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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. Anhui Province Natural Gas Development Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 13.09%.
SHSE:603689's ROC (Joel Greenblatt) % is ranked better than 57.65% of 1006
companies
in the Oil & Gas industry
Industry Median: 9.35
vs SHSE:603689: 12.76
Anhui Province Natural Gas Development Co (SHSE:603689) 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.
Anhui Province Natural Gas Development Co ROC (Joel Greenblatt) % Chart
Anhui Province Natural Gas Development Co Annual Data
SHSE:603689 vs WMB, EPD, ET: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Midstream subindustry, Anhui Province Natural Gas Development 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.
Anhui Province Natural Gas Development Co ROC (Joel Greenblatt) % vs Oil & Gas Industry
Anhui Province Natural Gas Development 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 13.09% mean?
Anhui Province Natural Gas Development Co (SHSE:603689) has a ROC (Joel Greenblatt) % of 13.09% 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 Anhui Province Natural Gas Development Co and its competitors. This is near median its historical median of 12.53. Over the past decade, Anhui Province Natural Gas Development Co's ROC (Joel Greenblatt) % has ranged from 7.47 to 15.54. According to the industry distribution chart, Anhui Province Natural Gas Development Co ranks #426 out of 1006 companies in the Oil & Gas industry, placing it in the top 42.3%.
Is Anhui Province Natural Gas Development Co's ROC (Joel Greenblatt) % too high?
Anhui Province Natural Gas Development Co's current ROC (Joel Greenblatt) % of 13.09% is near median its 10-year median of 12.53. Over the past 10 years, this metric has ranged from a low of 7.47 to a high of 15.54. The Oil & Gas industry median ROC (Joel Greenblatt) % is 9.35. Anhui Province Natural Gas Development Co's value of 13.09% is 40% above this industry median. Based on the distribution chart, Anhui Province Natural Gas Development Co ranks #426 out of 1006 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Anhui Province Natural Gas Development Co has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Anhui Province Natural Gas Development Co's ROC (Joel Greenblatt) % compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, Anhui Province Natural Gas Development Co ranks #426 out of 1006 companies for ROC (Joel Greenblatt) %. This puts Anhui Province Natural Gas Development Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 9.35. Anhui Province Natural Gas Development Co's value of 13.09% is 40% above this benchmark. Historically, Anhui Province Natural Gas Development Co's own ROC (Joel Greenblatt) % has ranged from 7.47 to 15.54 over the past decade. While the company's 10-year median is 12.53 vs. the industry median of 9.35, Anhui Province Natural Gas Development Co 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 an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 9.35, based on 1,006 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. Anhui Province Natural Gas Development Co's current ROC (Joel Greenblatt) % of 13.09% is 40% 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 Anhui Province Natural Gas Development Co and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 9.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Anhui Province Natural Gas Development Co's current ROC (Joel Greenblatt) % is 13.09%, which is near median its own 10-year median of 12.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anhui Province Natural Gas Development Co stock overvalued right now?
Based on GuruFocus' analysis, Anhui Province Natural Gas Development Co (SHSE:603689) is currently considered Fairly Valued. The stock's GF Value™ is ¥7.41, compared to a current price of ¥7.85 — trading 5.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 13.09%, which is near median its 10-year median of 12.53 and 40% above the Oil & Gas industry median of 9.35. Anhui Province Natural Gas Development Co's overall GF Score™ is 64/100 with 5 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 Anhui Province Natural Gas Development Co (SHSE:603689), the current ROC (Joel Greenblatt) % is 13.09% 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 Anhui Province Natural Gas Development Co (SHSE:603689) Overvalued in 2026?
Based on GuruFocus' analysis, Anhui Province Natural Gas Development Co stock appears to be overvalued.
The current stock price of ¥7.85 is trading 5.9% above its estimated GF Value™ of ¥7.41.
GuruFocus considers Anhui Province Natural Gas Development Co to be Fairly Valued.
Key valuation signals for SHSE:603689:
ROC (Joel Greenblatt) %: 13.09% (near median its 10-year median of 12.53)
GF Value™: ¥7.41 vs. price of ¥7.85 (5.9% above fair value)
Industry Position: 40% above the Oil & Gas median (#426 of 1006)
No single metric tells the full story. See the SHSE:603689 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anhui Province Natural Gas Development Co Ltd is a natural gas pipeline operator. It invests, constructs, operates and manages natural gas pipelines in Anhui Province. The company also participates in the development and construction of natural gas pipeline network in urban areas; manages natural gas resources on behalf of Anhui Province; sells natural gas; and market and competitive investment in other natural gas, CBM and other energy applications and related projects. The other business activities of the company are to invest in the development of natural gas and coal seams in the province Gas resources projects; other energy development projects; and to engage in other auxiliary businesses.
64GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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