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Micronics Japan CoFRA:MJ3 -11.83%85 ROC (Joel Greenblatt) % is 51.32% as of Dec. 2025, which is 96% above its 10-year median of 26.20. GuruFocus rates FRA:MJ3 with a GF Score™ of 85/100 and a GF Value™ of €36.74 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,028 Semiconductors companies, Micronics Japan Co ranks better than 85.51% 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. Micronics Japan Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 51.32%.
The historical rank and industry rank for Micronics Japan Co's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:MJ3'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.72 Med: 26.2 Max: 86.3
Current: 52.36
During the past 13 years, Micronics Japan Co's highest ROC (Joel Greenblatt) % was 86.30%. The lowest was 12.72%. And the median was 26.20%.
FRA:MJ3's ROC (Joel Greenblatt) % is ranked better than 85.51% of 1028
companies
in the Semiconductors industry
Industry Median: 8.265
vs FRA:MJ3: 52.36
Micronics Japan Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 17.90% per year.
Micronics Japan Co (FRA:MJ3) 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.
Micronics Japan Co ROC (Joel Greenblatt) % Related Terms
Micronics Japan Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Micronics Japan 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:MJ3 vs AMAT, LRCX, KLAC: ROC (Joel Greenblatt) % Comparison
For the Semiconductor Equipment & Materials subindustry, Micronics Japan 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.
Micronics Japan Co ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Micronics Japan Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Micronics Japan Co's ROC (Joel Greenblatt) % falls into.
Micronics Japan 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 (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 51.32% mean?
Micronics Japan Co (FRA:MJ3) has a ROC (Joel Greenblatt) % of 51.32% 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 Micronics Japan Co and its competitors. This is 96% above median its historical median of 26.20. Over the past decade, Micronics Japan Co's ROC (Joel Greenblatt) % has ranged from 12.72 to 86.30. According to the industry distribution chart, Micronics Japan Co ranks #149 out of 1028 companies in the Semiconductors industry, placing it in the top 14.5%.
Is Micronics Japan Co's ROC (Joel Greenblatt) % too high?
Micronics Japan Co's current ROC (Joel Greenblatt) % of 51.32% is 96% above median its 10-year median of 26.20. Over the past 10 years, this metric has ranged from a low of 12.72 to a high of 86.30. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.27. Micronics Japan Co's value of 51.32% is 520.9% above this industry median. Based on the distribution chart, Micronics Japan Co ranks #149 out of 1028 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Micronics Japan Co has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Micronics Japan Co's ROC (Joel Greenblatt) % compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Micronics Japan Co ranks #149 out of 1028 companies for ROC (Joel Greenblatt) %. This places Micronics Japan Co in the top 15% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.27. Micronics Japan Co's value of 51.32% is 520.9% above this benchmark. Historically, Micronics Japan Co's own ROC (Joel Greenblatt) % has ranged from 12.72 to 86.30 over the past decade. While the company's 10-year median is 26.20 vs. the industry median of 8.27, Micronics Japan 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 Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.27, based on 1,028 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. Micronics Japan Co's current ROC (Joel Greenblatt) % of 51.32% is 520.9% 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 Micronics Japan Co and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Micronics Japan Co's current ROC (Joel Greenblatt) % is 51.32%, which is 96% above median its own 10-year median of 26.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Micronics Japan Co stock overvalued right now?
Based on GuruFocus' analysis, Micronics Japan Co (FRA:MJ3) is currently considered Significantly Overvalued. The stock's GF Value™ is €36.74, compared to a current price of €74.50 — trading 102.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 51.32%, which is 96% above median its 10-year median of 26.20 and 520.9% above the Semiconductors industry median of 8.27. Micronics Japan Co's overall GF Score™ is 85/100 with 1 warning sign 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 Micronics Japan Co (FRA:MJ3), the current ROC (Joel Greenblatt) % is 51.32% 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 Micronics Japan Co (FRA:MJ3) Overvalued in 2026?
Based on GuruFocus' analysis, Micronics Japan Co stock appears to be overvalued.
The current stock price of €74.50 is trading 102.8% above its estimated GF Value™ of €36.74.
GuruFocus considers Micronics Japan Co to be Significantly Overvalued.
Key valuation signals for FRA:MJ3:
ROC (Joel Greenblatt) %: 51.32% (96% above median its 10-year median of 26.20)
GF Value™: €36.74 vs. price of €74.50 (102.8% above fair value)
Industry Position: 520.9% above the Semiconductors median (#149 of 1028)
No single metric tells the full story. See the FRA:MJ3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Micronics Japan Co Ltd is a Japanese company which is engaged in manufacturing of semiconductor and related products. It mainly produces probe cards for testing the electrical properties of wafers, testing equipment and test sockets for property testing after packaging, and a wafer prober, which is used for evaluation and analysis of devices. The company also offers products such as array probers, which are used for testing the electrical properties of flat panel displays (FDP), automated optical inspection equipment used for the display inspection of panels, and probe units that send electrical signals to test panels. Its product portfolio includes probe cards, package probe, semiconductor test equipment, automated optical inspection equipment, probe units, and FDP prober products.
85GF Score
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