Manila Water CoPHS:MWC -2.29%93 ROC (Joel Greenblatt) % is 300.79% as of Mar. 2026, which is 41% above its 10-year median of 213.13. GuruFocus rates PHS:MWC with a GF Score™ of 93/100 and a GF Value™ of ₱36.01 (Fairly Valued). The stock has 4 warning signs investors should review. Among 505 Utilities - Regulated companies, Manila Water Co ranks better than 95.25% 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. Manila Water Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 300.79%.
The historical rank and industry rank for Manila Water Co's ROC (Joel Greenblatt) % or its related term are showing as below:
PHS:MWC'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 117.19 Med: 213.13 Max: 607.41
Current: 267.85
During the past 13 years, Manila Water Co's highest ROC (Joel Greenblatt) % was 607.41%. The lowest was 117.19%. And the median was 213.13%.
PHS:MWC's ROC (Joel Greenblatt) % is ranked better than 95.25% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.71
vs PHS:MWC: 267.85
Manila Water Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.00% per year.
Manila Water Co (PHS:MWC) 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.
Manila Water Co ROC (Joel Greenblatt) % Related Terms
Manila Water Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Manila Water 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.
PHS:MWC vs AWK, WTRG, AWR: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Water subindustry, Manila Water 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.
Manila Water Co ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Water Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Manila Water Co's ROC (Joel Greenblatt) % falls into.
Manila Water 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 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 300.79% mean?
Manila Water Co (PHS:MWC) has a ROC (Joel Greenblatt) % of 300.79% 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 Manila Water Co and its competitors. This is 41% above median its historical median of 213.13. Over the past decade, Manila Water Co's ROC (Joel Greenblatt) % has ranged from 117.19 to 607.41. According to the industry distribution chart, Manila Water Co ranks #24 out of 505 companies in the Utilities - Regulated industry, placing it in the top 4.8%.
Is Manila Water Co's ROC (Joel Greenblatt) % too high?
Manila Water Co's current ROC (Joel Greenblatt) % of 300.79% is 41% above median its 10-year median of 213.13. Over the past 10 years, this metric has ranged from a low of 117.19 to a high of 607.41. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.71. Manila Water Co's value of 300.79% is 2708.5% above this industry median. Based on the distribution chart, Manila Water Co ranks #24 out of 505 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Manila Water Co has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Water Co's ROC (Joel Greenblatt) % compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Manila Water Co ranks #24 out of 505 companies for ROC (Joel Greenblatt) %. This places Manila Water Co in the top 5% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.71. Manila Water Co's value of 300.79% is 2708.5% above this benchmark. Historically, Manila Water Co's own ROC (Joel Greenblatt) % has ranged from 117.19 to 607.41 over the past decade. While the company's 10-year median is 213.13 vs. the industry median of 10.71, Manila Water 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 an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.71, based on 505 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. Manila Water Co's current ROC (Joel Greenblatt) % of 300.79% is 2708.5% 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 Manila Water Co and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Water Co's current ROC (Joel Greenblatt) % is 300.79%, which is 41% above median its own 10-year median of 213.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manila Water Co stock overvalued right now?
Based on GuruFocus' analysis, Manila Water Co (PHS:MWC) is currently considered Fairly Valued. The stock's GF Value™ is ₱36.01, compared to a current price of ₱34.20 — trading 5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 300.79%, which is 41% above median its 10-year median of 213.13 and 2708.5% above the Utilities - Regulated industry median of 10.71. Manila Water Co's overall GF Score™ is 93/100 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 Manila Water Co (PHS:MWC), the current ROC (Joel Greenblatt) % is 300.79% 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 Manila Water Co (PHS:MWC) Overvalued in 2026?
Based on GuruFocus' analysis, Manila Water Co stock appears to be undervalued.
The current stock price of ₱34.20 is trading 5% below its estimated GF Value™ of ₱36.01.
GuruFocus considers Manila Water Co to be Fairly Valued.
Key valuation signals for PHS:MWC:
ROC (Joel Greenblatt) %: 300.79% (41% above median its 10-year median of 213.13)
GF Value™: ₱36.01 vs. price of ₱34.20 (5% below fair value)
Industry Position: 2708.5% above the Utilities - Regulated median (#24 of 505)
No single metric tells the full story. See the PHS:MWC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Manila Water Co Inc holds the exclusive right to provide water and used water services in the East Zone of Metro Manila under a concession agreement with the Metropolitan Waterworks and Sewerage System. The company delivers water treatment, distribution, sewerage, and sanitation services to a large population across residential, commercial, and industrial customers. Its service area covers several cities and municipalities in Metro Manila and nearby parts of Rizal, including urban centers such as Makati, Pasig, Quezon City, Taguig, and Marikina, along with surrounding towns.
93GF Score
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