Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Taiyo Kagaku CoNGO:2902 +0.15%76 ROC (Joel Greenblatt) % is 20.86% as of Mar. 2026, which is 22% above its 10-year median of 17.13. GuruFocus rates NGO:2902 with a GF Score™ of 76/100 and a GF Value™ of 円1,871.97 (Significantly Overvalued). Among 1,605 Chemicals companies, Taiyo Kagaku Co ranks better than 75.58% 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. Taiyo Kagaku Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.86%.
The historical rank and industry rank for Taiyo Kagaku Co's ROC (Joel Greenblatt) % or its related term are showing as below:
NGO:2902'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.9 Med: 17.13 Max: 20.18
Current: 20.18
During the past 13 years, Taiyo Kagaku Co's highest ROC (Joel Greenblatt) % was 20.18%. The lowest was 7.90%. And the median was 17.13%.
NGO:2902's ROC (Joel Greenblatt) % is ranked better than 75.58% of 1605
companies
in the Chemicals industry
Industry Median: 9.47
vs NGO:2902: 20.18
Taiyo Kagaku Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 1.70% per year.
Taiyo Kagaku Co (NGO:2902) 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.
Taiyo Kagaku Co ROC (Joel Greenblatt) % Related Terms
Taiyo Kagaku Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Taiyo Kagaku Co'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.
NGO:2902 vs LIN, SHW, ECL: ROC (Joel Greenblatt) % Comparison
For the Specialty Chemicals subindustry, Taiyo Kagaku Co'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.
Taiyo Kagaku Co ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Taiyo Kagaku Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Taiyo Kagaku Co's ROC (Joel Greenblatt) % falls into.
Taiyo Kagaku Co ROC (Joel Greenblatt) % Calculation
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 two times the semi-annual (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 20.86% mean?
Taiyo Kagaku Co (NGO:2902) has a ROC (Joel Greenblatt) % of 20.86% 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 Taiyo Kagaku Co and its competitors. This is 22% above median its historical median of 17.13. Over the past decade, Taiyo Kagaku Co's ROC (Joel Greenblatt) % has ranged from 7.90 to 20.18. According to the industry distribution chart, Taiyo Kagaku Co ranks #392 out of 1605 companies in the Chemicals industry, placing it in the top 24.4%.
Is Taiyo Kagaku Co's ROC (Joel Greenblatt) % too high?
Taiyo Kagaku Co's current ROC (Joel Greenblatt) % of 20.86% is 22% above median its 10-year median of 17.13. Over the past 10 years, this metric has ranged from a low of 7.90 to a high of 20.18. The Chemicals industry median ROC (Joel Greenblatt) % is 9.47. Taiyo Kagaku Co's value of 20.86% is 120.3% above this industry median. Based on the distribution chart, Taiyo Kagaku Co ranks #392 out of 1605 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Taiyo Kagaku Co has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Taiyo Kagaku Co's ROC (Joel Greenblatt) % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Taiyo Kagaku Co ranks #392 out of 1605 companies for ROC (Joel Greenblatt) %. This places Taiyo Kagaku Co in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.47. Taiyo Kagaku Co's value of 20.86% is 120.3% above this benchmark. Historically, Taiyo Kagaku Co's own ROC (Joel Greenblatt) % has ranged from 7.90 to 20.18 over the past decade. While the company's 10-year median is 17.13 vs. the industry median of 9.47, Taiyo Kagaku Co 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 9.47, 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. Taiyo Kagaku Co's current ROC (Joel Greenblatt) % of 20.86% is 120.3% 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 Taiyo Kagaku Co and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiyo Kagaku Co's current ROC (Joel Greenblatt) % is 20.86%, which is 22% above median its own 10-year median of 17.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiyo Kagaku Co stock overvalued right now?
Based on GuruFocus' analysis, Taiyo Kagaku Co (NGO:2902) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,871.97, compared to a current price of 円2,645.00 — trading 41.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 20.86%, which is 22% above median its 10-year median of 17.13 and 120.3% above the Chemicals industry median of 9.47. Taiyo Kagaku Co's overall GF Score™ is 76/100. 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 Taiyo Kagaku Co (NGO:2902), the current ROC (Joel Greenblatt) % is 20.86% 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 Taiyo Kagaku Co (NGO:2902) Overvalued in 2026?
Based on GuruFocus' analysis, Taiyo Kagaku Co stock appears to be overvalued.
The current stock price of 円2,645.00 is trading 41.3% above its estimated GF Value™ of 円1,871.97.
GuruFocus considers Taiyo Kagaku Co to be Significantly Overvalued.
Key valuation signals for NGO:2902:
ROC (Joel Greenblatt) %: 20.86% (22% above median its 10-year median of 17.13)
GF Value™: 円1,871.97 vs. price of 円2,645.00 (41.3% above fair value)
Industry Position: 120.3% above the Chemicals median (#392 of 1605)
No single metric tells the full story. See the NGO:2902 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiyo Kagaku Co Ltd is based in Japan. The company has three reportable segments: the Nutrition Business, the Interface Solutions Business, and the Natural Ingredients Business. The Nutrition Business manufactures and sells functional food ingredients such as catechin (green tea extract), theanine (a functional amino acid), and water-soluble dietary fiber, as well as mineral and vitamin preparations. The Interface Solutions Business manufactures and sells quality improvers such as emulsifiers. The Natural Ingredients Business manufactures and sells food ingredients such as egg products, protein ingredients, ingredients for instant foods, and processed agricultural products, as well as quality improvers and stabilizers.
76GF Score
Get the complete analysis for NGO:2902
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NGO:2902 has been successfully added to your 
