Maruichi Steel TubeMCHIF +10.76%82 ROC (Joel Greenblatt) % is 27.27% as of Mar. 2026, which is 27% above its 10-year median of 21.46. GuruFocus rates MCHIF with a GF Score™ of 82/100 and a GF Value™ of $4.95. The stock has 8 warning signs investors should review. Among 632 Steel companies, Maruichi Steel Tube ranks better than 83.54% 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. Maruichi Steel Tube's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.27%.
The historical rank and industry rank for Maruichi Steel Tube's ROC (Joel Greenblatt) % or its related term are showing as below:
MCHIF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8.93 Med: 21.46 Max: 28.47
Current: 20.4
During the past 13 years, Maruichi Steel Tube's highest ROC (Joel Greenblatt) % was 28.47%. The lowest was 8.93%. And the median was 21.46%.
MCHIF's ROC (Joel Greenblatt) % is ranked better than 83.54% of 632
companies
in the Steel industry
Industry Median: 7.065
vs MCHIF: 20.40
Maruichi Steel Tube's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -0.10% 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.
Maruichi Steel Tube ROC (Joel Greenblatt) % Related Terms
Maruichi Steel Tube ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Maruichi Steel Tube'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.
MCHIF vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Maruichi Steel Tube'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.
Maruichi Steel Tube ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Maruichi Steel Tube's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Maruichi Steel Tube'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 27.27% mean?
Maruichi Steel Tube (MCHIF) has a ROC (Joel Greenblatt) % of 27.27% 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 Maruichi Steel Tube and its competitors. This is 27% above median its historical median of 21.46. Over the past decade, Maruichi Steel Tube's ROC (Joel Greenblatt) % has ranged from 8.93 to 28.47. According to the industry distribution chart, Maruichi Steel Tube ranks #104 out of 632 companies in the Steel industry, placing it in the top 16.5%.
Is Maruichi Steel Tube's ROC (Joel Greenblatt) % too high?
Maruichi Steel Tube's current ROC (Joel Greenblatt) % of 27.27% is 27% above median its 10-year median of 21.46. Over the past 10 years, this metric has ranged from a low of 8.93 to a high of 28.47. The Steel industry median ROC (Joel Greenblatt) % is 7.07. Maruichi Steel Tube's value of 27.27% is 286% above this industry median. Based on the distribution chart, Maruichi Steel Tube ranks #104 out of 632 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Maruichi Steel Tube has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Maruichi Steel Tube's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Maruichi Steel Tube ranks #104 out of 632 companies for ROC (Joel Greenblatt) %. This places Maruichi Steel Tube in the top 17% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 7.07. Maruichi Steel Tube's value of 27.27% is 286% above this benchmark. Historically, Maruichi Steel Tube's own ROC (Joel Greenblatt) % has ranged from 8.93 to 28.47 over the past decade. While the company's 10-year median is 21.46 vs. the industry median of 7.07, Maruichi Steel Tube 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.07, based on 632 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. Maruichi Steel Tube's current ROC (Joel Greenblatt) % of 27.27% is 286% 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 Maruichi Steel Tube and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maruichi Steel Tube's current ROC (Joel Greenblatt) % is 27.27%, which is 27% above median its own 10-year median of 21.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruichi Steel Tube stock overvalued right now?
Maruichi Steel Tube (MCHIF) has a current ROC (Joel Greenblatt) % of 27.27%. The stock's GF Value™ is $4.95, compared to a current price of $7.31 — trading 47.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 27.27%, which is 27% above median its 10-year median of 21.46 and 286% above the Steel industry median of 7.07. Maruichi Steel Tube's overall GF Score™ is 82/100 with 8 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 Maruichi Steel Tube (MCHIF), the current ROC (Joel Greenblatt) % is 27.27% 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 Maruichi Steel Tube (MCHIF) Overvalued in 2026?
Based on GuruFocus' analysis, Maruichi Steel Tube stock appears to be overvalued.
The current stock price of $7.31 is trading 47.7% above its estimated GF Value™ of $4.95.
Key valuation signals for MCHIF:
ROC (Joel Greenblatt) %: 27.27% (27% above median its 10-year median of 21.46)
GF Value™: $4.95 vs. price of $7.31 (47.7% above fair value)
Industry Position: 286% above the Steel median (#104 of 632)
No single metric tells the full story. See the MCHIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maruichi Steel Tube Ltd is a Japan-based company that manufactures and sells steel tubes and steel sheet coating. The company's product portfolio includes welded steel tubes, hot-dip galvanized steel sheet, lighting poles, and prepainted steel sheet. Its products are used in architecture, civil engineering, machinery, power generation plants, automobiles, motorcycles, medical equipment, fitness machines, office automation equipment, office and educational furniture, and others.
82GF Score
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