Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Mayer Steel PipeTPE:2020 +0.94%75 ROC (Joel Greenblatt) % is 10.49% as of Dec. 2025, which is 34% below its 10-year median of 15.80. GuruFocus rates TPE:2020 with a GF Score™ of 75/100 and a GF Value™ of NT$20.86 (Fairly Valued). The stock has 5 warning signs investors should review. Among 632 Steel companies, Mayer Steel Pipe ranks better than 67.09% 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. Mayer Steel Pipe's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 10.49%.
The historical rank and industry rank for Mayer Steel Pipe's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2020'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8.28 Med: 15.8 Max: 32.08
Current: 12.11
During the past 13 years, Mayer Steel Pipe's highest ROC (Joel Greenblatt) % was 32.08%. The lowest was 8.28%. And the median was 15.80%.
TPE:2020's ROC (Joel Greenblatt) % is ranked better than 67.09% of 632
companies
in the Steel industry
Industry Median: 7.065
vs TPE:2020: 12.11
Mayer Steel Pipe's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.90% 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.
Mayer Steel Pipe ROC (Joel Greenblatt) % Related Terms
Mayer Steel Pipe ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Mayer Steel Pipe'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:2020 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Mayer Steel Pipe'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.
Mayer Steel Pipe ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Mayer Steel Pipe's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Mayer Steel Pipe'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 (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 10.49% mean?
Mayer Steel Pipe (TPE:2020) has a ROC (Joel Greenblatt) % of 10.49% 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 Mayer Steel Pipe and its competitors. This is 34% below median its historical median of 15.80. Over the past decade, Mayer Steel Pipe's ROC (Joel Greenblatt) % has ranged from 8.28 to 32.08. According to the industry distribution chart, Mayer Steel Pipe ranks #208 out of 632 companies in the Steel industry, placing it in the top 32.9%.
Is Mayer Steel Pipe's ROC (Joel Greenblatt) % too high?
Mayer Steel Pipe's current ROC (Joel Greenblatt) % of 10.49% is 34% below median its 10-year median of 15.80. Over the past 10 years, this metric has ranged from a low of 8.28 to a high of 32.08. The Steel industry median ROC (Joel Greenblatt) % is 7.07. Mayer Steel Pipe's value of 10.49% is 48.5% above this industry median. Based on the distribution chart, Mayer Steel Pipe ranks #208 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, Mayer Steel Pipe has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mayer Steel Pipe's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Mayer Steel Pipe ranks #208 out of 632 companies for ROC (Joel Greenblatt) %. This puts Mayer Steel Pipe in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.07. Mayer Steel Pipe's value of 10.49% is 48.5% above this benchmark. Historically, Mayer Steel Pipe's own ROC (Joel Greenblatt) % has ranged from 8.28 to 32.08 over the past decade. While the company's 10-year median is 15.80 vs. the industry median of 7.07, Mayer Steel Pipe 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 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. Mayer Steel Pipe's current ROC (Joel Greenblatt) % of 10.49% is 48.5% 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 Mayer Steel Pipe 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. Mayer Steel Pipe's current ROC (Joel Greenblatt) % is 10.49%, which is 34% below median its own 10-year median of 15.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mayer Steel Pipe stock overvalued right now?
Based on GuruFocus' analysis, Mayer Steel Pipe (TPE:2020) is currently considered Fairly Valued. The stock's GF Value™ is NT$20.86, compared to a current price of NT$21.45 — trading 2.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 10.49%, which is 34% below median its 10-year median of 15.80 and 48.5% above the Steel industry median of 7.07. Mayer Steel Pipe's overall GF Score™ is 75/100 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 Mayer Steel Pipe (TPE:2020), the current ROC (Joel Greenblatt) % is 10.49% 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 Mayer Steel Pipe (TPE:2020) Overvalued in 2026?
Based on GuruFocus' analysis, Mayer Steel Pipe stock appears to be overvalued.
The current stock price of NT$21.45 is trading 2.8% above its estimated GF Value™ of NT$20.86.
GuruFocus considers Mayer Steel Pipe to be Fairly Valued.
Key valuation signals for TPE:2020:
ROC (Joel Greenblatt) %: 10.49% (34% below median its 10-year median of 15.80)
GF Value™: NT$20.86 vs. price of NT$21.45 (2.8% above fair value)
Industry Position: 48.5% above the Steel median (#208 of 632)
No single metric tells the full story. See the TPE:2020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mayer Steel Pipe Corp operates as a steel pipe manufacturer in Taiwan. The primary business of the company and its entities is engaged in the production and sales of black steel pipes, galvanized steel pipes and stainless-steel coils for pipes. The company's reportable segments are the Steel Segment, Real Estate Investment Segment, Investment Segment, and Hotel Services Segment. The majority of revenue is derived from the Steel department, which focuses on the production and sales of black steel pipes, zinc-coated steel pipes, and stainless-steel coils for Pipes. Geographically it generates maximum revenue from Taiwan and the rest from Vietnam, Thailand, and other regions.
75GF Score
Get the complete analysis for TPE:2020
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
TPE:2020 has been successfully added to your 
