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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. Tiangong International Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 8.59%.
The historical rank and industry rank for Tiangong International Co's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:34T1'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.23 Med: 9.55 Max: 16.66
Current: 8.84
During the past 13 years, Tiangong International Co's highest ROC (Joel Greenblatt) % was 16.66%. The lowest was 4.23%. And the median was 9.55%.
FRA:34T1's ROC (Joel Greenblatt) % is ranked better than 55.38% of 632
companies
in the Steel industry
Industry Median: 7.26
vs FRA:34T1: 8.84
Tiangong International Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -10.90% per year.
Tiangong International Co (FRA:34T1) 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.
Tiangong International Co ROC (Joel Greenblatt) % Related Terms
Tiangong International Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Tiangong International Co'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.
Tiangong International Co ROC (Joel Greenblatt) % Chart
FRA:34T1 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Tiangong International Co'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.
Tiangong International Co ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Tiangong International Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tiangong International Co's ROC (Joel Greenblatt) % falls into.
Tiangong International Co 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 8.59% mean?
Tiangong International Co (FRA:34T1) has a ROC (Joel Greenblatt) % of 8.59% 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 Tiangong International Co and its competitors. This is 10% below median its historical median of 9.55. Over the past decade, Tiangong International Co's ROC (Joel Greenblatt) % has ranged from 4.23 to 16.66. According to the industry distribution chart, Tiangong International Co ranks #282 out of 632 companies in the Steel industry, placing it in the top 44.6%.
Is Tiangong International Co's ROC (Joel Greenblatt) % too high?
Tiangong International Co's current ROC (Joel Greenblatt) % of 8.59% is 10% below median its 10-year median of 9.55. Over the past 10 years, this metric has ranged from a low of 4.23 to a high of 16.66. The Steel industry median ROC (Joel Greenblatt) % is 7.26. Tiangong International Co's value of 8.59% is 18.3% above this industry median. Based on the distribution chart, Tiangong International Co ranks #282 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, Tiangong International Co has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Tiangong International Co's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Tiangong International Co ranks #282 out of 632 companies for ROC (Joel Greenblatt) %. This puts Tiangong International Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.26. Tiangong International Co's value of 8.59% is 18.3% above this benchmark. Historically, Tiangong International Co's own ROC (Joel Greenblatt) % has ranged from 4.23 to 16.66 over the past decade. While the company's 10-year median is 9.55 vs. the industry median of 7.26, Tiangong International Co 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 7.26, based on 632 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. Tiangong International Co's current ROC (Joel Greenblatt) % of 8.59% is 18.3% 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 Tiangong International Co and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tiangong International Co's current ROC (Joel Greenblatt) % is 8.59%, which is 10% below median its own 10-year median of 9.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tiangong International Co stock overvalued right now?
Tiangong International Co (FRA:34T1) has a current ROC (Joel Greenblatt) % of 8.59%. The stock's GF Value™ is €0.27, compared to a current price of €0.33 — trading 23% above its estimated fair value. The current ROC (Joel Greenblatt) % is 8.59%, which is 10% below median its 10-year median of 9.55 and 18.3% above the Steel industry median of 7.26. Tiangong International Co's overall GF Score™ is 74/100 with 7 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 Tiangong International Co (FRA:34T1), the current ROC (Joel Greenblatt) % is 8.59% 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 Tiangong International Co (FRA:34T1) Overvalued in 2026?
Based on GuruFocus' analysis, Tiangong International Co stock appears to be overvalued.
The current stock price of €0.33 is trading 23% above its estimated GF Value™ of €0.27.
Key valuation signals for FRA:34T1:
ROC (Joel Greenblatt) %: 8.59% (10% below median its 10-year median of 9.55)
GF Value™: €0.27 vs. price of €0.33 (23% above fair value)
Industry Position: 18.3% above the Steel median (#282 of 632)
No single metric tells the full story. See the FRA:34T1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tiangong International Co Ltd is engaged in the manufacturing and sales of high alloy steel, cutting tools, titanium alloy, trading of goods, and others. The reportable segments of the company are, the DS segment, which derives majority revenue, manufactures and sells materials that are used in the die set manufacturing industry; the HSS segment manufactures and sells materials that are used in the tools manufacturing industry; the cutting tools segment manufactures and sells HSS and carbide cutting tools to the tooling industry; the Titanium alloy segment manufactures and sells titanium alloys to the titanium industry; and the Others segment assembles and sells power tool kits. The company operates in PRC, North America, Europe, Asia (other than the PRC), and other regions.
74GF Score
Get the complete analysis for FRA:34T1
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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