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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 Ultrajaya Milk Industry & Trading Co Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 55.25%.
ISX:ULTJ's ROC (Joel Greenblatt) % is ranked better than 75% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 20.385
vs ISX:ULTJ: 42.21
PT Ultrajaya Milk Industry & Trading Co Tbk (ISX:ULTJ) 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.
PT Ultrajaya Milk Industry & Trading Co Tbk ROC (Joel Greenblatt) % Chart
PT Ultrajaya Milk Industry & Trading Co Tbk Annual Data
ISX:ULTJ vs KO, PEP, MNST: ROC (Joel Greenblatt) % Comparison
For the Beverages - Non-Alcoholic subindustry, PT Ultrajaya Milk Industry & Trading Co 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 Ultrajaya Milk Industry & Trading Co Tbk ROC (Joel Greenblatt) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, PT Ultrajaya Milk Industry & Trading Co Tbk's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PT Ultrajaya Milk Industry & Trading Co Tbk's ROC (Joel Greenblatt) % falls into.
PT Ultrajaya Milk Industry & Trading Co Tbk 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 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 55.25% mean?
PT Ultrajaya Milk Industry & Trading Co Tbk (ISX:ULTJ) has a ROC (Joel Greenblatt) % of 55.25% 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 Ultrajaya Milk Industry & Trading Co Tbk and its competitors. This is 12% above median its historical median of 49.14. Over the past decade, PT Ultrajaya Milk Industry & Trading Co Tbk's ROC (Joel Greenblatt) % has ranged from 38.62 to 66.24. According to the industry distribution chart, PT Ultrajaya Milk Industry & Trading Co Tbk ranks #29 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 25%.
Is PT Ultrajaya Milk Industry & Trading Co Tbk's ROC (Joel Greenblatt) % too high?
PT Ultrajaya Milk Industry & Trading Co Tbk's current ROC (Joel Greenblatt) % of 55.25% is 12% above median its 10-year median of 49.14. Over the past 10 years, this metric has ranged from a low of 38.62 to a high of 66.24. The Beverages - Non-Alcoholic industry median ROC (Joel Greenblatt) % is 20.39. PT Ultrajaya Milk Industry & Trading Co Tbk's value of 55.25% is 171% above this industry median. Based on the distribution chart, PT Ultrajaya Milk Industry & Trading Co Tbk ranks #29 out of 116 companies in the Beverages - Non-Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, PT Ultrajaya Milk Industry & Trading Co Tbk has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Ultrajaya Milk Industry & Trading Co Tbk's ROC (Joel Greenblatt) % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, PT Ultrajaya Milk Industry & Trading Co Tbk ranks #29 out of 116 companies for ROC (Joel Greenblatt) %. This places PT Ultrajaya Milk Industry & Trading Co Tbk in the top 25% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 20.39. PT Ultrajaya Milk Industry & Trading Co Tbk's value of 55.25% is 171% above this benchmark. Historically, PT Ultrajaya Milk Industry & Trading Co Tbk's own ROC (Joel Greenblatt) % has ranged from 38.62 to 66.24 over the past decade. While the company's 10-year median is 49.14 vs. the industry median of 20.39, PT Ultrajaya Milk Industry & Trading Co 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 Beverages - Non-Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Non-Alcoholic companies is 20.39, based on 116 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 Ultrajaya Milk Industry & Trading Co Tbk's current ROC (Joel Greenblatt) % of 55.25% is 171% 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 Ultrajaya Milk Industry & Trading Co Tbk and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC (Joel Greenblatt) % is 20.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Ultrajaya Milk Industry & Trading Co Tbk's current ROC (Joel Greenblatt) % is 55.25%, which is 12% above median its own 10-year median of 49.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Ultrajaya Milk Industry & Trading Co Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Ultrajaya Milk Industry & Trading Co Tbk (ISX:ULTJ) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp1,892.39, compared to a current price of Rp1,370.00 — trading 27.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 55.25%, which is 12% above median its 10-year median of 49.14 and 171% above the Beverages - Non-Alcoholic industry median of 20.39. PT Ultrajaya Milk Industry & Trading Co Tbk's overall GF Score™ is 96/100 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 Ultrajaya Milk Industry & Trading Co Tbk (ISX:ULTJ), the current ROC (Joel Greenblatt) % is 55.25% 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 Ultrajaya Milk Industry & Trading Co Tbk (ISX:ULTJ) Overvalued in 2026?
Based on GuruFocus' analysis, PT Ultrajaya Milk Industry & Trading Co Tbk stock appears to be undervalued.
The current stock price of Rp1,370.00 is trading 27.6% below its estimated GF Value™ of Rp1,892.39.
GuruFocus considers PT Ultrajaya Milk Industry & Trading Co Tbk to be Modestly Undervalued.
Key valuation signals for ISX:ULTJ:
ROC (Joel Greenblatt) %: 55.25% (12% above median its 10-year median of 49.14)
GF Value™: Rp1,892.39 vs. price of Rp1,370.00 (27.6% below fair value)
Industry Position: 171% above the Beverages - Non-Alcoholic median (#29 of 116)
No single metric tells the full story. See the ISX:ULTJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Ultrajaya Milk Industry & Trading Co Tbk Business Description
PT Ultrajaya Milk Industry & Trading Co Tbk is in the business of producing dairy products, beverages, and healthy drink products with ultra-high temperature technology and aseptic packaging. Its products are Freshmilk, Tea drink, Health drinks, Sweetened condensed creamer, and others. The company operates in two operating segments: Beverages and Food. It derives the majority of its revenues from the Beverages segment.
96GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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