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.
United Heat TransferNSE:UHTL -1.07%16 ROC (Joel Greenblatt) % is 6.43% as of Sep. 2025, which is 55% below its 10-year median of 14.38. GuruFocus rates NSE:UHTL with a GF Score™ of 16/100. The stock has 2 warning signs investors should review. Among 3,061 Industrial Products companies, United Heat Transfer ranks worse than 56.91% 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. United Heat Transfer's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was 6.43%.
The historical rank and industry rank for United Heat Transfer's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:UHTL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8.68 Med: 14.38 Max: 22.04
Current: 8.68
During the past 4 years, United Heat Transfer's highest ROC (Joel Greenblatt) % was 22.04%. The lowest was 8.68%. And the median was 14.38%.
NSE:UHTL's ROC (Joel Greenblatt) % is ranked worse than 56.91% of 3061
companies
in the Industrial Products industry
Industry Median: 11.69
vs NSE:UHTL: 8.68
United Heat Transfer's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
United Heat Transfer (NSE:UHTL) 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.
United Heat Transfer ROC (Joel Greenblatt) % Related Terms
United Heat Transfer ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for United Heat Transfer'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.
United Heat Transfer ROC (Joel Greenblatt) % Chart
NSE:UHTL vs GEV, ETN, PH: ROC (Joel Greenblatt) % Comparison
For the Specialty Industrial Machinery subindustry, United Heat Transfer'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.
United Heat Transfer ROC (Joel Greenblatt) % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, United Heat Transfer's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where United Heat Transfer's ROC (Joel Greenblatt) % falls into.
United Heat Transfer 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 (Sep. 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 6.43% mean?
United Heat Transfer (NSE:UHTL) has a ROC (Joel Greenblatt) % of 6.43% as of Sep. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on United Heat Transfer and its competitors. This is 55% below median its historical median of 14.38. Over the past decade, United Heat Transfer's ROC (Joel Greenblatt) % has ranged from 8.68 to 22.04. According to the industry distribution chart, United Heat Transfer ranks #1742 out of 3061 companies in the Industrial Products industry, placing it in the top 56.9%.
Is United Heat Transfer's ROC (Joel Greenblatt) % too high?
United Heat Transfer's current ROC (Joel Greenblatt) % of 6.43% is 55% below median its 10-year median of 14.38. Over the past 10 years, this metric has ranged from a low of 8.68 to a high of 22.04. The Industrial Products industry median ROC (Joel Greenblatt) % is 11.69. United Heat Transfer's value of 6.43% is 45% below this industry median. Based on the distribution chart, United Heat Transfer ranks #1742 out of 3061 companies in the Industrial Products industry, which is below the industry midpoint. Overall, United Heat Transfer has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does United Heat Transfer's ROC (Joel Greenblatt) % compare to GEV and ETN?
According to the Industrial Products industry distribution chart, United Heat Transfer ranks #1742 out of 3061 companies for ROC (Joel Greenblatt) %. This places United Heat Transfer in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.69. United Heat Transfer's value of 6.43% is 45% below this benchmark. Historically, United Heat Transfer's own ROC (Joel Greenblatt) % has ranged from 8.68 to 22.04 over the past decade. While the company's 10-year median is 14.38 vs. the industry median of 11.69, United Heat Transfer 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 11.69, based on 3,061 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. United Heat Transfer's current ROC (Joel Greenblatt) % of 6.43% is 45% 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 United Heat Transfer and its competitors. For the Industrial Products industry, the median ROC (Joel Greenblatt) % is 11.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Heat Transfer's current ROC (Joel Greenblatt) % is 6.43%, which is 55% below median its own 10-year median of 14.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Heat Transfer stock overvalued right now?
United Heat Transfer (NSE:UHTL) has a current ROC (Joel Greenblatt) % of 6.43%. The current ROC (Joel Greenblatt) % is 6.43%, which is 55% below median its 10-year median of 14.38 and 45% below the Industrial Products industry median of 11.69. United Heat Transfer's overall GF Score™ is 16/100 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 United Heat Transfer (NSE:UHTL), the current ROC (Joel Greenblatt) % is 6.43% as of Sep. 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.
United Heat Transfer Ltd is engaged in the manufacture of a range of shell and tube heat exchangers, air cooled heat exchangers, pressure vessels and process flow skids equipment's which are used as critical equipment's for petrol and diesel engines, railway engines, maritime engines, cruse and cargo ships, ferries, pleasure boats, marine diesels, mining trucks, megayachts, heavy engines, fishing boats, heavy trucks, freighters, trawlers, heavy haulages, power gen sets, super tankers, off highway engines etc.
16GF Score
Get the complete analysis for NSE:UHTL
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
NSE:UHTL has been successfully added to your 
