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Hey-SongTPE:1234 +0.45%66 ROC (Joel Greenblatt) % is 5.47% as of Mar. 2026, which is 40% below its 10-year median of 9.17. GuruFocus rates TPE:1234 with a GF Score™ of 66/100 and a GF Value™ of NT$37.51 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 116 Beverages - Non-Alcoholic companies, Hey-Song ranks worse than 73.28% 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. Hey-Song's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.47%.
The historical rank and industry rank for Hey-Song's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:1234'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.45 Med: 9.17 Max: 15.05
Current: 7.39
During the past 13 years, Hey-Song's highest ROC (Joel Greenblatt) % was 15.05%. The lowest was 6.45%. And the median was 9.17%.
TPE:1234's ROC (Joel Greenblatt) % is ranked worse than 73.28% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 20.385
vs TPE:1234: 7.39
Hey-Song's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -0.20% per year.
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 Hey-Song'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:1234 vs KO, PEP, MNST: ROC (Joel Greenblatt) % Comparison
For the Beverages - Non-Alcoholic subindustry, Hey-Song'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.
Hey-Song ROC (Joel Greenblatt) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Hey-Song's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hey-Song'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 5.47% mean?
Hey-Song (TPE:1234) has a ROC (Joel Greenblatt) % of 5.47% 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 Hey-Song and its competitors. This is 40% below median its historical median of 9.17. Over the past decade, Hey-Song's ROC (Joel Greenblatt) % has ranged from 6.45 to 15.05. According to the industry distribution chart, Hey-Song ranks #85 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 73.3%.
Is Hey-Song's ROC (Joel Greenblatt) % too high?
Hey-Song's current ROC (Joel Greenblatt) % of 5.47% is 40% below median its 10-year median of 9.17. Over the past 10 years, this metric has ranged from a low of 6.45 to a high of 15.05. The Beverages - Non-Alcoholic industry median ROC (Joel Greenblatt) % is 20.39. Hey-Song's value of 5.47% is 73.2% below this industry median. Based on the distribution chart, Hey-Song ranks #85 out of 116 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Hey-Song has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hey-Song's ROC (Joel Greenblatt) % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Hey-Song ranks #85 out of 116 companies for ROC (Joel Greenblatt) %. This places Hey-Song in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 20.39. Hey-Song's value of 5.47% is 73.2% below this benchmark. Historically, Hey-Song's own ROC (Joel Greenblatt) % has ranged from 6.45 to 15.05 over the past decade. While the company's 10-year median is 9.17 vs. the industry median of 20.39, Hey-Song 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 a Beverages - Non-Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Non-Alcoholic companies is 20.39, based on 116 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. Hey-Song's current ROC (Joel Greenblatt) % of 5.47% is 73.2% 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 Hey-Song and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC (Joel Greenblatt) % is 20.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hey-Song's current ROC (Joel Greenblatt) % is 5.47%, which is 40% below median its own 10-year median of 9.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hey-Song stock overvalued right now?
Based on GuruFocus' analysis, Hey-Song (TPE:1234) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$37.51, compared to a current price of NT$33.80 — trading 9.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 5.47%, which is 40% below median its 10-year median of 9.17 and 73.2% below the Beverages - Non-Alcoholic industry median of 20.39. Hey-Song's overall GF Score™ is 66/100 with 9 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 Hey-Song (TPE:1234), the current ROC (Joel Greenblatt) % is 5.47% 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 Hey-Song (TPE:1234) Overvalued in 2026?
Based on GuruFocus' analysis, Hey-Song stock appears to be undervalued.
The current stock price of NT$33.80 is trading 9.9% below its estimated GF Value™ of NT$37.51.
GuruFocus considers Hey-Song to be Modestly Undervalued.
Key valuation signals for TPE:1234:
ROC (Joel Greenblatt) %: 5.47% (40% below median its 10-year median of 9.17)
GF Value™: NT$37.51 vs. price of NT$33.80 (9.9% below fair value)
Industry Position: 73.2% below the Beverages - Non-Alcoholic median (#85 of 116)
No single metric tells the full story. See the TPE:1234 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hey-Song Corp is a Taiwanese company engaged in the production and sale of beverages bearing its brand, OEM production and distribution of beverages for other brands, and distribution and sale of domestic and imported liquors. It produces a diversified range of alcoholic and non-alcoholic beverages, including tea, coffee, brandy, wine, whisky, juice, Chinese liquor, and tonic drinks, among others, which are marketed through brands like Black Pine, C&C, Wayne, Kinmen Kaoliang, Hardys, Saint Remy, McLeod, etc. The company's reportable segments are the Beverages business unit-beverages, which generates maximum revenue, the Beverages business unit-liquors, and the Property lease department. Geographically, it generates maximum revenue from Taiwan, followed by China.
66GF Score
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