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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. Hong Kong Economic Times Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -8.32%.
The historical rank and industry rank for Hong Kong Economic Times Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
HKSE:00423'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.16 Med: 9.98 Max: 19.64
Current: -10.16
During the past 13 years, Hong Kong Economic Times Holdings's highest ROC (Joel Greenblatt) % was 19.64%. The lowest was -10.16%. And the median was 9.98%.
HKSE:00423's ROC (Joel Greenblatt) % is ranked worse than 67.03% of 1016
companies
in the Media - Diversified industry
Industry Median: 9.79
vs HKSE:00423: -10.16
Hong Kong Economic Times Holdings (HKSE:00423) 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.
Hong Kong Economic Times Holdings ROC (Joel Greenblatt) % Chart
HKSE:00423 vs NYT, WLY: ROC (Joel Greenblatt) % Comparison
For the Publishing subindustry, Hong Kong Economic Times Holdings'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.
Hong Kong Economic Times Holdings ROC (Joel Greenblatt) % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Hong Kong Economic Times Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hong Kong Economic Times Holdings's ROC (Joel Greenblatt) % falls into.
Hong Kong Economic Times Holdings 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 two times the semi-annual (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 -8.32% mean?
Hong Kong Economic Times Holdings (HKSE:00423) has a ROC (Joel Greenblatt) % of -8.32% 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 Hong Kong Economic Times Holdings and its competitors. According to the industry distribution chart, Hong Kong Economic Times Holdings ranks #681 out of 1016 companies in the Media - Diversified industry, placing it in the top 67%.
Is Hong Kong Economic Times Holdings' ROC (Joel Greenblatt) % too high?
Hong Kong Economic Times Holdings' current ROC (Joel Greenblatt) % is -8.32%. Based on the distribution chart, Hong Kong Economic Times Holdings ranks #681 out of 1016 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Hong Kong Economic Times Holdings has a GF Score™ of 42/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong Economic Times Holdings' ROC (Joel Greenblatt) % compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Hong Kong Economic Times Holdings ranks #681 out of 1016 companies for ROC (Joel Greenblatt) %. This places Hong Kong Economic Times Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 9.79. 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 Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 9.79, based on 1,016 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. 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 Hong Kong Economic Times Holdings and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 9.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Kong Economic Times Holdings's current ROC (Joel Greenblatt) % is -8.32%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong Economic Times Holdings stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong Economic Times Holdings (HKSE:00423) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.68, compared to a current price of HK$0.70 — trading 2.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is -8.32%. Hong Kong Economic Times Holdings' overall GF Score™ is 42/100 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 Hong Kong Economic Times Holdings (HKSE:00423), the current ROC (Joel Greenblatt) % is -8.32% 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 Hong Kong Economic Times Holdings (HKSE:00423) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Kong Economic Times Holdings stock appears to be overvalued.
The current stock price of HK$0.70 is trading 2.9% above its estimated GF Value™ of HK$0.68.
GuruFocus considers Hong Kong Economic Times Holdings to be Fairly Valued.
Key valuation signals for HKSE:00423:
ROC (Joel Greenblatt) %: -8.32%
GF Value™: HK$0.68 vs. price of HK$0.70 (2.9% above fair value)
No single metric tells the full story. See the HKSE:00423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Kong Economic Times Holdings Business Description
Hong Kong Economic Times Holdings Ltd is an investment holding company. It is engaged in the printing and publishing of newspapers and magazines and the operation of their associated digital businesses; the operation of recruitment advertising and lifestyle platforms; and the provision of electronic financial and property market information services. Its segments are Media segment, majority revenue deriving segment, engaged in the printing and publication of newspapers, magazines and books and the operation of digital platforms, including recruitment, finance and lifestyle; and Financial news agency, information and solutions segment.
42GF Score
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