KajimaKAJMY +3.24%81 ROC (Joel Greenblatt) % is 25.97% as of Mar. 2026, which is 4% below its 10-year median of 27.08. GuruFocus rates KAJMY with a GF Score™ of 81/100 and a GF Value™ of $21.43 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,778 Construction companies, Kajima ranks better than 55.23% 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. Kajima's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 25.97%.
The historical rank and industry rank for Kajima's ROC (Joel Greenblatt) % or its related term are showing as below:
KAJMY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 19.12 Med: 27.08 Max: 52.11
Current: 23.58
During the past 13 years, Kajima's highest ROC (Joel Greenblatt) % was 52.11%. The lowest was 19.12%. And the median was 27.08%.
KAJMY's ROC (Joel Greenblatt) % is ranked better than 55.23% of 1778
companies
in the Construction industry
Industry Median: 19.5
vs KAJMY: 23.58
Kajima's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -4.90% per year.
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.
The historical data trend for Kajima'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.
KAJMY vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Kajima'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.
Kajima ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Kajima's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Kajima'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 25.97% mean?
Kajima (KAJMY) has a ROC (Joel Greenblatt) % of 25.97% 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 Kajima and its competitors. This is near median its historical median of 27.08. Over the past decade, Kajima's ROC (Joel Greenblatt) % has ranged from 19.12 to 52.11. According to the industry distribution chart, Kajima ranks #796 out of 1778 companies in the Construction industry, placing it in the top 44.8%.
Is Kajima's ROC (Joel Greenblatt) % too high?
Kajima's current ROC (Joel Greenblatt) % of 25.97% is near median its 10-year median of 27.08. Over the past 10 years, this metric has ranged from a low of 19.12 to a high of 52.11. The Construction industry median ROC (Joel Greenblatt) % is 19.50. Kajima's value of 25.97% is 33.2% above this industry median. Based on the distribution chart, Kajima ranks #796 out of 1778 companies in the Construction industry, which is above the industry midpoint. Overall, Kajima has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kajima's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Kajima ranks #796 out of 1778 companies for ROC (Joel Greenblatt) %. This puts Kajima in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.50. Kajima's value of 25.97% is 33.2% above this benchmark. Historically, Kajima's own ROC (Joel Greenblatt) % has ranged from 19.12 to 52.11 over the past decade. While the company's 10-year median is 27.08 vs. the industry median of 19.50, Kajima 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.50, based on 1,778 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. Kajima's current ROC (Joel Greenblatt) % of 25.97% is 33.2% 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 Kajima and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kajima's current ROC (Joel Greenblatt) % is 25.97%, which is near median its own 10-year median of 27.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kajima stock overvalued right now?
Based on GuruFocus' analysis, Kajima (KAJMY) is currently considered Significantly Overvalued. The stock's GF Value™ is $21.43, compared to a current price of $36.98 — trading 72.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 25.97%, which is near median its 10-year median of 27.08 and 33.2% above the Construction industry median of 19.50. Kajima's overall GF Score™ is 81/100 with 1 warning sign 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 Kajima (KAJMY), the current ROC (Joel Greenblatt) % is 25.97% 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 Kajima (KAJMY) Overvalued in 2026?
Based on GuruFocus' analysis, Kajima stock appears to be overvalued.
The current stock price of $36.98 is trading 72.6% above its estimated GF Value™ of $21.43.
GuruFocus considers Kajima to be Significantly Overvalued.
Key valuation signals for KAJMY:
ROC (Joel Greenblatt) %: 25.97% (near median its 10-year median of 27.08)
GF Value™: $21.43 vs. price of $36.98 (72.6% above fair value)
Industry Position: 33.2% above the Construction median (#796 of 1778)
No single metric tells the full story. See the KAJMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kajima Corp provides civil engineering and project management for multiple industries. It works in multiple phases, from planning and development to maintenance and renovation. The company constructs skyscrapers, power plants, office buildings, and other large structures. It enters into contracts to complete construction work at the designated site and add the necessary improvements. The company has five reportable segments: civil engineering, building business, real estate development, and other domestic subsidiaries, and overseas subsidiaries. The company utilizes research and development for all segments and allows engineers to receive training and enhance expertise through various programs. Japan accounts for the majority of the total revenue.
81GF Score
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