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Global TestingSGX:AYN 75 ROC (Joel Greenblatt) % is 20.70% as of Jun. 2026, which is 67% above its 10-year median of 12.43. GuruFocus rates SGX:AYN with a GF Score™ of 75/100 and a GF Value™ of S$1.19 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,038 Semiconductors companies, Global Testing ranks better than 57.51% 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. Global Testing's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 20.70%.
The historical rank and industry rank for Global Testing's ROC (Joel Greenblatt) % or its related term are showing as below:
SGX:AYN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.7 Med: 12.43 Max: 48.14
Current: 18.05
During the past 13 years, Global Testing's highest ROC (Joel Greenblatt) % was 48.14%. The lowest was -10.70%. And the median was 12.43%.
SGX:AYN's ROC (Joel Greenblatt) % is ranked better than 57.51% of 1038
companies
in the Semiconductors industry
Industry Median: 12.6
vs SGX:AYN: 18.05
Global Testing's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 26.10% per year.
Global Testing (SGX:AYN) 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.
Global Testing ROC (Joel Greenblatt) % Related Terms
Global Testing ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Global Testing'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.
SGX:AYN vs LRCX, AMAT, KLAC: ROC (Joel Greenblatt) % Comparison
For the Semiconductor Equipment & Materials subindustry, Global Testing'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.
Global Testing ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Global Testing's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Global Testing's ROC (Joel Greenblatt) % falls into.
Global Testing 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 (Jun. 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 20.70% mean?
Global Testing (SGX:AYN) has a ROC (Joel Greenblatt) % of 20.70% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Global Testing and its competitors. This is 67% above median its historical median of 12.43. According to the industry distribution chart, Global Testing ranks #441 out of 1038 companies in the Semiconductors industry, placing it in the top 42.5%.
Is Global Testing's ROC (Joel Greenblatt) % too high?
Global Testing's current ROC (Joel Greenblatt) % of 20.70% is 67% above median its 10-year median of 12.43. The Semiconductors industry median ROC (Joel Greenblatt) % is 12.60. Global Testing's value of 20.70% is 64.3% above this industry median. Based on the distribution chart, Global Testing ranks #441 out of 1038 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Global Testing has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Global Testing's ROC (Joel Greenblatt) % compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Global Testing ranks #441 out of 1038 companies for ROC (Joel Greenblatt) %. This puts Global Testing in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.60. Global Testing's value of 20.70% is 64.3% above this benchmark. While the company's 10-year median is 12.43 vs. the industry median of 12.60, Global Testing 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 Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 12.60, based on 1,038 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. Global Testing's current ROC (Joel Greenblatt) % of 20.70% is 64.3% 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 Global Testing and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 12.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Global Testing's current ROC (Joel Greenblatt) % is 20.70%, which is 67% above median its own 10-year median of 12.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Global Testing stock overvalued right now?
Based on GuruFocus' analysis, Global Testing (SGX:AYN) is currently considered Fairly Valued. The stock's GF Value™ is S$1.19, compared to a current price of S$1.20 — trading 0.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 20.70%, which is 67% above median its 10-year median of 12.43 and 64.3% above the Semiconductors industry median of 12.60. Global Testing's overall GF Score™ is 75/100 with 1 warning sign 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 Global Testing (SGX:AYN), the current ROC (Joel Greenblatt) % is 20.70% as of Jun. 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 Global Testing (SGX:AYN) Overvalued in 2026?
Based on GuruFocus' analysis, Global Testing stock appears to be overvalued.
The current stock price of S$1.20 is trading 0.8% above its estimated GF Value™ of S$1.19.
GuruFocus considers Global Testing to be Fairly Valued.
Key valuation signals for SGX:AYN:
ROC (Joel Greenblatt) %: 20.70% (67% above median its 10-year median of 12.43)
GF Value™: S$1.19 vs. price of S$1.20 (0.8% above fair value)
Industry Position: 64.3% above the Semiconductors median (#441 of 1038)
No single metric tells the full story. See the SGX:AYN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Global Testing Corp Ltd is engaged in providing testing services. The group provides testing services such as wafer sorting and final testing to the semiconductor industry, focusing on logic and mixed-signal semiconductors used in consumer electronics and communication devices. As part of its testing services, it provides test program development, conversion and optimization services, load board and probe card design, and leases its testers to its customers for trial and pilot testing purposes on an ad hoc basis. Geographically the business presence of the company is seen across the region of Singapore, the USA, Taiwan, Thailand, China, Japan, and other countries.
75GF Score
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