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Ve WongTPE:1203 +3.74%78 ROC (Joel Greenblatt) % is 28.45% as of Mar. 2026, which is 18% above its 10-year median of 24.21. GuruFocus rates TPE:1203 with a GF Score™ of 78/100 and a GF Value™ of NT$36.13 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,981 Consumer Packaged Goods companies, Ve Wong ranks better than 76.33% 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. Ve Wong's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 28.45%.
The historical rank and industry rank for Ve Wong's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:1203'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 20.11 Med: 24.21 Max: 28.83
Current: 26.27
During the past 13 years, Ve Wong's highest ROC (Joel Greenblatt) % was 28.83%. The lowest was 20.11%. And the median was 24.21%.
TPE:1203's ROC (Joel Greenblatt) % is ranked better than 76.33% of 1981
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs TPE:1203: 26.27
Ve Wong's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 2.60% per year.
Ve Wong (TPE:1203) 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.
The historical data trend for Ve Wong'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.
TPE:1203 vs KHC, GIS: ROC (Joel Greenblatt) % Comparison
For the Packaged Foods subindustry, Ve Wong'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.
Ve Wong ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Ve Wong's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ve Wong's ROC (Joel Greenblatt) % falls into.
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 28.45% mean?
Ve Wong (TPE:1203) has a ROC (Joel Greenblatt) % of 28.45% 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 Ve Wong and its competitors. This is 18% above median its historical median of 24.21. Over the past decade, Ve Wong's ROC (Joel Greenblatt) % has ranged from 20.11 to 28.83. According to the industry distribution chart, Ve Wong ranks #469 out of 1981 companies in the Consumer Packaged Goods industry, placing it in the top 23.7%.
Is Ve Wong's ROC (Joel Greenblatt) % too high?
Ve Wong's current ROC (Joel Greenblatt) % of 28.45% is 18% above median its 10-year median of 24.21. Over the past 10 years, this metric has ranged from a low of 20.11 to a high of 28.83. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. Ve Wong's value of 28.45% is 137.3% above this industry median. Based on the distribution chart, Ve Wong ranks #469 out of 1981 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Ve Wong has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ve Wong's ROC (Joel Greenblatt) % compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Ve Wong ranks #469 out of 1981 companies for ROC (Joel Greenblatt) %. This places Ve Wong in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.99. Ve Wong's value of 28.45% is 137.3% above this benchmark. Historically, Ve Wong's own ROC (Joel Greenblatt) % has ranged from 20.11 to 28.83 over the past decade. While the company's 10-year median is 24.21 vs. the industry median of 11.99, Ve Wong 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 Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,981 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. Ve Wong's current ROC (Joel Greenblatt) % of 28.45% is 137.3% 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 Ve Wong and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ve Wong's current ROC (Joel Greenblatt) % is 28.45%, which is 18% above median its own 10-year median of 24.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ve Wong stock overvalued right now?
Based on GuruFocus' analysis, Ve Wong (TPE:1203) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$36.13, compared to a current price of NT$49.95 — trading 38.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 28.45%, which is 18% above median its 10-year median of 24.21 and 137.3% above the Consumer Packaged Goods industry median of 11.99. Ve Wong's overall GF Score™ is 78/100 with 3 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 Ve Wong (TPE:1203), the current ROC (Joel Greenblatt) % is 28.45% 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 Ve Wong (TPE:1203) Overvalued in 2026?
Based on GuruFocus' analysis, Ve Wong stock appears to be overvalued.
The current stock price of NT$49.95 is trading 38.3% above its estimated GF Value™ of NT$36.13.
GuruFocus considers Ve Wong to be Significantly Overvalued.
Key valuation signals for TPE:1203:
ROC (Joel Greenblatt) %: 28.45% (18% above median its 10-year median of 24.21)
GF Value™: NT$36.13 vs. price of NT$49.95 (38.3% above fair value)
Industry Position: 137.3% above the Consumer Packaged Goods median (#469 of 1981)
No single metric tells the full story. See the TPE:1203 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ve Wong Corp manufactures and distributes food products. The company is engaged in the production and sales of monosodium glutamate, soy sauce, instant noodles, canned food, and beverages, as well as residential and building development, leasing and sales, industrial plant development, leasing and sales, investment and construction of public construction, and import of foreign tobacco, alcohol, and beverages. The operating segments of the company are; the Condiment business, Fast food business, and others. The majority of its revenue is generated from the Condiment business.
78GF Score
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