KikkomanKIKOF 93 ROC (Joel Greenblatt) % is 17.67% as of Mar. 2026, which is 21% below its 10-year median of 22.44. GuruFocus rates KIKOF with a GF Score™ of 93/100 and a GF Value™ of $11.50 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,970 Consumer Packaged Goods companies, Kikkoman ranks better than 73.25% 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. Kikkoman's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.67%.
The historical rank and industry rank for Kikkoman's ROC (Joel Greenblatt) % or its related term are showing as below:
KIKOF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 16.29 Med: 22.44 Max: 28.14
Current: 23.72
During the past 13 years, Kikkoman's highest ROC (Joel Greenblatt) % was 28.14%. The lowest was 16.29%. And the median was 22.44%.
KIKOF's ROC (Joel Greenblatt) % is ranked better than 73.25% of 1970
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs KIKOF: 23.72
Kikkoman's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 1.50% 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 Kikkoman'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.
KIKOF vs KHC, GIS: ROC (Joel Greenblatt) % Comparison
For the Packaged Foods subindustry, Kikkoman'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.
Kikkoman ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Kikkoman's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Kikkoman'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 17.67% mean?
Kikkoman (KIKOF) has a ROC (Joel Greenblatt) % of 17.67% 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 Kikkoman and its competitors. This is 21% below median its historical median of 22.44. Over the past decade, Kikkoman's ROC (Joel Greenblatt) % has ranged from 16.29 to 28.14. According to the industry distribution chart, Kikkoman ranks #527 out of 1970 companies in the Consumer Packaged Goods industry, placing it in the top 26.8%.
Is Kikkoman's ROC (Joel Greenblatt) % too high?
Kikkoman's current ROC (Joel Greenblatt) % of 17.67% is 21% below median its 10-year median of 22.44. Over the past 10 years, this metric has ranged from a low of 16.29 to a high of 28.14. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. Kikkoman's value of 17.67% is 47.4% above this industry median. Based on the distribution chart, Kikkoman ranks #527 out of 1970 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Kikkoman has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kikkoman's ROC (Joel Greenblatt) % compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Kikkoman ranks #527 out of 1970 companies for ROC (Joel Greenblatt) %. This puts Kikkoman in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. Kikkoman's value of 17.67% is 47.4% above this benchmark. Historically, Kikkoman's own ROC (Joel Greenblatt) % has ranged from 16.29 to 28.14 over the past decade. While the company's 10-year median is 22.44 vs. the industry median of 11.99, Kikkoman 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 1,970 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. Kikkoman's current ROC (Joel Greenblatt) % of 17.67% is 47.4% 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 Kikkoman 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. Kikkoman's current ROC (Joel Greenblatt) % is 17.67%, which is 21% below median its own 10-year median of 22.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kikkoman stock overvalued right now?
Based on GuruFocus' analysis, Kikkoman (KIKOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $11.50, compared to a current price of $10.20 — trading 11.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 17.67%, which is 21% below median its 10-year median of 22.44 and 47.4% above the Consumer Packaged Goods industry median of 11.99. Kikkoman's overall GF Score™ is 93/100 with 2 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 Kikkoman (KIKOF), the current ROC (Joel Greenblatt) % is 17.67% 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 Kikkoman (KIKOF) Overvalued in 2026?
Based on GuruFocus' analysis, Kikkoman stock appears to be undervalued.
The current stock price of $10.20 is trading 11.3% below its estimated GF Value™ of $11.50.
GuruFocus considers Kikkoman to be Modestly Undervalued.
Key valuation signals for KIKOF:
ROC (Joel Greenblatt) %: 17.67% (21% below median its 10-year median of 22.44)
GF Value™: $11.50 vs. price of $10.20 (11.3% below fair value)
Industry Position: 47.4% above the Consumer Packaged Goods median (#527 of 1970)
No single metric tells the full story. See the KIKOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kikkoman was founded in 1917 following the merger of eight family-owned companies in Noda, Chiba Prefecture, Japan. It is the largest soy sauce manufacturer in Japan and the US. Domestically, it sells a broad range of food and beverage products, including but not limited to soy sauce, soy milk, licensed Del Monte products, and liquor. Kikkoman's products are shipped to over 100 countries with eight global production plants across the US, Asia, Europe, and South America. Apart from food manufacturing, Kikkoman also operates a wholesale business that resells Asian foods globally.
93GF Score
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