Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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. Beijing Hanjian Heshan Pipeline Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -7.73%.
The historical rank and industry rank for Beijing Hanjian Heshan Pipeline Co's ROC (Joel Greenblatt) % or its related term are showing as below:
SHSE:603616'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -174.22 Med: -0.38 Max: 31.86
Current: -5.78
During the past 13 years, Beijing Hanjian Heshan Pipeline Co's highest ROC (Joel Greenblatt) % was 31.86%. The lowest was -174.22%. And the median was -0.38%.
SHSE:603616's ROC (Joel Greenblatt) % is ranked worse than 86.19% of 630
companies
in the Steel industry
Industry Median: 8.45
vs SHSE:603616: -5.78
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.
Beijing Hanjian Heshan Pipeline Co ROC (Joel Greenblatt) % Chart
SHSE:603616 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Beijing Hanjian Heshan Pipeline 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.
Beijing Hanjian Heshan Pipeline Co ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Beijing Hanjian Heshan Pipeline Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Beijing Hanjian Heshan Pipeline Co's ROC (Joel Greenblatt) % falls into.
Beijing Hanjian Heshan Pipeline 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 (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 -7.73% mean?
Beijing Hanjian Heshan Pipeline Co (SHSE:603616) has a ROC (Joel Greenblatt) % of -7.73% 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 Beijing Hanjian Heshan Pipeline Co and its competitors. According to the industry distribution chart, Beijing Hanjian Heshan Pipeline Co ranks #543 out of 630 companies in the Steel industry, placing it in the top 86.2%.
Is Beijing Hanjian Heshan Pipeline Co's ROC (Joel Greenblatt) % too high?
Beijing Hanjian Heshan Pipeline Co's current ROC (Joel Greenblatt) % is -7.73%. Based on the distribution chart, Beijing Hanjian Heshan Pipeline Co ranks #543 out of 630 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Beijing Hanjian Heshan Pipeline Co has a GF Score™ of 51/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Beijing Hanjian Heshan Pipeline Co's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Beijing Hanjian Heshan Pipeline Co ranks #543 out of 630 companies for ROC (Joel Greenblatt) %. This places Beijing Hanjian Heshan Pipeline Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.45. 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 8.45, based on 630 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 Beijing Hanjian Heshan Pipeline Co and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 8.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Beijing Hanjian Heshan Pipeline Co's current ROC (Joel Greenblatt) % is -7.73%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beijing Hanjian Heshan Pipeline Co stock overvalued right now?
Based on GuruFocus' analysis, Beijing Hanjian Heshan Pipeline Co (SHSE:603616) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥5.01, compared to a current price of ¥5.74 — trading 14.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is -7.73%. Beijing Hanjian Heshan Pipeline Co's overall GF Score™ is 51/100 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 Beijing Hanjian Heshan Pipeline Co (SHSE:603616), the current ROC (Joel Greenblatt) % is -7.73% 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 Beijing Hanjian Heshan Pipeline Co (SHSE:603616) Overvalued in 2026?
Based on GuruFocus' analysis, Beijing Hanjian Heshan Pipeline Co stock appears to be overvalued.
The current stock price of ¥5.74 is trading 14.6% above its estimated GF Value™ of ¥5.01.
GuruFocus considers Beijing Hanjian Heshan Pipeline Co to be Modestly Overvalued.
Key valuation signals for SHSE:603616:
ROC (Joel Greenblatt) %: -7.73%
GF Value™: ¥5.01 vs. price of ¥5.74 (14.6% above fair value)
No single metric tells the full story. See the SHSE:603616 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Beijing Hanjian Heshan Pipeline Co Ltd is engaged in the production of pre-stressed steel cylinder concrete pipe (PCCP), pressure steel pipe and pressure steel pipe, drainage pipe, commercial concrete. The company's main products are PCCP of DN600-DN4000, full range of concrete drainage pipes (RCP) of DN300-DN3000, concrete of various strength grades and special concrete.
51GF Score
Get the complete analysis for SHSE:603616
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SHSE:603616 has been successfully added to your 
