Japan Exchange GroupFRA:OSK +2.63%86 ROC (Joel Greenblatt) % is 1,107.96% as of Mar. 2026, which is 41% above its 10-year median of 784.50. GuruFocus rates FRA:OSK with a GF Score™ of 86/100 and a GF Value™ of €9.78 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 678 Capital Markets companies, Japan Exchange Group ranks better than 91.74% 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. Japan Exchange Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1,107.96%.
The historical rank and industry rank for Japan Exchange Group's ROC (Joel Greenblatt) % or its related term are showing as below:
FRA:OSK'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 567.54 Med: 784.5 Max: 1412.18
Current: 957.01
During the past 13 years, Japan Exchange Group's highest ROC (Joel Greenblatt) % was 1412.18%. The lowest was 567.54%. And the median was 784.50%.
FRA:OSK's ROC (Joel Greenblatt) % is ranked better than 91.74% of 678
companies
in the Capital Markets industry
Industry Median: 34.64
vs FRA:OSK: 957.01
Japan Exchange Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.00% per year.
Japan Exchange Group (FRA:OSK) 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.
Japan Exchange Group ROC (Joel Greenblatt) % Related Terms
Japan Exchange Group ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Japan Exchange 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.
Japan Exchange Group ROC (Joel Greenblatt) % Chart
FRA:OSK vs SPGI, CME, MCO: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, Japan Exchange 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.
Japan Exchange Group ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Japan Exchange Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Japan Exchange Group's ROC (Joel Greenblatt) % falls into.
Japan Exchange 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 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 1,107.96% mean?
Japan Exchange Group (FRA:OSK) has a ROC (Joel Greenblatt) % of 1,107.96% 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 Japan Exchange Group and its competitors. This is 41% above median its historical median of 784.50. Over the past decade, Japan Exchange Group's ROC (Joel Greenblatt) % has ranged from 567.54 to 1,412.18. According to the industry distribution chart, Japan Exchange Group ranks #56 out of 678 companies in the Capital Markets industry, placing it in the top 8.3%.
Is Japan Exchange Group's ROC (Joel Greenblatt) % too high?
Japan Exchange Group's current ROC (Joel Greenblatt) % of 1,107.96% is 41% above median its 10-year median of 784.50. Over the past 10 years, this metric has ranged from a low of 567.54 to a high of 1,412.18. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.64. Japan Exchange Group's value of 1,107.96% is 3098.5% above this industry median. Based on the distribution chart, Japan Exchange Group ranks #56 out of 678 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Japan Exchange Group has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Exchange Group's ROC (Joel Greenblatt) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Japan Exchange Group ranks #56 out of 678 companies for ROC (Joel Greenblatt) %. This places Japan Exchange Group in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.64. Japan Exchange Group's value of 1,107.96% is 3098.5% above this benchmark. Historically, Japan Exchange Group's own ROC (Joel Greenblatt) % has ranged from 567.54 to 1,412.18 over the past decade. While the company's 10-year median is 784.50 vs. the industry median of 34.64, Japan Exchange Group 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.64, based on 678 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. Japan Exchange Group's current ROC (Joel Greenblatt) % of 1,107.96% is 3098.5% 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 Japan Exchange Group and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Exchange Group's current ROC (Joel Greenblatt) % is 1,107.96%, which is 41% above median its own 10-year median of 784.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, Japan Exchange Group (FRA:OSK) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.78, compared to a current price of €11.70 — trading 19.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 1,107.96%, which is 41% above median its 10-year median of 784.50 and 3098.5% above the Capital Markets industry median of 34.64. Japan Exchange Group's overall GF Score™ is 86/100 with 8 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 Japan Exchange Group (FRA:OSK), the current ROC (Joel Greenblatt) % is 1,107.96% 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 Japan Exchange Group (FRA:OSK) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Exchange Group stock appears to be overvalued.
The current stock price of €11.70 is trading 19.6% above its estimated GF Value™ of €9.78.
GuruFocus considers Japan Exchange Group to be Modestly Overvalued.
Key valuation signals for FRA:OSK:
ROC (Joel Greenblatt) %: 1,107.96% (41% above median its 10-year median of 784.50)
GF Value™: €9.78 vs. price of €11.70 (19.6% above fair value)
Industry Position: 3098.5% above the Capital Markets median (#56 of 678)
No single metric tells the full story. See the FRA:OSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Exchange Group is a vertically integrated securities exchange business, which includes the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. JPX ranks among the top five largest stock exchange operators in the world by market capitalization, and its Nikkei 225 and Topix derivatives products are some of the most widely traded derivatives products in the world.
86GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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