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Ningbo Water Meter (Group) CoSHSE:603700 -1.54%70 ROC (Joel Greenblatt) % is 6.81% as of Jun. 2026, which is 90% below its 10-year median of 64.89. GuruFocus rates SHSE:603700 with a GF Score™ of 70/100 and a GF Value™ of ¥14.27 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 3,076 Industrial Products companies, Ningbo Water Meter (Group) Co ranks worse than 63.88% 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. Ningbo Water Meter (Group) Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 6.81%.
The historical rank and industry rank for Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % or its related term are showing as below:
SHSE:603700'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.26 Med: 64.89 Max: 102.78
Current: 6.26
During the past 13 years, Ningbo Water Meter (Group) Co's highest ROC (Joel Greenblatt) % was 102.78%. The lowest was 6.26%. And the median was 64.89%.
SHSE:603700's ROC (Joel Greenblatt) % is ranked worse than 63.88% of 3076
companies
in the Industrial Products industry
Industry Median: 12.005
vs SHSE:603700: 6.26
Ningbo Water Meter (Group) Co (SHSE:603700) 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.
Ningbo Water Meter (Group) Co ROC (Joel Greenblatt) % Chart
SHSE:603700 vs VRT, BE: ROC (Joel Greenblatt) % Comparison
For the Electrical Equipment & Parts subindustry, Ningbo Water Meter (Group) 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.
Ningbo Water Meter (Group) Co ROC (Joel Greenblatt) % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % falls into.
Ningbo Water Meter (Group) 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 6.81% mean?
Ningbo Water Meter (Group) Co (SHSE:603700) has a ROC (Joel Greenblatt) % of 6.81% 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 Ningbo Water Meter (Group) Co and its competitors. This is 90% below median its historical median of 64.89. Over the past decade, Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % has ranged from 6.26 to 102.78. According to the industry distribution chart, Ningbo Water Meter (Group) Co ranks #1965 out of 3076 companies in the Industrial Products industry, placing it in the top 63.9%.
Is Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % too high?
Ningbo Water Meter (Group) Co's current ROC (Joel Greenblatt) % of 6.81% is 90% below median its 10-year median of 64.89. Over the past 10 years, this metric has ranged from a low of 6.26 to a high of 102.78. The Industrial Products industry median ROC (Joel Greenblatt) % is 12.01. Ningbo Water Meter (Group) Co's value of 6.81% is 43.3% below this industry median. Based on the distribution chart, Ningbo Water Meter (Group) Co ranks #1965 out of 3076 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Ningbo Water Meter (Group) Co has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ningbo Water Meter (Group) Co's ROC (Joel Greenblatt) % compare to VRT and BE?
According to the Industrial Products industry distribution chart, Ningbo Water Meter (Group) Co ranks #1965 out of 3076 companies for ROC (Joel Greenblatt) %. This places Ningbo Water Meter (Group) Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 12.01. Ningbo Water Meter (Group) Co's value of 6.81% is 43.3% below this benchmark. Historically, Ningbo Water Meter (Group) Co's own ROC (Joel Greenblatt) % has ranged from 6.26 to 102.78 over the past decade. While the company's 10-year median is 64.89 vs. the industry median of 12.01, Ningbo Water Meter (Group) Co has consistently been below 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 Industrial Products company?
The median ROC (Joel Greenblatt) % among Industrial Products companies is 12.01, based on 3,076 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. Ningbo Water Meter (Group) Co's current ROC (Joel Greenblatt) % of 6.81% is 43.3% below 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 Ningbo Water Meter (Group) Co and its competitors. For the Industrial Products industry, the median ROC (Joel Greenblatt) % is 12.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ningbo Water Meter (Group) Co's current ROC (Joel Greenblatt) % is 6.81%, which is 90% below median its own 10-year median of 64.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ningbo Water Meter (Group) Co stock overvalued right now?
Based on GuruFocus' analysis, Ningbo Water Meter (Group) Co (SHSE:603700) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥14.27, compared to a current price of ¥11.54 — trading 19.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 6.81%, which is 90% below median its 10-year median of 64.89 and 43.3% below the Industrial Products industry median of 12.01. Ningbo Water Meter (Group) Co's overall GF Score™ is 70/100 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 Ningbo Water Meter (Group) Co (SHSE:603700), the current ROC (Joel Greenblatt) % is 6.81% 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 Ningbo Water Meter (Group) Co (SHSE:603700) Overvalued in 2026?
Based on GuruFocus' analysis, Ningbo Water Meter (Group) Co stock appears to be undervalued.
The current stock price of ¥11.54 is trading 19.1% below its estimated GF Value™ of ¥14.27.
GuruFocus considers Ningbo Water Meter (Group) Co to be Modestly Undervalued.
Key valuation signals for SHSE:603700:
ROC (Joel Greenblatt) %: 6.81% (90% below median its 10-year median of 64.89)
GF Value™: ¥14.27 vs. price of ¥11.54 (19.1% below fair value)
Industry Position: 43.3% below the Industrial Products median (#1965 of 3076)
No single metric tells the full story. See the SHSE:603700 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ningbo Water Meter (Group) Co Ltd is engaged in manufacturing water meters. The product portfolio includes liquid sealed water meters, volumetric rotary piston water meter, manual batch control water meter, multi-jet dry type water meter and others.
70GF Score
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