Group ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for China Aoyuan Group'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.
China Aoyuan Group ROC (Joel Greenblatt) % Competitor Comparison
For the Real Estate - Development subindustry, China Aoyuan Group'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.
China Aoyuan Group ROC (Joel Greenblatt) % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, China Aoyuan Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where China Aoyuan Group's ROC (Joel Greenblatt) % falls into.
China Aoyuan Group 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 two times the semi-annual (Dec. 2025) 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 -444.74% mean?
China Aoyuan Group (CAOYF) has a ROC (Joel Greenblatt) % of -444.74% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on China Aoyuan Group and its competitors. According to the industry distribution chart, China Aoyuan Group ranks #1672 out of 1755 companies in the Real Estate industry, placing it in the top 95.3%.
Is China Aoyuan Group's ROC (Joel Greenblatt) % too high?
China Aoyuan Group's current ROC (Joel Greenblatt) % is -444.74%. Based on the distribution chart, China Aoyuan Group ranks #1672 out of 1755 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, China Aoyuan Group has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does China Aoyuan Group's ROC (Joel Greenblatt) % compare to competitors?
According to the Real Estate industry distribution chart, China Aoyuan Group ranks #1672 out of 1755 companies for ROC (Joel Greenblatt) %. This places China Aoyuan Group in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 13.16. 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 Real Estate company?
The median ROC (Joel Greenblatt) % among Real Estate companies is 13.16, based on 1,755 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. 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 China Aoyuan Group and its competitors. For the Real Estate industry, the median ROC (Joel Greenblatt) % is 13.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Aoyuan Group's current ROC (Joel Greenblatt) % is -444.74%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Aoyuan Group stock overvalued right now?
China Aoyuan Group (CAOYF) has a current ROC (Joel Greenblatt) % of -444.74%. The stock's GF Value™ is $0.40, compared to a current price of $0.21 — trading 48.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is -444.74%. China Aoyuan Group's overall GF Score™ is 12/100 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 China Aoyuan Group (CAOYF), the current ROC (Joel Greenblatt) % is -444.74% as of Dec. 2025. 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 China Aoyuan Group (CAOYF) Overvalued in 2026?
Based on GuruFocus' analysis, China Aoyuan Group stock appears to be undervalued.
The current stock price of $0.21 is trading 48.3% below its estimated GF Value™ of $0.40.
Key valuation signals for CAOYF:
ROC (Joel Greenblatt) %: -444.74%
GF Value™: $0.40 vs. price of $0.21 (48.3% below fair value)
No single metric tells the full story. See the CAOYF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Aoyuan Group Ltd is a developer and operator of composite real estate in China. It is also engaged in the health-themed related industries to promote a healthy lifestyle in the city. Its segments include Property development engaged in development and sale of properties; Property investment engaged in lease of investment properties; and Others engaged in hotel operation, provision of services and sales of goods. It derives the majority of the revenue from Property development segment. Geographically, it operates in Mainland China, Hong Kong, and Canda with majority of revenue deriving from Mainland China.
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