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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. Hwang Chang General Contractor Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.13%.
The historical rank and industry rank for Hwang Chang General Contractor Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2543'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -77.16 Med: 14.67 Max: 41.26
Current: 18.47
During the past 13 years, Hwang Chang General Contractor Co's highest ROC (Joel Greenblatt) % was 41.26%. The lowest was -77.16%. And the median was 14.67%.
TPE:2543's ROC (Joel Greenblatt) % is ranked worse than 51.63% of 1780
companies
in the Construction industry
Industry Median: 19.86
vs TPE:2543: 18.47
Hwang Chang General Contractor Co (TPE:2543) 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.
Hwang Chang General Contractor Co ROC (Joel Greenblatt) % Chart
TPE:2543 vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Hwang Chang General Contractor 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.
Hwang Chang General Contractor Co ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Hwang Chang General Contractor Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hwang Chang General Contractor Co's ROC (Joel Greenblatt) % falls into.
Hwang Chang General Contractor 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 10.13% mean?
Hwang Chang General Contractor Co (TPE:2543) has a ROC (Joel Greenblatt) % of 10.13% 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 Hwang Chang General Contractor Co and its competitors. This is 31% below median its historical median of 14.67. According to the industry distribution chart, Hwang Chang General Contractor Co ranks #919 out of 1780 companies in the Construction industry, placing it in the top 51.6%.
Is Hwang Chang General Contractor Co's ROC (Joel Greenblatt) % too high?
Hwang Chang General Contractor Co's current ROC (Joel Greenblatt) % of 10.13% is 31% below median its 10-year median of 14.67. The Construction industry median ROC (Joel Greenblatt) % is 19.86. Hwang Chang General Contractor Co's value of 10.13% is 49% below this industry median. Based on the distribution chart, Hwang Chang General Contractor Co ranks #919 out of 1780 companies in the Construction industry, which is below the industry midpoint. Overall, Hwang Chang General Contractor Co has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hwang Chang General Contractor Co's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Hwang Chang General Contractor Co ranks #919 out of 1780 companies for ROC (Joel Greenblatt) %. This places Hwang Chang General Contractor Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.86. Hwang Chang General Contractor Co's value of 10.13% is 49% below this benchmark. While the company's 10-year median is 14.67 vs. the industry median of 19.86, Hwang Chang General Contractor Co 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.86, based on 1,780 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. Hwang Chang General Contractor Co's current ROC (Joel Greenblatt) % of 10.13% is 49% 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 Hwang Chang General Contractor Co and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hwang Chang General Contractor Co's current ROC (Joel Greenblatt) % is 10.13%, which is 31% below median its own 10-year median of 14.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hwang Chang General Contractor Co stock overvalued right now?
Based on GuruFocus' analysis, Hwang Chang General Contractor Co (TPE:2543) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$47.30, compared to a current price of NT$35.55 — trading 24.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 10.13%, which is 31% below median its 10-year median of 14.67 and 49% below the Construction industry median of 19.86. Hwang Chang General Contractor Co's overall GF Score™ is 84/100 with 6 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 Hwang Chang General Contractor Co (TPE:2543), the current ROC (Joel Greenblatt) % is 10.13% 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 Hwang Chang General Contractor Co (TPE:2543) Overvalued in 2026?
Based on GuruFocus' analysis, Hwang Chang General Contractor Co stock appears to be undervalued.
The current stock price of NT$35.55 is trading 24.8% below its estimated GF Value™ of NT$47.30.
GuruFocus considers Hwang Chang General Contractor Co to be Modestly Undervalued.
Key valuation signals for TPE:2543:
ROC (Joel Greenblatt) %: 10.13% (31% below median its 10-year median of 14.67)
GF Value™: NT$47.30 vs. price of NT$35.55 (24.8% below fair value)
Industry Position: 49% below the Construction median (#919 of 1780)
No single metric tells the full story. See the TPE:2543 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hwang Chang General Contractor Co Ltd is mainly engaged in the contracting business of civil engineering projects. It undertakes projects like the construction of bridges, metro stations, parking lots, residential complexes, highways, etc. The company's reportable segments are Construction and Concrete. A majority of its revenue is generated from the Construction segment, which is mainly engaged in the contracting business of civil engineering projects. The Concrete segment is mainly engaged in the manufacturing and selling business of ready-mix concrete.
84GF Score
Get the complete analysis for TPE:2543
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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