The Philippine Stock ExchangePHS:PSE 77 ROC (Joel Greenblatt) % is 156.49% as of Mar. 2026, which is 88% above its 10-year median of 83.31. GuruFocus rates PHS:PSE with a GF Score™ of 77/100 and a GF Value™ of ₱378.67 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 678 Capital Markets companies, The Philippine Stock Exchange ranks better than 68.73% 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. The Philippine Stock Exchange's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 156.49%.
The historical rank and industry rank for The Philippine Stock Exchange's ROC (Joel Greenblatt) % or its related term are showing as below:
PHS:PSE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 62.63 Med: 83.31 Max: 149.06
Current: 149.06
During the past 13 years, The Philippine Stock Exchange's highest ROC (Joel Greenblatt) % was 149.06%. The lowest was 62.63%. And the median was 83.31%.
PHS:PSE's ROC (Joel Greenblatt) % is ranked better than 68.73% of 678
companies
in the Capital Markets industry
Industry Median: 34.64
vs PHS:PSE: 149.06
The Philippine Stock Exchange (PHS:PSE) 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.
* 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.
The Philippine Stock Exchange ROC (Joel Greenblatt) % Chart
PHS:PSE vs SPGI, CME, MCO: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, The Philippine Stock Exchange'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.
The Philippine Stock Exchange ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, The Philippine Stock Exchange's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where The Philippine Stock Exchange's ROC (Joel Greenblatt) % falls into.
The Philippine Stock Exchange 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 156.49% mean?
The Philippine Stock Exchange (PHS:PSE) has a ROC (Joel Greenblatt) % of 156.49% 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 The Philippine Stock Exchange and its competitors. This is 88% above median its historical median of 83.31. Over the past decade, The Philippine Stock Exchange's ROC (Joel Greenblatt) % has ranged from 62.63 to 149.06. According to the industry distribution chart, The Philippine Stock Exchange ranks #212 out of 678 companies in the Capital Markets industry, placing it in the top 31.3%.
Is The Philippine Stock Exchange's ROC (Joel Greenblatt) % too high?
The Philippine Stock Exchange's current ROC (Joel Greenblatt) % of 156.49% is 88% above median its 10-year median of 83.31. Over the past 10 years, this metric has ranged from a low of 62.63 to a high of 149.06. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.64. The Philippine Stock Exchange's value of 156.49% is 351.8% above this industry median. Based on the distribution chart, The Philippine Stock Exchange ranks #212 out of 678 companies in the Capital Markets industry, which is above the industry midpoint. Overall, The Philippine Stock Exchange has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Philippine Stock Exchange's ROC (Joel Greenblatt) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, The Philippine Stock Exchange ranks #212 out of 678 companies for ROC (Joel Greenblatt) %. This puts The Philippine Stock Exchange in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 34.64. The Philippine Stock Exchange's value of 156.49% is 351.8% above this benchmark. Historically, The Philippine Stock Exchange's own ROC (Joel Greenblatt) % has ranged from 62.63 to 149.06 over the past decade. While the company's 10-year median is 83.31 vs. the industry median of 34.64, The Philippine Stock Exchange 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 Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.64, based on 678 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. The Philippine Stock Exchange's current ROC (Joel Greenblatt) % of 156.49% is 351.8% 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 The Philippine Stock Exchange and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Philippine Stock Exchange's current ROC (Joel Greenblatt) % is 156.49%, which is 88% above median its own 10-year median of 83.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Philippine Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, The Philippine Stock Exchange (PHS:PSE) is currently considered Significantly Undervalued. The stock's GF Value™ is ₱378.67, compared to a current price of ₱203.00 — trading 46.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 156.49%, which is 88% above median its 10-year median of 83.31 and 351.8% above the Capital Markets industry median of 34.64. The Philippine Stock Exchange's overall GF Score™ is 77/100 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 The Philippine Stock Exchange (PHS:PSE), the current ROC (Joel Greenblatt) % is 156.49% 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 The Philippine Stock Exchange (PHS:PSE) Overvalued in 2026?
Based on GuruFocus' analysis, The Philippine Stock Exchange stock appears to be undervalued.
The current stock price of ₱203.00 is trading 46.4% below its estimated GF Value™ of ₱378.67.
GuruFocus considers The Philippine Stock Exchange to be Significantly Undervalued.
Key valuation signals for PHS:PSE:
ROC (Joel Greenblatt) %: 156.49% (88% above median its 10-year median of 83.31)
GF Value™: ₱378.67 vs. price of ₱203.00 (46.4% below fair value)
Industry Position: 351.8% above the Capital Markets median (#212 of 678)
No single metric tells the full story. See the PHS:PSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Philippine Stock Exchange Business Description
The Philippine Stock Exchange Inc is a Philippines-based stock corporation. The company's business is to provide and maintain a convenient and suitable market for the exchange, purchase, and sale of all types of securities and other instruments. The company's business segments include: Equity, Clearing and Settlement Business; and Depository and Fixed Income Business. It derives maximum revenue from Equity, Clearing and Settlement Business. The sources of revenue also consist of listing-related fees for initial public offerings, annual listing maintenance membership, transactions, data feeds, and miscellaneous fees.
77GF Score
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