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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. Kao Hsing Chang Iron & Steel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.12%.
The historical rank and industry rank for Kao Hsing Chang Iron & Steel's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2008'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -8.02 Med: 3.01 Max: 21.64
Current: 11.35
During the past 13 years, Kao Hsing Chang Iron & Steel's highest ROC (Joel Greenblatt) % was 21.64%. The lowest was -8.02%. And the median was 3.01%.
TPE:2008's ROC (Joel Greenblatt) % is ranked better than 64.56% of 632
companies
in the Steel industry
Industry Median: 7.065
vs TPE:2008: 11.35
Kao Hsing Chang Iron & Steel (TPE:2008) 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.
Kao Hsing Chang Iron & Steel ROC (Joel Greenblatt) % Chart
TPE:2008 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Kao Hsing Chang Iron & Steel'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.
Kao Hsing Chang Iron & Steel ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Kao Hsing Chang Iron & Steel's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Kao Hsing Chang Iron & Steel's ROC (Joel Greenblatt) % falls into.
Kao Hsing Chang Iron & Steel 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 (Dec. 2025) 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 6.12% mean?
Kao Hsing Chang Iron & Steel (TPE:2008) has a ROC (Joel Greenblatt) % of 6.12% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Kao Hsing Chang Iron & Steel and its competitors. This is 103% above median its historical median of 3.01. According to the industry distribution chart, Kao Hsing Chang Iron & Steel ranks #224 out of 632 companies in the Steel industry, placing it in the top 35.4%.
Is Kao Hsing Chang Iron & Steel's ROC (Joel Greenblatt) % too high?
Kao Hsing Chang Iron & Steel's current ROC (Joel Greenblatt) % of 6.12% is 103% above median its 10-year median of 3.01. The Steel industry median ROC (Joel Greenblatt) % is 7.07. Kao Hsing Chang Iron & Steel's value of 6.12% is 13.4% below this industry median. Based on the distribution chart, Kao Hsing Chang Iron & Steel ranks #224 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, Kao Hsing Chang Iron & Steel has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Kao Hsing Chang Iron & Steel's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Kao Hsing Chang Iron & Steel ranks #224 out of 632 companies for ROC (Joel Greenblatt) %. This puts Kao Hsing Chang Iron & Steel in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.07. Kao Hsing Chang Iron & Steel's value of 6.12% is 13.4% below this benchmark. While the company's 10-year median is 3.01 vs. the industry median of 7.07, Kao Hsing Chang Iron & Steel 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.07, based on 632 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. Kao Hsing Chang Iron & Steel's current ROC (Joel Greenblatt) % of 6.12% is 13.4% 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 Kao Hsing Chang Iron & Steel and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kao Hsing Chang Iron & Steel's current ROC (Joel Greenblatt) % is 6.12%, which is 103% above median its own 10-year median of 3.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kao Hsing Chang Iron & Steel stock overvalued right now?
Based on GuruFocus' analysis, Kao Hsing Chang Iron & Steel (TPE:2008) is currently considered Fairly Valued. The stock's GF Value™ is NT$27.91, compared to a current price of NT$30.50 — trading 9.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 6.12%, which is 103% above median its 10-year median of 3.01 and 13.4% below the Steel industry median of 7.07. Kao Hsing Chang Iron & Steel's overall GF Score™ is 71/100 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 Kao Hsing Chang Iron & Steel (TPE:2008), the current ROC (Joel Greenblatt) % is 6.12% as of Dec. 2025. 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 Kao Hsing Chang Iron & Steel (TPE:2008) Overvalued in 2026?
Based on GuruFocus' analysis, Kao Hsing Chang Iron & Steel stock appears to be overvalued.
The current stock price of NT$30.50 is trading 9.3% above its estimated GF Value™ of NT$27.91.
GuruFocus considers Kao Hsing Chang Iron & Steel to be Fairly Valued.
Key valuation signals for TPE:2008:
ROC (Joel Greenblatt) %: 6.12% (103% above median its 10-year median of 3.01)
GF Value™: NT$27.91 vs. price of NT$30.50 (9.3% above fair value)
Industry Position: 13.4% below the Steel median (#224 of 632)
No single metric tells the full story. See the TPE:2008 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kao Hsing Chang Iron & Steel Corp is engaged in the manufacturing, processing, and trading of steel pipes and cold-rolled steel sheets; manufacturing of metal architectural components; leasing; carpark management; and wholesale of other products. The majority of its revenue comes from the steel pipe department. Its geographical segments are Taiwan, United States and Japan, of which the majority of the revenue comes from Taiwan.
71GF Score
Get the complete analysis for TPE:2008
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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