Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Hokkaido Gas CoFRA:H8T +1.23%74 ROC (Joel Greenblatt) % is 11.57% as of Jun. 2026, which is 85% above its 10-year median of 6.25. GuruFocus rates FRA:H8T with a GF Score™ of 74/100 and a GF Value™ of €3.25. The stock has 3 warning signs investors should review. Among 505 Utilities - Regulated companies, Hokkaido Gas Co ranks better than 50.69% 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. Hokkaido Gas Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 11.57%.
The historical rank and industry rank for Hokkaido Gas Co's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:H8T'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.19 Med: 6.25 Max: 13.24
Current: 11
During the past 13 years, Hokkaido Gas Co's highest ROC (Joel Greenblatt) % was 13.24%. The lowest was 2.19%. And the median was 6.25%.
FRA:H8T's ROC (Joel Greenblatt) % is ranked better than 50.69% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.84
vs FRA:H8T: 11.00
Hokkaido Gas Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 18.90% per year.
Hokkaido Gas Co (FRA:H8T) 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.
Hokkaido Gas Co ROC (Joel Greenblatt) % Related Terms
Hokkaido Gas Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Hokkaido Gas 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.
FRA:H8T vs ATO, NI: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Gas subindustry, Hokkaido Gas 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.
Hokkaido Gas Co ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hokkaido Gas Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hokkaido Gas Co's ROC (Joel Greenblatt) % falls into.
Hokkaido Gas 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 four times the quarterly (Jun. 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 11.57% mean?
Hokkaido Gas Co (FRA:H8T) has a ROC (Joel Greenblatt) % of 11.57% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Hokkaido Gas Co and its competitors. This is 85% above median its historical median of 6.25. Over the past decade, Hokkaido Gas Co's ROC (Joel Greenblatt) % has ranged from 2.19 to 13.24. According to the industry distribution chart, Hokkaido Gas Co ranks #249 out of 505 companies in the Utilities - Regulated industry, placing it in the top 49.3%.
Is Hokkaido Gas Co's ROC (Joel Greenblatt) % too high?
Hokkaido Gas Co's current ROC (Joel Greenblatt) % of 11.57% is 85% above median its 10-year median of 6.25. Over the past 10 years, this metric has ranged from a low of 2.19 to a high of 13.24. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.84. Hokkaido Gas Co's value of 11.57% is 6.7% above this industry median. Based on the distribution chart, Hokkaido Gas Co ranks #249 out of 505 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Hokkaido Gas Co has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Hokkaido Gas Co's ROC (Joel Greenblatt) % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hokkaido Gas Co ranks #249 out of 505 companies for ROC (Joel Greenblatt) %. This puts Hokkaido Gas Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.84. Hokkaido Gas Co's value of 11.57% is 6.7% above this benchmark. Historically, Hokkaido Gas Co's own ROC (Joel Greenblatt) % has ranged from 2.19 to 13.24 over the past decade. While the company's 10-year median is 6.25 vs. the industry median of 10.84, Hokkaido Gas 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 an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.84, based on 505 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. Hokkaido Gas Co's current ROC (Joel Greenblatt) % of 11.57% is 6.7% 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 Hokkaido Gas Co and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hokkaido Gas Co's current ROC (Joel Greenblatt) % is 11.57%, which is 85% above median its own 10-year median of 6.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hokkaido Gas Co stock overvalued right now?
Hokkaido Gas Co (FRA:H8T) has a current ROC (Joel Greenblatt) % of 11.57%. The stock's GF Value™ is €3.25, compared to a current price of €4.12 — trading 26.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 11.57%, which is 85% above median its 10-year median of 6.25 and 6.7% above the Utilities - Regulated industry median of 10.84. Hokkaido Gas Co's overall GF Score™ is 74/100 with 3 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 Hokkaido Gas Co (FRA:H8T), the current ROC (Joel Greenblatt) % is 11.57% as of Jun. 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 Hokkaido Gas Co (FRA:H8T) Overvalued in 2026?
Based on GuruFocus' analysis, Hokkaido Gas Co stock appears to be overvalued.
The current stock price of €4.12 is trading 26.8% above its estimated GF Value™ of €3.25.
Key valuation signals for FRA:H8T:
ROC (Joel Greenblatt) %: 11.57% (85% above median its 10-year median of 6.25)
GF Value™: €3.25 vs. price of €4.12 (26.8% above fair value)
Industry Position: 6.7% above the Utilities - Regulated median (#249 of 505)
No single metric tells the full story. See the FRA:H8T stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hokkaido Gas Co Ltd is a Japan-based company operating in the utility sector. Its business activities included gas, heat supply, power supply, and sale of gas by-products. The company is also engaged in the production and sale of gas appliances and related construction work. Hokkaido serves to individual and corporate customers in areas throughout Japan including Sapporo, Otaru, Hakodate, Chitose, Ishikari, Kitahiroshima, Eniwa, Hokuto, and Kitami.
74GF Score
Get the complete analysis for FRA:H8T
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:H8T has been successfully added to your 
