Tokyo ElectronTOELF -1.27%85 ROC (Joel Greenblatt) % is 65.02% as of Mar. 2026, which is 3% below its 10-year median of 66.87. GuruFocus rates TOELF with a GF Score™ of 85/100 and a GF Value™ of $202.71 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,027 Semiconductors companies, Tokyo Electron ranks better than 85.69% 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. Tokyo Electron's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 65.02%.
The historical rank and industry rank for Tokyo Electron's ROC (Joel Greenblatt) % or its related term are showing as below:
TOELF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 49.31 Med: 66.87 Max: 87.39
Current: 52.39
During the past 13 years, Tokyo Electron's highest ROC (Joel Greenblatt) % was 87.39%. The lowest was 49.31%. And the median was 66.87%.
TOELF's ROC (Joel Greenblatt) % is ranked better than 85.69% of 1027
companies
in the Semiconductors industry
Industry Median: 8.19
vs TOELF: 52.39
Tokyo Electron's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -4.90% per year.
Tokyo Electron (OTCPK:TOELF) 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.
Tokyo Electron ROC (Joel Greenblatt) % Related Terms
Tokyo Electron ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Tokyo Electron's ROC (Joel Greenblatt) % can be seen below:
* 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.
TOELF vs LRCX, AMAT, KLAC: ROC (Joel Greenblatt) % Comparison
For the Semiconductor Equipment & Materials subindustry, Tokyo Electron'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.
Tokyo Electron ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Tokyo Electron's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tokyo Electron's ROC (Joel Greenblatt) % falls into.
Tokyo Electron 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 65.02% mean?
Tokyo Electron (TOELF) has a ROC (Joel Greenblatt) % of 65.02% 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 Tokyo Electron and its competitors. This is near median its historical median of 66.87. Over the past decade, Tokyo Electron's ROC (Joel Greenblatt) % has ranged from 49.31 to 87.39. According to the industry distribution chart, Tokyo Electron ranks #147 out of 1027 companies in the Semiconductors industry, placing it in the top 14.3%.
Is Tokyo Electron's ROC (Joel Greenblatt) % too high?
Tokyo Electron's current ROC (Joel Greenblatt) % of 65.02% is near median its 10-year median of 66.87. Over the past 10 years, this metric has ranged from a low of 49.31 to a high of 87.39. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.19. Tokyo Electron's value of 65.02% is 693.9% above this industry median. Based on the distribution chart, Tokyo Electron ranks #147 out of 1027 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Tokyo Electron has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Electron's ROC (Joel Greenblatt) % compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Tokyo Electron ranks #147 out of 1027 companies for ROC (Joel Greenblatt) %. This places Tokyo Electron in the top 14% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.19. Tokyo Electron's value of 65.02% is 693.9% above this benchmark. Historically, Tokyo Electron's own ROC (Joel Greenblatt) % has ranged from 49.31 to 87.39 over the past decade. While the company's 10-year median is 66.87 vs. the industry median of 8.19, Tokyo Electron 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 8.19, based on 1,027 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. Tokyo Electron's current ROC (Joel Greenblatt) % of 65.02% is 693.9% 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 Tokyo Electron and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Electron's current ROC (Joel Greenblatt) % is 65.02%, which is near median its own 10-year median of 66.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Electron stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Electron (TOELF) is currently considered Significantly Overvalued. The stock's GF Value™ is $202.71, compared to a current price of $457.28 — trading 125.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 65.02%, which is near median its 10-year median of 66.87 and 693.9% above the Semiconductors industry median of 8.19. Tokyo Electron's overall GF Score™ is 85/100 with 8 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 Tokyo Electron (TOELF), the current ROC (Joel Greenblatt) % is 65.02% 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 Tokyo Electron (TOELF) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Electron stock appears to be overvalued.
The current stock price of $457.28 is trading 125.6% above its estimated GF Value™ of $202.71.
GuruFocus considers Tokyo Electron to be Significantly Overvalued.
Key valuation signals for TOELF:
ROC (Joel Greenblatt) %: 65.02% (near median its 10-year median of 66.87)
GF Value™: $202.71 vs. price of $457.28 (125.6% above fair value)
Industry Position: 693.9% above the Semiconductors median (#147 of 1027)
No single metric tells the full story. See the TOELF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Electron is a major supplier of semiconductor fabrication tools. It operates primarily in the etching, deposition, and cleaning segments, which involve adding and removing materials to and from semiconductor wafers. Customers include leading-edge logic, foundry, and memory chipmakers such as Samsung Electronics, Intel, TSMC, and SK Hynix.
85GF Score
Get the complete analysis for TOELF
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
TOELF has been successfully added to your 
