Japan TobaccoJAPAF 75 ROC (Joel Greenblatt) % is 66.84% as of Mar. 2026, which is 20% above its 10-year median of 55.78. GuruFocus rates JAPAF with a GF Score™ of 75/100 and a GF Value™ of $31.56 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 47 Tobacco Products companies, Japan Tobacco ranks better than 55.32% 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. Japan Tobacco's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 66.84%.
The historical rank and industry rank for Japan Tobacco's ROC (Joel Greenblatt) % or its related term are showing as below:
JAPAF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 29.49 Med: 55.78 Max: 78.41
Current: 56.13
During the past 13 years, Japan Tobacco's highest ROC (Joel Greenblatt) % was 78.41%. The lowest was 29.49%. And the median was 55.78%.
JAPAF's ROC (Joel Greenblatt) % is ranked better than 55.32% of 47
companies
in the Tobacco Products industry
Industry Median: 43.16
vs JAPAF: 56.13
Japan Tobacco's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -0.90% per year.
Japan Tobacco (OTCPK:JAPAF) 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.
Japan Tobacco ROC (Joel Greenblatt) % Related Terms
Japan Tobacco ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Japan Tobacco'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.
JAPAF vs PM, MO, TPB: ROC (Joel Greenblatt) % Comparison
For the Tobacco subindustry, Japan Tobacco'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.
Japan Tobacco ROC (Joel Greenblatt) % vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Japan Tobacco's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Japan Tobacco'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 66.84% mean?
Japan Tobacco (JAPAF) has a ROC (Joel Greenblatt) % of 66.84% 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 Japan Tobacco and its competitors. This is 20% above median its historical median of 55.78. Over the past decade, Japan Tobacco's ROC (Joel Greenblatt) % has ranged from 29.49 to 78.41. According to the industry distribution chart, Japan Tobacco ranks #21 out of 47 companies in the Tobacco Products industry, placing it in the top 44.7%.
Is Japan Tobacco's ROC (Joel Greenblatt) % too high?
Japan Tobacco's current ROC (Joel Greenblatt) % of 66.84% is 20% above median its 10-year median of 55.78. Over the past 10 years, this metric has ranged from a low of 29.49 to a high of 78.41. The Tobacco Products industry median ROC (Joel Greenblatt) % is 43.16. Japan Tobacco's value of 66.84% is 54.9% above this industry median. Based on the distribution chart, Japan Tobacco ranks #21 out of 47 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, Japan Tobacco has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Tobacco's ROC (Joel Greenblatt) % compare to PM and MO?
According to the Tobacco Products industry distribution chart, Japan Tobacco ranks #21 out of 47 companies for ROC (Joel Greenblatt) %. This puts Japan Tobacco in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 43.16. Japan Tobacco's value of 66.84% is 54.9% above this benchmark. Historically, Japan Tobacco's own ROC (Joel Greenblatt) % has ranged from 29.49 to 78.41 over the past decade. While the company's 10-year median is 55.78 vs. the industry median of 43.16, Japan Tobacco 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 Tobacco Products company?
The median ROC (Joel Greenblatt) % among Tobacco Products companies is 43.16, based on 47 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. Japan Tobacco's current ROC (Joel Greenblatt) % of 66.84% is 54.9% 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 Japan Tobacco and its competitors. For the Tobacco Products industry, the median ROC (Joel Greenblatt) % is 43.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Tobacco's current ROC (Joel Greenblatt) % is 66.84%, which is 20% above median its own 10-year median of 55.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Tobacco stock overvalued right now?
Based on GuruFocus' analysis, Japan Tobacco (JAPAF) is currently considered Modestly Overvalued. The stock's GF Value™ is $31.56, compared to a current price of $37.50 — trading 18.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 66.84%, which is 20% above median its 10-year median of 55.78 and 54.9% above the Tobacco Products industry median of 43.16. Japan Tobacco's overall GF Score™ is 75/100 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 Japan Tobacco (JAPAF), the current ROC (Joel Greenblatt) % is 66.84% 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 Japan Tobacco (JAPAF) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Tobacco stock appears to be overvalued.
The current stock price of $37.50 is trading 18.8% above its estimated GF Value™ of $31.56.
GuruFocus considers Japan Tobacco to be Modestly Overvalued.
Key valuation signals for JAPAF:
ROC (Joel Greenblatt) %: 66.84% (20% above median its 10-year median of 55.78)
GF Value™: $31.56 vs. price of $37.50 (18.8% above fair value)
Industry Position: 54.9% above the Tobacco Products median (#21 of 47)
No single metric tells the full story. See the JAPAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Tobacco primarily sells cigarettes and reduced-risk products, organized in three clusters consisting of Asia (which includes its home market and countries in Asia Pacific), Western Europe, and EMA (which includes Eastern Europe, the Middle East North Africa, Turkey, Americas, and duty-free). Its leading cigarette brands include Winston (non-US), Camel (non-US), Mevius, and LD. Its reduced-risk brands include Logic in vaping, Ploom in heated tobacco, and Nordic Spirit in nicotine pouches, though these generates less than 5% of tobacco sales.
75GF Score
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