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Tian Cheng HoldingsHKSE:02110 ROC (Joel Greenblatt) % is 42.42% as of May. 2026, which is 17% below its 10-year median of 51.33. The stock has 3 warning signs investors should review. Among 1,792 Construction companies, Tian Cheng Holdings ranks worse than 93.81% 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. Tian Cheng Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 was 42.42%.
The historical rank and industry rank for Tian Cheng Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
HKSE:02110'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -119.21 Med: 51.33 Max: 214.05
Current: -98.93
During the past 10 years, Tian Cheng Holdings's highest ROC (Joel Greenblatt) % was 214.05%. The lowest was -119.21%. And the median was 51.33%.
HKSE:02110's ROC (Joel Greenblatt) % is ranked worse than 93.81% of 1792
companies
in the Construction industry
Industry Median: 19.42
vs HKSE:02110: -98.93
Tian Cheng Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
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.
Tian Cheng Holdings ROC (Joel Greenblatt) % Related Terms
Tian Cheng Holdings ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Tian Cheng Holdings'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.
HKSE:02110 vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Tian Cheng 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.
Tian Cheng Holdings ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Tian Cheng Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tian Cheng Holdings's ROC (Joel Greenblatt) % falls into.
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 (May. 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 42.42% mean?
Tian Cheng Holdings (HKSE:02110) has a ROC (Joel Greenblatt) % of 42.42% as of May. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tian Cheng Holdings and its competitors. This is 17% below median its historical median of 51.33. According to the industry distribution chart, Tian Cheng Holdings ranks #1681 out of 1792 companies in the Construction industry, placing it in the top 93.8%.
Is Tian Cheng Holdings' ROC (Joel Greenblatt) % too high?
Tian Cheng Holdings' current ROC (Joel Greenblatt) % of 42.42% is 17% below median its 10-year median of 51.33. The Construction industry median ROC (Joel Greenblatt) % is 19.42. Tian Cheng Holdings' value of 42.42% is 118.4% above this industry median. Based on the distribution chart, Tian Cheng Holdings ranks #1681 out of 1792 companies in the Construction industry, which is in the bottom quartile relative to peers.
How does Tian Cheng Holdings' ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Tian Cheng Holdings ranks #1681 out of 1792 companies for ROC (Joel Greenblatt) %. This places Tian Cheng Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.42. Tian Cheng Holdings' value of 42.42% is 118.4% above this benchmark. While the company's 10-year median is 51.33 vs. the industry median of 19.42, Tian Cheng Holdings 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.42, based on 1,792 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. Tian Cheng Holdings's current ROC (Joel Greenblatt) % of 42.42% is 118.4% 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 Tian Cheng Holdings and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tian Cheng Holdings's current ROC (Joel Greenblatt) % is 42.42%, which is 17% below median its own 10-year median of 51.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tian Cheng Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tian Cheng Holdings (HKSE:02110) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.56, compared to a current price of HK$0.06 — trading 88.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 42.42%, which is 17% below median its 10-year median of 51.33 and 118.4% above the Construction industry median of 19.42. 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 Tian Cheng Holdings (HKSE:02110), the current ROC (Joel Greenblatt) % is 42.42% as of May. 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.
Tian Cheng Holdings Ltd is a subcontractor specializing in marine construction and civil engineering projects, and engages in marine works including reclamation, sand adjustment, submarine pipeline, sedimentation, and sediment treatment. The company also provides vessel chartering and other civil engineering services such as foundation works, site formation, road, and drainage works. It operates through four segments: Marine Construction Works, Other Civil Engineering Works, Health and Wellness Services, and Vessel Chartering Services. The company generates the majority of its revenue from marine construction and operates mainly in Hong Kong and the PRC, with the majority of revenue coming from Hong Kong.
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