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China Resources Beverage (Holdings) CoHKSE:02460 +1.60%21 ROC (Joel Greenblatt) % is 4.41% as of Dec. 2025, which is 90% below its 10-year median of 46.08. GuruFocus rates HKSE:02460 with a GF Score™ of 21/100. The stock has 5 warning signs investors should review. Among 118 Beverages - Non-Alcoholic companies, China Resources Beverage (Holdings) Co ranks worse than 54.24% 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. China Resources Beverage (Holdings) Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 4.41%.
HKSE:02460'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 18.16 Med: 46.08 Max: 73.99
Current: 18.16
During the past 5 years, China Resources Beverage (Holdings) Co's highest ROC (Joel Greenblatt) % was 73.99%. The lowest was 18.16%. And the median was 46.08%.
HKSE:02460's ROC (Joel Greenblatt) % is ranked worse than 54.24% of 118
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 20.595
vs HKSE:02460: 18.16
China Resources Beverage (Holdings) Co (HKSE:02460) 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.
China Resources Beverage (Holdings) Co ROC (Joel Greenblatt) % Chart
China Resources Beverage (Holdings) Co Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Dec25
ROC (Joel Greenblatt) %
73.99
61.89
46.08
35.92
18.35
China Resources Beverage (Holdings) Co Semi-Annual Data
HKSE:02460 vs KO, PEP, MNST: ROC (Joel Greenblatt) % Comparison
For the Beverages - Non-Alcoholic subindustry, China Resources Beverage (Holdings) Co'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.
China Resources Beverage (Holdings) Co ROC (Joel Greenblatt) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, China Resources Beverage (Holdings) Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where China Resources Beverage (Holdings) Co's ROC (Joel Greenblatt) % falls into.
China Resources Beverage (Holdings) Co 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 (Dec. 2025) 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 4.41% mean?
China Resources Beverage (Holdings) Co (HKSE:02460) has a ROC (Joel Greenblatt) % of 4.41% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on China Resources Beverage (Holdings) Co and its competitors. This is 90% below median its historical median of 46.08. Over the past decade, China Resources Beverage (Holdings) Co's ROC (Joel Greenblatt) % has ranged from 18.16 to 73.99. According to the industry distribution chart, China Resources Beverage (Holdings) Co ranks #64 out of 118 companies in the Beverages - Non-Alcoholic industry, placing it in the top 54.2%.
Is China Resources Beverage (Holdings) Co's ROC (Joel Greenblatt) % too high?
China Resources Beverage (Holdings) Co's current ROC (Joel Greenblatt) % of 4.41% is 90% below median its 10-year median of 46.08. Over the past 10 years, this metric has ranged from a low of 18.16 to a high of 73.99. The Beverages - Non-Alcoholic industry median ROC (Joel Greenblatt) % is 20.60. China Resources Beverage (Holdings) Co's value of 4.41% is 78.6% below this industry median. Based on the distribution chart, China Resources Beverage (Holdings) Co ranks #64 out of 118 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, China Resources Beverage (Holdings) Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does China Resources Beverage (Holdings) Co's ROC (Joel Greenblatt) % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, China Resources Beverage (Holdings) Co ranks #64 out of 118 companies for ROC (Joel Greenblatt) %. This places China Resources Beverage (Holdings) Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 20.60. China Resources Beverage (Holdings) Co's value of 4.41% is 78.6% below this benchmark. Historically, China Resources Beverage (Holdings) Co's own ROC (Joel Greenblatt) % has ranged from 18.16 to 73.99 over the past decade. While the company's 10-year median is 46.08 vs. the industry median of 20.60, China Resources Beverage (Holdings) Co has consistently been below 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 Beverages - Non-Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Non-Alcoholic companies is 20.60, based on 118 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. China Resources Beverage (Holdings) Co's current ROC (Joel Greenblatt) % of 4.41% is 78.6% below 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 China Resources Beverage (Holdings) Co and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC (Joel Greenblatt) % is 20.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Resources Beverage (Holdings) Co's current ROC (Joel Greenblatt) % is 4.41%, which is 90% below median its own 10-year median of 46.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Beverage (Holdings) Co stock overvalued right now?
China Resources Beverage (Holdings) Co (HKSE:02460) has a current ROC (Joel Greenblatt) % of 4.41%. The current ROC (Joel Greenblatt) % is 4.41%, which is 90% below median its 10-year median of 46.08 and 78.6% below the Beverages - Non-Alcoholic industry median of 20.60. China Resources Beverage (Holdings) Co's overall GF Score™ is 21/100 with 5 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 China Resources Beverage (Holdings) Co (HKSE:02460), the current ROC (Joel Greenblatt) % is 4.41% as of Dec. 2025. 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.
China Resources Beverage is the second-largest bottled water producer in China and a subsidiary of China Resources Group, a state-owned conglomerate. The bottled water business accounts for around 90% of the company's revenue, with C'estbon being the flagship product. The company has been leveraging its distribution network developed for water products to expand the scale of its nonwater beverages products, which accounts for roughly 10% of the company's revenue.
21GF Score
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