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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. PT Steel Pipe Industry of Indonesia Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.78%.
FRA:S08'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.96 Med: 7.2 Max: 12.38
Current: 11.5
During the past 13 years, PT Steel Pipe Industry of Indonesia Tbk's highest ROC (Joel Greenblatt) % was 12.38%. The lowest was 3.96%. And the median was 7.20%.
FRA:S08's ROC (Joel Greenblatt) % is ranked better than 65.03% of 632
companies
in the Steel industry
Industry Median: 7.185
vs FRA:S08: 11.50
PT Steel Pipe Industry of Indonesia Tbk (FRA:S08) 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.
PT Steel Pipe Industry of Indonesia Tbk ROC (Joel Greenblatt) % Chart
PT Steel Pipe Industry of Indonesia Tbk Annual Data
FRA:S08 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, PT Steel Pipe Industry of Indonesia Tbk'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.
PT Steel Pipe Industry of Indonesia Tbk ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, PT Steel Pipe Industry of Indonesia Tbk's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PT Steel Pipe Industry of Indonesia Tbk's ROC (Joel Greenblatt) % falls into.
PT Steel Pipe Industry of Indonesia Tbk 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 7.78% mean?
PT Steel Pipe Industry of Indonesia Tbk (FRA:S08) has a ROC (Joel Greenblatt) % of 7.78% 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 PT Steel Pipe Industry of Indonesia Tbk and its competitors. This is near median its historical median of 7.20. Over the past decade, PT Steel Pipe Industry of Indonesia Tbk's ROC (Joel Greenblatt) % has ranged from 3.96 to 12.38. According to the industry distribution chart, PT Steel Pipe Industry of Indonesia Tbk ranks #221 out of 632 companies in the Steel industry, placing it in the top 35%.
Is PT Steel Pipe Industry of Indonesia Tbk's ROC (Joel Greenblatt) % too high?
PT Steel Pipe Industry of Indonesia Tbk's current ROC (Joel Greenblatt) % of 7.78% is near median its 10-year median of 7.20. Over the past 10 years, this metric has ranged from a low of 3.96 to a high of 12.38. The Steel industry median ROC (Joel Greenblatt) % is 7.19. PT Steel Pipe Industry of Indonesia Tbk's value of 7.78% is 8.3% above this industry median. Based on the distribution chart, PT Steel Pipe Industry of Indonesia Tbk ranks #221 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, PT Steel Pipe Industry of Indonesia Tbk has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does PT Steel Pipe Industry of Indonesia Tbk's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, PT Steel Pipe Industry of Indonesia Tbk ranks #221 out of 632 companies for ROC (Joel Greenblatt) %. This puts PT Steel Pipe Industry of Indonesia Tbk in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.19. PT Steel Pipe Industry of Indonesia Tbk's value of 7.78% is 8.3% above this benchmark. Historically, PT Steel Pipe Industry of Indonesia Tbk's own ROC (Joel Greenblatt) % has ranged from 3.96 to 12.38 over the past decade. While the company's 10-year median is 7.20 vs. the industry median of 7.19, PT Steel Pipe Industry of Indonesia Tbk 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 7.19, 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. PT Steel Pipe Industry of Indonesia Tbk's current ROC (Joel Greenblatt) % of 7.78% is 8.3% 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 PT Steel Pipe Industry of Indonesia Tbk and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Steel Pipe Industry of Indonesia Tbk's current ROC (Joel Greenblatt) % is 7.78%, which is near median its own 10-year median of 7.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Steel Pipe Industry of Indonesia Tbk stock overvalued right now?
PT Steel Pipe Industry of Indonesia Tbk (FRA:S08) has a current ROC (Joel Greenblatt) % of 7.78%. The stock's GF Value™ is €0.01, compared to a current price of €0.02 — trading 55% above its estimated fair value. The current ROC (Joel Greenblatt) % is 7.78%, which is near median its 10-year median of 7.20 and 8.3% above the Steel industry median of 7.19. PT Steel Pipe Industry of Indonesia Tbk's overall GF Score™ is 79/100 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 PT Steel Pipe Industry of Indonesia Tbk (FRA:S08), the current ROC (Joel Greenblatt) % is 7.78% 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 PT Steel Pipe Industry of Indonesia Tbk (FRA:S08) Overvalued in 2026?
Based on GuruFocus' analysis, PT Steel Pipe Industry of Indonesia Tbk stock appears to be overvalued.
The current stock price of €0.02 is trading 55% above its estimated GF Value™ of €0.01.
Key valuation signals for FRA:S08:
ROC (Joel Greenblatt) %: 7.78% (near median its 10-year median of 7.20)
GF Value™: €0.01 vs. price of €0.02 (55% above fair value)
Industry Position: 8.3% above the Steel median (#221 of 632)
No single metric tells the full story. See the FRA:S08 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Steel Pipe Industry of Indonesia Tbk Business Description
PT Steel Pipe Industry of Indonesia Tbk is an Indonesian-based company engaged in manufacturing steel pipes. The company's products include black pipes, water pipes, mechanical pipes, furniture pipes, API pipes, steel poles, spiral pipes, as well as industrial and ornamental stainless steel pipes. The segments of the company are Steel Pipe Mill, Spiral Steel Pipe Mill, Strips and Plate, Services, and others. The company's products are used for furniture, water supply systems, general construction, automotive components, oil and gas, mechanical structures, and chemical industries. Geographically, all operations functioned through the regions of Indonesia.
79GF 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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