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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. Shanghai New Power Automotive Technology Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 19.40%.
SHSE:600841's ROC (Joel Greenblatt) % is ranked better than 98.57% of 210
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 13.2
vs SHSE:600841: 249.65
Shanghai New Power Automotive Technology Co (SHSE:600841) 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.
Shanghai New Power Automotive Technology Co ROC (Joel Greenblatt) % Chart
Shanghai New Power Automotive Technology Co Annual Data
SHSE:600841 vs CAT, DE, PCAR: ROC (Joel Greenblatt) % Comparison
For the Farm & Heavy Construction Machinery subindustry, Shanghai New Power Automotive 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.
Shanghai New Power Automotive Technology Co ROC (Joel Greenblatt) % vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Shanghai New Power Automotive Technology Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Shanghai New Power Automotive Technology Co's ROC (Joel Greenblatt) % falls into.
Shanghai New Power Automotive 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 19.40% mean?
Shanghai New Power Automotive Technology Co (SHSE:600841) has a ROC (Joel Greenblatt) % of 19.40% 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 Shanghai New Power Automotive Technology Co and its competitors. According to the industry distribution chart, Shanghai New Power Automotive Technology Co ranks #3 out of 210 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 1.4%.
Is Shanghai New Power Automotive Technology Co's ROC (Joel Greenblatt) % too high?
Shanghai New Power Automotive Technology Co's current ROC (Joel Greenblatt) % is 19.40%. The Farm & Heavy Construction Machinery industry median ROC (Joel Greenblatt) % is 13.20. Shanghai New Power Automotive Technology Co's value of 19.40% is 47% above this industry median. Based on the distribution chart, Shanghai New Power Automotive Technology Co ranks #3 out of 210 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Shanghai New Power Automotive Technology Co has a GF Score™ of 60/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shanghai New Power Automotive Technology Co's ROC (Joel Greenblatt) % compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Shanghai New Power Automotive Technology Co ranks #3 out of 210 companies for ROC (Joel Greenblatt) %. This places Shanghai New Power Automotive Technology Co in the top 1% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 13.20. Shanghai New Power Automotive Technology Co's value of 19.40% is 47% above this benchmark. 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 Farm & Heavy Construction Machinery company?
The median ROC (Joel Greenblatt) % among Farm & Heavy Construction Machinery companies is 13.20, based on 210 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. Shanghai New Power Automotive Technology Co's current ROC (Joel Greenblatt) % of 19.40% is 47% 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 Shanghai New Power Automotive Technology Co and its competitors. For the Farm & Heavy Construction Machinery industry, the median ROC (Joel Greenblatt) % is 13.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai New Power Automotive Technology Co's current ROC (Joel Greenblatt) % is 19.40%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai New Power Automotive Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Shanghai New Power Automotive Technology Co (SHSE:600841) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥5.01, compared to a current price of ¥5.91 — trading 18% above its estimated fair value. The current ROC (Joel Greenblatt) % is 19.40% and 47% above the Farm & Heavy Construction Machinery industry median of 13.20. Shanghai New Power Automotive Technology Co's overall GF Score™ is 60/100 with 6 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 Shanghai New Power Automotive Technology Co (SHSE:600841), the current ROC (Joel Greenblatt) % is 19.40% 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 Shanghai New Power Automotive Technology Co (SHSE:600841) Overvalued in 2026?
Based on GuruFocus' analysis, Shanghai New Power Automotive Technology Co stock appears to be overvalued.
The current stock price of ¥5.91 is trading 18% above its estimated GF Value™ of ¥5.01.
GuruFocus considers Shanghai New Power Automotive Technology Co to be Modestly Overvalued.
Key valuation signals for SHSE:600841:
ROC (Joel Greenblatt) %: 19.40%
GF Value™: ¥5.01 vs. price of ¥5.91 (18% above fair value)
Industry Position: 47% above the Farm & Heavy Construction Machinery median (#3 of 210)
No single metric tells the full story. See the SHSE:600841 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shanghai New Power Automotive Technology Co Ltd formerly Shanghai Diesel Engine Co Ltd is engaged in research, development, and manufacture of engines, engine parts, and generator set in China. Its products include truck engine, construction machinery engine, bus engine, agricultural machinery engine, power generation engine, marine engine, and generator set. The company distributes its products within the domestic market and to overseas markets.
60GF Score
Get the complete analysis for SHSE:600841
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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