Happy Square Outsourcing ServicesNSE:WHITEFORCE -2.61%30 ROC (Joel Greenblatt) % is 23.02% as of Mar. 2026, which is 56% below its 10-year median of 51.79. GuruFocus rates NSE:WHITEFORCE with a GF Score™ of 30/100. The stock has 5 warning signs investors should review. Among 1,080 Business Services companies, Happy Square Outsourcing Services ranks better than 52.22% 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. Happy Square Outsourcing Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.02%.
The historical rank and industry rank for Happy Square Outsourcing Services's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:WHITEFORCE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 23.02 Med: 51.79 Max: 67.92
Current: 23.02
During the past 4 years, Happy Square Outsourcing Services's highest ROC (Joel Greenblatt) % was 67.92%. The lowest was 23.02%. And the median was 51.79%.
NSE:WHITEFORCE's ROC (Joel Greenblatt) % is ranked better than 52.22% of 1080
companies
in the Business Services industry
Industry Median: 20.865
vs NSE:WHITEFORCE: 23.02
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.
* 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.
Happy Square Outsourcing Services Semi-Annual Data
Mar23
Mar24
Mar25
Mar26
ROC (Joel Greenblatt) %
54.55
67.92
49.03
23.02
NSE:WHITEFORCE vs KFY, RHI, TNET: ROC (Joel Greenblatt) % Comparison
For the Staffing & Employment Services subindustry, Happy Square Outsourcing Services'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.
Happy Square Outsourcing Services ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Happy Square Outsourcing Services's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Happy Square Outsourcing Services'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 (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 23.02% mean?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a ROC (Joel Greenblatt) % of 23.02% 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 Happy Square Outsourcing Services and its competitors. This is 56% below median its historical median of 51.79. Over the past decade, Happy Square Outsourcing Services' ROC (Joel Greenblatt) % has ranged from 23.02 to 67.92. According to the industry distribution chart, Happy Square Outsourcing Services ranks #516 out of 1080 companies in the Business Services industry, placing it in the top 47.8%.
Is Happy Square Outsourcing Services' ROC (Joel Greenblatt) % too high?
Happy Square Outsourcing Services' current ROC (Joel Greenblatt) % of 23.02% is 56% below median its 10-year median of 51.79. Over the past 10 years, this metric has ranged from a low of 23.02 to a high of 67.92. The Business Services industry median ROC (Joel Greenblatt) % is 20.87. Happy Square Outsourcing Services' value of 23.02% is 10.3% above this industry median. Based on the distribution chart, Happy Square Outsourcing Services ranks #516 out of 1080 companies in the Business Services industry, which is above the industry midpoint. Overall, Happy Square Outsourcing Services has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Happy Square Outsourcing Services' ROC (Joel Greenblatt) % compare to KFY and RHI?
According to the Business Services industry distribution chart, Happy Square Outsourcing Services ranks #516 out of 1080 companies for ROC (Joel Greenblatt) %. This puts Happy Square Outsourcing Services in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 20.87. Happy Square Outsourcing Services' value of 23.02% is 10.3% above this benchmark. Historically, Happy Square Outsourcing Services' own ROC (Joel Greenblatt) % has ranged from 23.02 to 67.92 over the past decade. While the company's 10-year median is 51.79 vs. the industry median of 20.87, Happy Square Outsourcing Services 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 20.87, based on 1,080 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. Happy Square Outsourcing Services's current ROC (Joel Greenblatt) % of 23.02% is 10.3% 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 Happy Square Outsourcing Services and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 20.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Square Outsourcing Services's current ROC (Joel Greenblatt) % is 23.02%, which is 56% below median its own 10-year median of 51.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Square Outsourcing Services stock overvalued right now?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a current ROC (Joel Greenblatt) % of 23.02%. The current ROC (Joel Greenblatt) % is 23.02%, which is 56% below median its 10-year median of 51.79 and 10.3% above the Business Services industry median of 20.87. Happy Square Outsourcing Services' overall GF Score™ is 30/100 with 5 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 Happy Square Outsourcing Services (NSE:WHITEFORCE), the current ROC (Joel Greenblatt) % is 23.02% 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.
Happy Square Outsourcing Services Business Description
Happy Square Outsourcing Services Ltd is a technology-based consulting firm, involved in tech-based human resource outsourcing business, which focuses on end-to-end solutions. It offers a wide array of services such as Recruitment, Payroll, Onboarding, and flexible staffing. Its comprehensive network, structured processes, professionalism, and work ethics ensure that the company remains at the top on the domestic scale. The company satisfies firms' staffing and recruitment needs in India through its specialized, rich knowledge.
30GF Score
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