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BOC KenyaNAI:BOC +0.43%73 ROC (Joel Greenblatt) % is 58.80% as of Dec. 2025, which is 168% above its 10-year median of 21.96. GuruFocus rates NAI:BOC with a GF Score™ of 73/100 and a GF Value™ of KES90.25 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,605 Chemicals companies, BOC Kenya ranks better than 96.26% 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. BOC Kenya's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 58.80%.
The historical rank and industry rank for BOC Kenya's ROC (Joel Greenblatt) % or its related term are showing as below:
NAI:BOC'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 10.73 Med: 21.96 Max: 58.8
Current: 58.8
During the past 13 years, BOC Kenya's highest ROC (Joel Greenblatt) % was 58.80%. The lowest was 10.73%. And the median was 21.96%.
NAI:BOC's ROC (Joel Greenblatt) % is ranked better than 96.26% of 1605
companies
in the Chemicals industry
Industry Median: 9.67
vs NAI:BOC: 58.80
BOC Kenya's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 24.00% per year.
BOC Kenya (NAI:BOC) 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.
The historical data trend for BOC Kenya'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.
NAI:BOC vs DOW: ROC (Joel Greenblatt) % Comparison
For the Chemicals subindustry, BOC Kenya'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.
BOC Kenya ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, BOC Kenya's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where BOC Kenya'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 one times the annual (Dec. 2025) 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 58.80% mean?
BOC Kenya (NAI:BOC) has a ROC (Joel Greenblatt) % of 58.80% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on BOC Kenya and its competitors. This is 168% above median its historical median of 21.96. Over the past decade, BOC Kenya's ROC (Joel Greenblatt) % has ranged from 10.73 to 58.80. According to the industry distribution chart, BOC Kenya ranks #60 out of 1605 companies in the Chemicals industry, placing it in the top 3.7%.
Is BOC Kenya's ROC (Joel Greenblatt) % too high?
BOC Kenya's current ROC (Joel Greenblatt) % of 58.80% is 168% above median its 10-year median of 21.96. Over the past 10 years, this metric has ranged from a low of 10.73 to a high of 58.80. The Chemicals industry median ROC (Joel Greenblatt) % is 9.67. BOC Kenya's value of 58.80% is 508.1% above this industry median. Based on the distribution chart, BOC Kenya ranks #60 out of 1605 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, BOC Kenya has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BOC Kenya's ROC (Joel Greenblatt) % compare to DOW?
According to the Chemicals industry distribution chart, BOC Kenya ranks #60 out of 1605 companies for ROC (Joel Greenblatt) %. This places BOC Kenya in the top 4% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.67. BOC Kenya's value of 58.80% is 508.1% above this benchmark. Historically, BOC Kenya's own ROC (Joel Greenblatt) % has ranged from 10.73 to 58.80 over the past decade. While the company's 10-year median is 21.96 vs. the industry median of 9.67, BOC Kenya 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 Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 9.67, based on 1,605 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. BOC Kenya's current ROC (Joel Greenblatt) % of 58.80% is 508.1% 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 BOC Kenya and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BOC Kenya's current ROC (Joel Greenblatt) % is 58.80%, which is 168% above median its own 10-year median of 21.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BOC Kenya stock overvalued right now?
Based on GuruFocus' analysis, BOC Kenya (NAI:BOC) is currently considered Significantly Overvalued. The stock's GF Value™ is KES90.25, compared to a current price of KES176.75 — trading 95.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 58.80%, which is 168% above median its 10-year median of 21.96 and 508.1% above the Chemicals industry median of 9.67. BOC Kenya's overall GF Score™ is 73/100 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 BOC Kenya (NAI:BOC), the current ROC (Joel Greenblatt) % is 58.80% as of Dec. 2025. 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 BOC Kenya (NAI:BOC) Overvalued in 2026?
Based on GuruFocus' analysis, BOC Kenya stock appears to be overvalued.
The current stock price of KES176.75 is trading 95.8% above its estimated GF Value™ of KES90.25.
GuruFocus considers BOC Kenya to be Significantly Overvalued.
Key valuation signals for NAI:BOC:
ROC (Joel Greenblatt) %: 58.80% (168% above median its 10-year median of 21.96)
GF Value™: KES90.25 vs. price of KES176.75 (95.8% above fair value)
Industry Position: 508.1% above the Chemicals median (#60 of 1605)
No single metric tells the full story. See the NAI:BOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BOC Kenya PLC is involved in the manufacture and sale of industrial and medical gases and welding products. Its product range consists of Bulk gases, Packaged gases, and Engineering services. Bulk gases include liquid oxygen and liquid nitrogen. Packaged gases comprise medical gases, industrial gases, special gas mixtures, and liquefied petroleum gas. The engineering services include supplies of medical equipment, construction of medical and other gas pipelines, liquefied petroleum gas installations, tanks and pipelines, industrial gas storage and pipeline installations, and related maintenance services. The company generates the majority of its revenue from the sale of medical and industrial gases.
73GF Score
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