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Property For IndustryPYIYF +37.95%79 ROC (Joel Greenblatt) % is 5,081.69% as of Dec. 2025, which is 88% below its 10-year median of 43,960.57. GuruFocus rates PYIYF with a GF Score™ of 79/100 and a GF Value™ of $1.22. The stock has 8 warning signs investors should review. Among 585 REITs companies, Property For Industry ranks better than 89.74% 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. Property For Industry's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5,081.69%.
The historical rank and industry rank for Property For Industry's ROC (Joel Greenblatt) % or its related term are showing as below:
PYIYF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1948.38 Med: 43960.57 Max: 179696.82
Current: 6187.7
During the past 13 years, Property For Industry's highest ROC (Joel Greenblatt) % was 179696.82%. The lowest was -1948.38%. And the median was 43960.57%.
PYIYF's ROC (Joel Greenblatt) % is ranked better than 89.74% of 585
companies
in the REITs industry
Industry Median: 179.69
vs PYIYF: 6187.70
Property For Industry's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Property For Industry (OTCPK:PYIYF) 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.
Property For Industry ROC (Joel Greenblatt) % Related Terms
Property For Industry ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Property For Industry'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.
Property For Industry ROC (Joel Greenblatt) % Chart
PYIYF vs PLD, PSA, EXR: ROC (Joel Greenblatt) % Comparison
For the REIT - Industrial subindustry, Property For Industry'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.
Property For Industry ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Property For Industry's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Property For Industry's ROC (Joel Greenblatt) % falls into.
Property For Industry 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 (Dec. 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 5,081.69% mean?
Property For Industry (PYIYF) has a ROC (Joel Greenblatt) % of 5,081.69% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Property For Industry and its competitors. This is 88% below median its historical median of 43,960.57. According to the industry distribution chart, Property For Industry ranks #60 out of 585 companies in the REITs industry, placing it in the top 10.3%.
Is Property For Industry's ROC (Joel Greenblatt) % too high?
Property For Industry's current ROC (Joel Greenblatt) % of 5,081.69% is 88% below median its 10-year median of 43,960.57. The REITs industry median ROC (Joel Greenblatt) % is 179.69. Property For Industry's value of 5,081.69% is 2728% above this industry median. Based on the distribution chart, Property For Industry ranks #60 out of 585 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Property For Industry has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Property For Industry's ROC (Joel Greenblatt) % compare to PLD and PSA?
According to the REITs industry distribution chart, Property For Industry ranks #60 out of 585 companies for ROC (Joel Greenblatt) %. This places Property For Industry in the top 10% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 179.69. Property For Industry's value of 5,081.69% is 2728% above this benchmark. While the company's 10-year median is 43,960.57 vs. the industry median of 179.69, Property For Industry 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 REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 179.69, based on 585 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. Property For Industry's current ROC (Joel Greenblatt) % of 5,081.69% is 2728% 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 Property For Industry and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 179.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Property For Industry's current ROC (Joel Greenblatt) % is 5,081.69%, which is 88% below median its own 10-year median of 43,960.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Property For Industry stock overvalued right now?
Property For Industry (PYIYF) has a current ROC (Joel Greenblatt) % of 5,081.69%. The stock's GF Value™ is $1.22, compared to a current price of $1.26 — trading 3.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 5,081.69%, which is 88% below median its 10-year median of 43,960.57 and 2728% above the REITs industry median of 179.69. Property For Industry's overall GF Score™ is 79/100 with 8 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 Property For Industry (PYIYF), the current ROC (Joel Greenblatt) % is 5,081.69% as of Dec. 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.
Is Property For Industry (PYIYF) Overvalued in 2026?
Based on GuruFocus' analysis, Property For Industry stock appears to be overvalued.
The current stock price of $1.26 is trading 3.3% above its estimated GF Value™ of $1.22.
Key valuation signals for PYIYF:
ROC (Joel Greenblatt) %: 5,081.69% (88% below median its 10-year median of 43,960.57)
GF Value™: $1.22 vs. price of $1.26 (3.3% above fair value)
Industry Position: 2728% above the REITs median (#60 of 585)
No single metric tells the full story. See the PYIYF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Property For Industry Ltd is a New Zealand-based industrial property investment company. The company's portfolio is predominantly composed of industrial properties. Its investment properties are solely located in New Zealand, with the majority in Auckland and the remaining in other New Zealand cities. Its tenants encompass large enterprises such as Fisher and Paykel Appliances, Fletcher Building Products, Brambles, and Cottonsoft, among others. Rental and management fee income represents nearly all of its operating revenue.
79GF Score
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