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. PTT Exploration & Production PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.29%.
The historical rank and industry rank for PTT Exploration & Production PCL's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:NVAL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.65 Med: 19.16 Max: 28.77
Current: 18.06
During the past 13 years, PTT Exploration & Production PCL's highest ROC (Joel Greenblatt) % was 28.77%. The lowest was 6.65%. And the median was 19.16%.
FRA:NVAL's ROC (Joel Greenblatt) % is ranked better than 72% of 1000
companies
in the Oil & Gas industry
Industry Median: 8.415
vs FRA:NVAL: 18.06
PTT Exploration & Production PCL (FRA:NVAL) 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.
* 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.
PTT Exploration & Production PCL ROC (Joel Greenblatt) % Chart
FRA:NVAL vs COP, EOG, FANG: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas E&P subindustry, PTT Exploration & Production 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.
PTT Exploration & Production PCL ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PTT Exploration & Production PCL's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PTT Exploration & Production PCL's ROC (Joel Greenblatt) % falls into.
PTT Exploration & Production 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 17.29% mean?
PTT Exploration & Production PCL (FRA:NVAL) has a ROC (Joel Greenblatt) % of 17.29% 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 PTT Exploration & Production PCL and its competitors. This is 10% below median its historical median of 19.16. Over the past decade, PTT Exploration & Production PCL's ROC (Joel Greenblatt) % has ranged from 6.65 to 28.77. According to the industry distribution chart, PTT Exploration & Production PCL ranks #280 out of 1000 companies in the Oil & Gas industry, placing it in the top 28%.
Is PTT Exploration & Production PCL's ROC (Joel Greenblatt) % too high?
PTT Exploration & Production PCL's current ROC (Joel Greenblatt) % of 17.29% is 10% below median its 10-year median of 19.16. Over the past 10 years, this metric has ranged from a low of 6.65 to a high of 28.77. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.42. PTT Exploration & Production PCL's value of 17.29% is 105.5% above this industry median. Based on the distribution chart, PTT Exploration & Production PCL ranks #280 out of 1000 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, PTT Exploration & Production PCL has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does PTT Exploration & Production PCL's ROC (Joel Greenblatt) % compare to COP and EOG?
According to the Oil & Gas industry distribution chart, PTT Exploration & Production PCL ranks #280 out of 1000 companies for ROC (Joel Greenblatt) %. This puts PTT Exploration & Production PCL in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.42. PTT Exploration & Production PCL's value of 17.29% is 105.5% above this benchmark. Historically, PTT Exploration & Production PCL's own ROC (Joel Greenblatt) % has ranged from 6.65 to 28.77 over the past decade. While the company's 10-year median is 19.16 vs. the industry median of 8.42, PTT Exploration & Production PCL 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 Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.42, based on 1,000 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. PTT Exploration & Production PCL's current ROC (Joel Greenblatt) % of 17.29% is 105.5% 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 PTT Exploration & Production PCL and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PTT Exploration & Production PCL's current ROC (Joel Greenblatt) % is 17.29%, which is 10% below median its own 10-year median of 19.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PTT Exploration & Production PCL stock overvalued right now?
PTT Exploration & Production PCL (FRA:NVAL) has a current ROC (Joel Greenblatt) % of 17.29%. The stock's GF Value™ is €3.44, compared to a current price of €3.40 — trading 1.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 17.29%, which is 10% below median its 10-year median of 19.16 and 105.5% above the Oil & Gas industry median of 8.42. PTT Exploration & Production PCL's overall GF Score™ is 85/100 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 PTT Exploration & Production PCL (FRA:NVAL), the current ROC (Joel Greenblatt) % is 17.29% 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 PTT Exploration & Production PCL (FRA:NVAL) Overvalued in 2026?
Based on GuruFocus' analysis, PTT Exploration & Production PCL stock appears to be undervalued.
The current stock price of €3.40 is trading 1.2% below its estimated GF Value™ of €3.44.
Key valuation signals for FRA:NVAL:
ROC (Joel Greenblatt) %: 17.29% (10% below median its 10-year median of 19.16)
GF Value™: €3.44 vs. price of €3.40 (1.2% below fair value)
Industry Position: 105.5% above the Oil & Gas median (#280 of 1000)
No single metric tells the full story. See the FRA:NVAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PTT Exploration & Production PCL Business Description
PTT Exploration & Production PCL is engaged in the exploration and production of petroleum in Thailand and overseas, and related businesses. Its segments include Exploration and production, which operates in oil and gas exploration and production both domestically and overseas, including overseas gas transportation pipeline, either as an operator or as a joint venture partner with international oil and gas companies. Its domestic projects are located in the Gulf of Thailand. Overseas projects are located in Southeast Asia, the Middle East, Africa, and other regions. Other businesses and corporate consist of investments in other businesses, such as new businesses for energy transition, related businesses, and corporate.
85GF Score
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