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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. Ta Chen Stainless Pipe Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.32%.
The historical rank and industry rank for Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2027'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.17 Med: 9.8 Max: 22.33
Current: 12.51
During the past 13 years, Ta Chen Stainless Pipe Co's highest ROC (Joel Greenblatt) % was 22.33%. The lowest was 2.17%. And the median was 9.80%.
TPE:2027's ROC (Joel Greenblatt) % is ranked better than 69.04% of 633
companies
in the Steel industry
Industry Median: 7.27
vs TPE:2027: 12.51
Ta Chen Stainless Pipe Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.70% per year.
Ta Chen Stainless Pipe Co (TPE:2027) 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.
Ta Chen Stainless Pipe Co ROC (Joel Greenblatt) % Related Terms
Ta Chen Stainless Pipe Co ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Ta Chen Stainless Pipe Co'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.
Ta Chen Stainless Pipe Co ROC (Joel Greenblatt) % Chart
TPE:2027 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Ta Chen Stainless Pipe Co'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.
Ta Chen Stainless Pipe Co ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % falls into.
Ta Chen Stainless Pipe Co 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 16.32% mean?
Ta Chen Stainless Pipe Co (TPE:2027) has a ROC (Joel Greenblatt) % of 16.32% 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 Ta Chen Stainless Pipe Co and its competitors. This is 67% above median its historical median of 9.80. Over the past decade, Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % has ranged from 2.17 to 22.33. According to the industry distribution chart, Ta Chen Stainless Pipe Co ranks #196 out of 633 companies in the Steel industry, placing it in the top 31%.
Is Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % too high?
Ta Chen Stainless Pipe Co's current ROC (Joel Greenblatt) % of 16.32% is 67% above median its 10-year median of 9.80. Over the past 10 years, this metric has ranged from a low of 2.17 to a high of 22.33. The Steel industry median ROC (Joel Greenblatt) % is 7.27. Ta Chen Stainless Pipe Co's value of 16.32% is 124.5% above this industry median. Based on the distribution chart, Ta Chen Stainless Pipe Co ranks #196 out of 633 companies in the Steel industry, which is above the industry midpoint. Overall, Ta Chen Stainless Pipe Co has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ta Chen Stainless Pipe Co's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Ta Chen Stainless Pipe Co ranks #196 out of 633 companies for ROC (Joel Greenblatt) %. This puts Ta Chen Stainless Pipe Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.27. Ta Chen Stainless Pipe Co's value of 16.32% is 124.5% above this benchmark. Historically, Ta Chen Stainless Pipe Co's own ROC (Joel Greenblatt) % has ranged from 2.17 to 22.33 over the past decade. While the company's 10-year median is 9.80 vs. the industry median of 7.27, Ta Chen Stainless Pipe Co 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 7.27, based on 633 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. Ta Chen Stainless Pipe Co's current ROC (Joel Greenblatt) % of 16.32% is 124.5% 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 Ta Chen Stainless Pipe Co and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ta Chen Stainless Pipe Co's current ROC (Joel Greenblatt) % is 16.32%, which is 67% above median its own 10-year median of 9.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ta Chen Stainless Pipe Co stock overvalued right now?
Based on GuruFocus' analysis, Ta Chen Stainless Pipe Co (TPE:2027) is currently considered Fairly Valued. The stock's GF Value™ is NT$41.60, compared to a current price of NT$43.20 — trading 3.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 16.32%, which is 67% above median its 10-year median of 9.80 and 124.5% above the Steel industry median of 7.27. Ta Chen Stainless Pipe Co's overall GF Score™ is 79/100 with 2 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 Ta Chen Stainless Pipe Co (TPE:2027), the current ROC (Joel Greenblatt) % is 16.32% 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 Ta Chen Stainless Pipe Co (TPE:2027) Overvalued in 2026?
Based on GuruFocus' analysis, Ta Chen Stainless Pipe Co stock appears to be overvalued.
The current stock price of NT$43.20 is trading 3.8% above its estimated GF Value™ of NT$41.60.
GuruFocus considers Ta Chen Stainless Pipe Co to be Fairly Valued.
Key valuation signals for TPE:2027:
ROC (Joel Greenblatt) %: 16.32% (67% above median its 10-year median of 9.80)
GF Value™: NT$41.60 vs. price of NT$43.20 (3.8% above fair value)
Industry Position: 124.5% above the Steel median (#196 of 633)
No single metric tells the full story. See the TPE:2027 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ta Chen Stainless Pipe Co Ltd is engaged in the manufacturing, processing, and selling of stainless steel pipes and stainless steel pipe fittings, stainless steel plates, as well as the manufacturing and sale of venetian blinds. It is also engaged in the manufacturing and selling of aluminum products and the sale of screws and nuts. The Group's operating segments are: Stainless steel and aluminum, Aluminum manufacturing, Screws and nuts, and Curtain and decorations. The majority of its revenue is derived from the Stainless steel and aluminum segment, which offers stainless steel pipes, stainless steel pipe fittings, as well as stainless steel plates (rolls), bars, and aluminum products. Geographically, the Group generates maximum revenue from the USA, followed by Taiwan and other markets.
79GF Score
Get the complete analysis for TPE:2027
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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