Hong Kong and China Gas CoHOKCF 42 ROC (Joel Greenblatt) % is 14.20% as of Dec. 2025, which is 10% below its 10-year median of 15.77. GuruFocus rates HOKCF with a GF Scoreâ„¢ of 42/100 and a GF Valueâ„¢ of $0.79 (Fairly Valued). The stock has 7 warning signs investors should review. Among 506 Utilities - Regulated companies, Hong Kong and China Gas Co ranks better than 62.65% 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. Hong Kong and China Gas Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 14.20%.
The historical rank and industry rank for Hong Kong and China Gas Co's ROC (Joel Greenblatt) % or its related term are showing as below:
HOKCF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 13.76 Med: 15.77 Max: 22.86
Current: 14.76
During the past 13 years, Hong Kong and China Gas Co's highest ROC (Joel Greenblatt) % was 22.86%. The lowest was 13.76%. And the median was 15.77%.
HOKCF's ROC (Joel Greenblatt) % is ranked better than 62.65% of 506
companies
in the Utilities - Regulated industry
Industry Median: 10.845
vs HOKCF: 14.76
Hong Kong and China Gas Co (OTCPK:HOKCF) 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 and China Gas Co ROC (Joel Greenblatt) % Chart
HOKCF vs ATO, NI: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Gas subindustry, Hong Kong and China Gas 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.
Hong Kong and China Gas Co ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hong Kong and China Gas Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hong Kong and China Gas Co's ROC (Joel Greenblatt) % falls into.
Hong Kong and China Gas 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 14.20% mean?
Hong Kong and China Gas Co (HOKCF) has a ROC (Joel Greenblatt) % of 14.20% 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 Hong Kong and China Gas Co and its competitors. This is 10% below median its historical median of 15.77. Over the past decade, Hong Kong and China Gas Co's ROC (Joel Greenblatt) % has ranged from 13.76 to 22.86. According to the industry distribution chart, Hong Kong and China Gas Co ranks #189 out of 506 companies in the Utilities - Regulated industry, placing it in the top 37.4%.
Is Hong Kong and China Gas Co's ROC (Joel Greenblatt) % too high?
Hong Kong and China Gas Co's current ROC (Joel Greenblatt) % of 14.20% is 10% below median its 10-year median of 15.77. Over the past 10 years, this metric has ranged from a low of 13.76 to a high of 22.86. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.85. Hong Kong and China Gas Co's value of 14.20% is 30.9% above this industry median. Based on the distribution chart, Hong Kong and China Gas Co ranks #189 out of 506 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Hong Kong and China Gas Co has a GF Scoreâ„¢ of 42/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong and China Gas Co's ROC (Joel Greenblatt) % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hong Kong and China Gas Co ranks #189 out of 506 companies for ROC (Joel Greenblatt) %. This puts Hong Kong and China Gas Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.85. Hong Kong and China Gas Co's value of 14.20% is 30.9% above this benchmark. Historically, Hong Kong and China Gas Co's own ROC (Joel Greenblatt) % has ranged from 13.76 to 22.86 over the past decade. While the company's 10-year median is 15.77 vs. the industry median of 10.85, Hong Kong and China Gas Co 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 an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.85, based on 506 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. Hong Kong and China Gas Co's current ROC (Joel Greenblatt) % of 14.20% is 30.9% 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 Hong Kong and China Gas Co and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Kong and China Gas Co's current ROC (Joel Greenblatt) % is 14.20%, which is 10% below median its own 10-year median of 15.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong and China Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong and China Gas Co (HOKCF) is currently considered Fairly Valued. The stock's GF Value™ is $0.79, compared to a current price of $0.83 — trading 5.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 14.20%, which is 10% below median its 10-year median of 15.77 and 30.9% above the Utilities - Regulated industry median of 10.85. Hong Kong and China Gas Co's overall GF Score™ is 42/100 with 7 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 and China Gas Co (HOKCF), the current ROC (Joel Greenblatt) % is 14.20% 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.
Is Hong Kong and China Gas Co (HOKCF) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Kong and China Gas Co stock appears to be overvalued.
The current stock price of $0.83 is trading 5.1% above its estimated GF Value™ of $0.79.
GuruFocus considers Hong Kong and China Gas Co to be Fairly Valued.
Key valuation signals for HOKCF:
ROC (Joel Greenblatt) %: 14.20% (10% below median its 10-year median of 15.77)
GF Value™: $0.79 vs. price of $0.83 (5.1% above fair value)
Industry Position: 30.9% above the Utilities - Regulated median (#189 of 506)
No single metric tells the full story. See the HOKCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Kong and China Gas Co Ltd, is the oldest public utility company in Hong Kong. The company's core business comprises the production and distribution of town gas in Hong Kong, with a monopoly on distribution and retail. The company is also investing in water, upstream gas, and new energies. The Group's principal activities are the production, distribution, and marketing of gas and related products or services, water supply and waste treatment, renewable energy businesses, extended businesses, and fuels businesses (Green Fuels) in Hong Kong and the Chinese mainland. The company operates in three segments: Gas, water and waste treatment, renewable energy, extended businesses, and related businesses, Green Fuels, and Property.
42GF Score
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