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Iron Force Industrial CoTPE:2228 +2.84%90 ROC (Joel Greenblatt) % is 14.60% as of Dec. 2025, which is 33% below its 10-year median of 21.86. GuruFocus rates TPE:2228 with a GF Score™ of 90/100 and a GF Value™ of NT$92.78 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,330 Vehicles & Parts companies, Iron Force Industrial Co ranks better than 63.68% 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. Iron Force Industrial Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 14.60%.
The historical rank and industry rank for Iron Force Industrial Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2228'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.05 Med: 21.86 Max: 39.42
Current: 16.98
During the past 13 years, Iron Force Industrial Co's highest ROC (Joel Greenblatt) % was 39.42%. The lowest was 7.05%. And the median was 21.86%.
TPE:2228's ROC (Joel Greenblatt) % is ranked better than 63.68% of 1330
companies
in the Vehicles & Parts industry
Industry Median: 12.045
vs TPE:2228: 16.98
Iron Force Industrial Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 24.40% per year.
Iron Force Industrial Co (TPE:2228) 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.
Iron Force Industrial Co ROC (Joel Greenblatt) % Related Terms
Iron Force Industrial Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Iron Force Industrial 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.
Iron Force Industrial Co ROC (Joel Greenblatt) % Chart
TPE:2228 vs ORLY, AZO: ROC (Joel Greenblatt) % Comparison
For the Auto Parts subindustry, Iron Force Industrial 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.
Iron Force Industrial Co ROC (Joel Greenblatt) % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Iron Force Industrial Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Iron Force Industrial Co's ROC (Joel Greenblatt) % falls into.
Iron Force Industrial 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 (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 14.60% mean?
Iron Force Industrial Co (TPE:2228) has a ROC (Joel Greenblatt) % of 14.60% 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 Iron Force Industrial Co and its competitors. This is 33% below median its historical median of 21.86. Over the past decade, Iron Force Industrial Co's ROC (Joel Greenblatt) % has ranged from 7.05 to 39.42. According to the industry distribution chart, Iron Force Industrial Co ranks #483 out of 1330 companies in the Vehicles & Parts industry, placing it in the top 36.3%.
Is Iron Force Industrial Co's ROC (Joel Greenblatt) % too high?
Iron Force Industrial Co's current ROC (Joel Greenblatt) % of 14.60% is 33% below median its 10-year median of 21.86. Over the past 10 years, this metric has ranged from a low of 7.05 to a high of 39.42. The Vehicles & Parts industry median ROC (Joel Greenblatt) % is 12.05. Iron Force Industrial Co's value of 14.60% is 21.2% above this industry median. Based on the distribution chart, Iron Force Industrial Co ranks #483 out of 1330 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Iron Force Industrial Co has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Iron Force Industrial Co's ROC (Joel Greenblatt) % compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Iron Force Industrial Co ranks #483 out of 1330 companies for ROC (Joel Greenblatt) %. This puts Iron Force Industrial Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.05. Iron Force Industrial Co's value of 14.60% is 21.2% above this benchmark. Historically, Iron Force Industrial Co's own ROC (Joel Greenblatt) % has ranged from 7.05 to 39.42 over the past decade. While the company's 10-year median is 21.86 vs. the industry median of 12.05, Iron Force Industrial 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 Vehicles & Parts company?
The median ROC (Joel Greenblatt) % among Vehicles & Parts companies is 12.05, based on 1,330 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. Iron Force Industrial Co's current ROC (Joel Greenblatt) % of 14.60% is 21.2% 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 Iron Force Industrial Co and its competitors. For the Vehicles & Parts industry, the median ROC (Joel Greenblatt) % is 12.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Iron Force Industrial Co's current ROC (Joel Greenblatt) % is 14.60%, which is 33% below median its own 10-year median of 21.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Iron Force Industrial Co stock overvalued right now?
Based on GuruFocus' analysis, Iron Force Industrial Co (TPE:2228) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$92.78, compared to a current price of NT$79.70 — trading 14.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 14.60%, which is 33% below median its 10-year median of 21.86 and 21.2% above the Vehicles & Parts industry median of 12.05. Iron Force Industrial Co's overall GF Score™ is 90/100 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 Iron Force Industrial Co (TPE:2228), the current ROC (Joel Greenblatt) % is 14.60% 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 Iron Force Industrial Co (TPE:2228) Overvalued in 2026?
Based on GuruFocus' analysis, Iron Force Industrial Co stock appears to be undervalued.
The current stock price of NT$79.70 is trading 14.1% below its estimated GF Value™ of NT$92.78.
GuruFocus considers Iron Force Industrial Co to be Modestly Undervalued.
Key valuation signals for TPE:2228:
ROC (Joel Greenblatt) %: 14.60% (33% below median its 10-year median of 21.86)
GF Value™: NT$92.78 vs. price of NT$79.70 (14.1% below fair value)
Industry Position: 21.2% above the Vehicles & Parts median (#483 of 1330)
No single metric tells the full story. See the TPE:2228 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Iron Force Industrial Co Ltd is a Taiwan-based company mainly engaged in manufacturing and trading airbag inflators for automotive safety systems, high-precision metal tubes for seatbelt retractor/pretensioner systems, and trading display fixtures and other metal parts. The majority of its revenue is generated from the manufacturing and sales of automotive safety components. Geographically, the company generates maximum revenue from Mainland China and the rest from Taiwan and Europe.
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