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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 Sinar Mas Agro Resources & Technology Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.15%.
ISX:SMAR's ROC (Joel Greenblatt) % is ranked better than 61.64% of 1981
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs ISX:SMAR: 16.32
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.
ISX:SMAR vs ADM, BG, TSN: ROC (Joel Greenblatt) % Comparison
For the Farm Products subindustry, PT Sinar Mas Agro Resources & Technology 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 Sinar Mas Agro Resources & Technology Tbk ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Sinar Mas Agro Resources & Technology Tbk's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PT Sinar Mas Agro Resources & Technology Tbk'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 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 16.15% mean?
PT Sinar Mas Agro Resources & Technology Tbk (ISX:SMAR) has a ROC (Joel Greenblatt) % of 16.15% 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 Sinar Mas Agro Resources & Technology Tbk and its competitors. This is 65% above median its historical median of 9.76. Over the past decade, PT Sinar Mas Agro Resources & Technology Tbk's ROC (Joel Greenblatt) % has ranged from 6.03 to 28.47. According to the industry distribution chart, PT Sinar Mas Agro Resources & Technology Tbk ranks #760 out of 1981 companies in the Consumer Packaged Goods industry, placing it in the top 38.4%.
Is PT Sinar Mas Agro Resources & Technology Tbk's ROC (Joel Greenblatt) % too high?
PT Sinar Mas Agro Resources & Technology Tbk's current ROC (Joel Greenblatt) % of 16.15% is 65% above median its 10-year median of 9.76. Over the past 10 years, this metric has ranged from a low of 6.03 to a high of 28.47. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. PT Sinar Mas Agro Resources & Technology Tbk's value of 16.15% is 34.7% above this industry median. Based on the distribution chart, PT Sinar Mas Agro Resources & Technology Tbk ranks #760 out of 1981 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, PT Sinar Mas Agro Resources & Technology Tbk has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Sinar Mas Agro Resources & Technology Tbk's ROC (Joel Greenblatt) % compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, PT Sinar Mas Agro Resources & Technology Tbk ranks #760 out of 1981 companies for ROC (Joel Greenblatt) %. This puts PT Sinar Mas Agro Resources & Technology Tbk in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. PT Sinar Mas Agro Resources & Technology Tbk's value of 16.15% is 34.7% above this benchmark. Historically, PT Sinar Mas Agro Resources & Technology Tbk's own ROC (Joel Greenblatt) % has ranged from 6.03 to 28.47 over the past decade. While the company's 10-year median is 9.76 vs. the industry median of 11.99, PT Sinar Mas Agro Resources & Technology 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 Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,981 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 Sinar Mas Agro Resources & Technology Tbk's current ROC (Joel Greenblatt) % of 16.15% is 34.7% 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 Sinar Mas Agro Resources & Technology Tbk and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Sinar Mas Agro Resources & Technology Tbk's current ROC (Joel Greenblatt) % is 16.15%, which is 65% above median its own 10-year median of 9.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Sinar Mas Agro Resources & Technology Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Sinar Mas Agro Resources & Technology Tbk (ISX:SMAR) is currently considered Modestly Overvalued. The stock's GF Value™ is Rp5,018.31, compared to a current price of Rp5,875.00 — trading 17.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 16.15%, which is 65% above median its 10-year median of 9.76 and 34.7% above the Consumer Packaged Goods industry median of 11.99. PT Sinar Mas Agro Resources & Technology Tbk's overall GF Score™ is 83/100 with 3 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 Sinar Mas Agro Resources & Technology Tbk (ISX:SMAR), the current ROC (Joel Greenblatt) % is 16.15% 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 Sinar Mas Agro Resources & Technology Tbk (ISX:SMAR) Overvalued in 2026?
Based on GuruFocus' analysis, PT Sinar Mas Agro Resources & Technology Tbk stock appears to be overvalued.
The current stock price of Rp5,875.00 is trading 17.1% above its estimated GF Value™ of Rp5,018.31.
GuruFocus considers PT Sinar Mas Agro Resources & Technology Tbk to be Modestly Overvalued.
Key valuation signals for ISX:SMAR:
ROC (Joel Greenblatt) %: 16.15% (65% above median its 10-year median of 9.76)
GF Value™: Rp5,018.31 vs. price of Rp5,875.00 (17.1% above fair value)
Industry Position: 34.7% above the Consumer Packaged Goods median (#760 of 1981)
No single metric tells the full story. See the ISX:SMAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Sinar Mas Agro Resources & Technology Tbk is involved in the business of cultivating and harvesting oil palm trees, extracting fresh fruit bunches into crude palm oil and palm kernel, processing it into value-added products such as cooking oil, margarine, shortening, oleochemicals, and biodiesel. The firm's products include cooking oil, fat, margarine, crude palm oil, palm kernel, cocoa butter substitute, etc. Its scope of activities comprises plantation development, agriculture, trading, refining of plantation products, management services, and research related to the business.
83GF Score
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