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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. Qinghai Spring Medicinal Resources Technology Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -9.60%.
SHSE:600381's ROC (Joel Greenblatt) % is ranked worse than 75.05% of 982
companies
in the Drug Manufacturers industry
Industry Median: 11.28
vs SHSE:600381: -7.31
Qinghai Spring Medicinal Resources Technology Co (SHSE:600381) 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.
Qinghai Spring Medicinal Resources Technology Co ROC (Joel Greenblatt) % Chart
Qinghai Spring Medicinal Resources Technology Co Annual Data
SHSE:600381 vs ZTS: ROC (Joel Greenblatt) % Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Qinghai Spring Medicinal Resources Technology 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.
Qinghai Spring Medicinal Resources Technology Co ROC (Joel Greenblatt) % vs Drug Manufacturers Industry
Qinghai Spring Medicinal Resources Technology 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 -9.60% mean?
Qinghai Spring Medicinal Resources Technology Co (SHSE:600381) has a ROC (Joel Greenblatt) % of -9.60% 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 Qinghai Spring Medicinal Resources Technology Co and its competitors. According to the industry distribution chart, Qinghai Spring Medicinal Resources Technology Co ranks #737 out of 982 companies in the Drug Manufacturers industry, placing it in the top 75.1%.
Is Qinghai Spring Medicinal Resources Technology Co's ROC (Joel Greenblatt) % too high?
Qinghai Spring Medicinal Resources Technology Co's current ROC (Joel Greenblatt) % is -9.60%. Based on the distribution chart, Qinghai Spring Medicinal Resources Technology Co ranks #737 out of 982 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Qinghai Spring Medicinal Resources Technology Co has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Qinghai Spring Medicinal Resources Technology Co's ROC (Joel Greenblatt) % compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Qinghai Spring Medicinal Resources Technology Co ranks #737 out of 982 companies for ROC (Joel Greenblatt) %. This places Qinghai Spring Medicinal Resources Technology Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.28. 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 Drug Manufacturers company?
The median ROC (Joel Greenblatt) % among Drug Manufacturers companies is 11.28, based on 982 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. 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 Qinghai Spring Medicinal Resources Technology Co and its competitors. For the Drug Manufacturers industry, the median ROC (Joel Greenblatt) % is 11.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qinghai Spring Medicinal Resources Technology Co's current ROC (Joel Greenblatt) % is -9.60%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qinghai Spring Medicinal Resources Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Qinghai Spring Medicinal Resources Technology Co (SHSE:600381) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥5.90, compared to a current price of ¥4.26 — trading 27.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is -9.60%. Qinghai Spring Medicinal Resources Technology Co's overall GF Score™ is 59/100. 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 Qinghai Spring Medicinal Resources Technology Co (SHSE:600381), the current ROC (Joel Greenblatt) % is -9.60% 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 Qinghai Spring Medicinal Resources Technology Co (SHSE:600381) Overvalued in 2026?
Based on GuruFocus' analysis, Qinghai Spring Medicinal Resources Technology Co stock appears to be undervalued.
The current stock price of ¥4.26 is trading 27.8% below its estimated GF Value™ of ¥5.90.
GuruFocus considers Qinghai Spring Medicinal Resources Technology Co to be Modestly Undervalued.
Key valuation signals for SHSE:600381:
ROC (Joel Greenblatt) %: -9.60%
GF Value™: ¥5.90 vs. price of ¥4.26 (27.8% below fair value)
No single metric tells the full story. See the SHSE:600381 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Qinghai Spring Medicinal Resources Technology Co Ltd is a China-based company that principally engaged in the integrated development, utilization, production, sales, and consulting services of the natural advantageous resources on the Qinghai-Tibet plateau, as well as the development and utilization of other biological resources. The Company's main products are the cordyceps sinensis series products under the Verygrass brand, which includes cordyceps sinensis pure powder tablet, processed cordyceps sinensis, and raw cordyceps sinensis.
59GF Score
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