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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. China Resources Microelectronics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 19.36%.
The historical rank and industry rank for China Resources Microelectronics's ROC (Joel Greenblatt) % or its related term are showing as below:
SHSE:688396'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -5.89 Med: 13.79 Max: 48.07
Current: 12.92
During the past 10 years, China Resources Microelectronics's highest ROC (Joel Greenblatt) % was 48.07%. The lowest was -5.89%. And the median was 13.79%.
SHSE:688396's ROC (Joel Greenblatt) % is ranked better than 56.13% of 1028
companies
in the Semiconductors industry
Industry Median: 8.62
vs SHSE:688396: 12.92
China Resources Microelectronics (SHSE:688396) 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.
China Resources Microelectronics ROC (Joel Greenblatt) % Chart
SHSE:688396 vs NVDA, AVGO, MU: ROC (Joel Greenblatt) % Comparison
For the Semiconductors subindustry, China Resources Microelectronics'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.
China Resources Microelectronics ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, China Resources Microelectronics's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where China Resources Microelectronics's ROC (Joel Greenblatt) % falls into.
China Resources Microelectronics 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 19.36% mean?
China Resources Microelectronics (SHSE:688396) has a ROC (Joel Greenblatt) % of 19.36% 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 China Resources Microelectronics and its competitors. This is 40% above median its historical median of 13.79. According to the industry distribution chart, China Resources Microelectronics ranks #451 out of 1028 companies in the Semiconductors industry, placing it in the top 43.9%.
Is China Resources Microelectronics' ROC (Joel Greenblatt) % too high?
China Resources Microelectronics' current ROC (Joel Greenblatt) % of 19.36% is 40% above median its 10-year median of 13.79. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.62. China Resources Microelectronics' value of 19.36% is 124.6% above this industry median. Based on the distribution chart, China Resources Microelectronics ranks #451 out of 1028 companies in the Semiconductors industry, which is above the industry midpoint. Overall, China Resources Microelectronics has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does China Resources Microelectronics' ROC (Joel Greenblatt) % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, China Resources Microelectronics ranks #451 out of 1028 companies for ROC (Joel Greenblatt) %. This puts China Resources Microelectronics in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.62. China Resources Microelectronics' value of 19.36% is 124.6% above this benchmark. While the company's 10-year median is 13.79 vs. the industry median of 8.62, China Resources Microelectronics 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 a Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.62, based on 1,028 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. China Resources Microelectronics's current ROC (Joel Greenblatt) % of 19.36% is 124.6% 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 China Resources Microelectronics and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Resources Microelectronics's current ROC (Joel Greenblatt) % is 19.36%, which is 40% above median its own 10-year median of 13.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Microelectronics stock overvalued right now?
Based on GuruFocus' analysis, China Resources Microelectronics (SHSE:688396) is currently considered Fairly Valued. The stock's GF Value™ is ¥56.91, compared to a current price of ¥58.47 — trading 2.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 19.36%, which is 40% above median its 10-year median of 13.79 and 124.6% above the Semiconductors industry median of 8.62. China Resources Microelectronics' overall GF Score™ is 86/100 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 China Resources Microelectronics (SHSE:688396), the current ROC (Joel Greenblatt) % is 19.36% 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 China Resources Microelectronics (SHSE:688396) Overvalued in 2026?
Based on GuruFocus' analysis, China Resources Microelectronics stock appears to be overvalued.
The current stock price of ¥58.47 is trading 2.7% above its estimated GF Value™ of ¥56.91.
GuruFocus considers China Resources Microelectronics to be Fairly Valued.
Key valuation signals for SHSE:688396:
ROC (Joel Greenblatt) %: 19.36% (40% above median its 10-year median of 13.79)
GF Value™: ¥56.91 vs. price of ¥58.47 (2.7% above fair value)
Industry Position: 124.6% above the Semiconductors median (#451 of 1028)
No single metric tells the full story. See the SHSE:688396 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Resources Microelectronics Ltd is engaged in designing, producing, and selling power semiconductors, smart sensors and smart control products, as well as providing open wafer manufacturing, packaging and testing, and other manufacturing services.
86GF Score
Get the complete analysis for SHSE:688396
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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