Nichiban CoNHBAF 73 ROC (Joel Greenblatt) % is 4.01% as of Mar. 2026, which is 56% below its 10-year median of 9.16. GuruFocus rates NHBAF with a GF Score™ of 73/100 and a GF Value™ of $13.89. The stock has 4 warning signs investors should review. Among 3,060 Industrial Products companies, Nichiban Co ranks worse than 60.65% 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. Nichiban Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.01%.
The historical rank and industry rank for Nichiban Co's ROC (Joel Greenblatt) % or its related term are showing as below:
NHBAF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.03 Med: 9.16 Max: 19.57
Current: 7.32
During the past 13 years, Nichiban Co's highest ROC (Joel Greenblatt) % was 19.57%. The lowest was 7.03%. And the median was 9.16%.
NHBAF's ROC (Joel Greenblatt) % is ranked worse than 60.65% of 3060
companies
in the Industrial Products industry
Industry Median: 11.7
vs NHBAF: 7.32
Nichiban Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -1.50% per year.
Nichiban Co (OTCPK:NHBAF) 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.
Nichiban Co ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Nichiban 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.
Nichiban Co ROC (Joel Greenblatt) % Competitor Comparison
For the Business Equipment & Supplies subindustry, Nichiban 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.
Nichiban Co ROC (Joel Greenblatt) % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Nichiban Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nichiban Co'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 4.01% mean?
Nichiban Co (NHBAF) has a ROC (Joel Greenblatt) % of 4.01% 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 Nichiban Co and its competitors. This is 56% below median its historical median of 9.16. Over the past decade, Nichiban Co's ROC (Joel Greenblatt) % has ranged from 7.03 to 19.57. According to the industry distribution chart, Nichiban Co ranks #1856 out of 3060 companies in the Industrial Products industry, placing it in the top 60.7%.
Is Nichiban Co's ROC (Joel Greenblatt) % too high?
Nichiban Co's current ROC (Joel Greenblatt) % of 4.01% is 56% below median its 10-year median of 9.16. Over the past 10 years, this metric has ranged from a low of 7.03 to a high of 19.57. The Industrial Products industry median ROC (Joel Greenblatt) % is 11.70. Nichiban Co's value of 4.01% is 65.7% below this industry median. Based on the distribution chart, Nichiban Co ranks #1856 out of 3060 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Nichiban Co has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does Nichiban Co's ROC (Joel Greenblatt) % compare to competitors?
According to the Industrial Products industry distribution chart, Nichiban Co ranks #1856 out of 3060 companies for ROC (Joel Greenblatt) %. This places Nichiban Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.70. Nichiban Co's value of 4.01% is 65.7% below this benchmark. Historically, Nichiban Co's own ROC (Joel Greenblatt) % has ranged from 7.03 to 19.57 over the past decade. While the company's 10-year median is 9.16 vs. the industry median of 11.70, Nichiban Co has consistently been below 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 an Industrial Products company?
The median ROC (Joel Greenblatt) % among Industrial Products companies is 11.70, based on 3,060 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. Nichiban Co's current ROC (Joel Greenblatt) % of 4.01% is 65.7% below 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 Nichiban Co and its competitors. For the Industrial Products industry, the median ROC (Joel Greenblatt) % is 11.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nichiban Co's current ROC (Joel Greenblatt) % is 4.01%, which is 56% below median its own 10-year median of 9.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nichiban Co stock overvalued right now?
Nichiban Co (NHBAF) has a current ROC (Joel Greenblatt) % of 4.01%. The stock's GF Value™ is $13.89, compared to a current price of $12.70 — trading 8.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 4.01%, which is 56% below median its 10-year median of 9.16 and 65.7% below the Industrial Products industry median of 11.70. Nichiban Co's overall GF Score™ is 73/100 with 4 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 Nichiban Co (NHBAF), the current ROC (Joel Greenblatt) % is 4.01% 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 Nichiban Co (NHBAF) Overvalued in 2026?
Based on GuruFocus' analysis, Nichiban Co stock appears to be undervalued.
The current stock price of $12.70 is trading 8.6% below its estimated GF Value™ of $13.89.
Key valuation signals for NHBAF:
ROC (Joel Greenblatt) %: 4.01% (56% below median its 10-year median of 9.16)
GF Value™: $13.89 vs. price of $12.70 (8.6% below fair value)
Industry Position: 65.7% below the Industrial Products median (#1856 of 3060)
No single metric tells the full story. See the NHBAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nichiban Co Ltd is a Japan based company engaged in the business of manufacturing and selling products in the field of medical supplies, healthcare, industrial products and industrial products. It offers hemostatic solutions, wound care dressing and surgical tapes, industrial products for manufacturing and distribution and automotive industry, stationery products, TDS pharmaceutical pain relief plaster and foot care products, sports medical battlewin taping tape and first aid bandage.
73GF Score
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