Wanhwa Enterprise Co (TPE:2701) ROC (Joel Greenblatt) %: 72.24% (As of Mar. 2026) — 56% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

TPE:2701 Wanhwa Enterprise Co TPE:2701
83 GF Score
Price NT$10.55
GF Value NT$11.16
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Wanhwa Enterprise Co ROC (Joel Greenblatt) %?

Wanhwa Enterprise Co TPE:2701 -0.47% 83 ROC (Joel Greenblatt) % is 72.24% as of Mar. 2026, which is 56% above its 10-year median of 46.43. GuruFocus rates TPE:2701 with a GF Score™ of 83/100 and a GF Value™ of NT$11.16 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,749 Real Estate companies, Wanhwa Enterprise Co ranks better than 76.96% 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. Wanhwa Enterprise Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 72.24%.

The historical rank and industry rank for Wanhwa Enterprise Co's ROC (Joel Greenblatt) % or its related term are showing as below:

TPE:2701' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 30.48   Med: 46.43   Max: 89.19
Current: 89.19

During the past 13 years, Wanhwa Enterprise Co's highest ROC (Joel Greenblatt) % was 89.19%. The lowest was 30.48%. And the median was 46.43%.

TPE:2701's ROC (Joel Greenblatt) % is ranked better than
76.96% of 1749 companies
in the Real Estate industry
Industry Median: 13.16 vs TPE:2701: 89.19

Wanhwa Enterprise Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 22.20% per year.


Wanhwa Enterprise Co  (TPE:2701) 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.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Wanhwa Enterprise Co ROC (Joel Greenblatt) % Related Terms


Wanhwa Enterprise Co ROC (Joel Greenblatt) % Historical Data

* Premium members only.

The historical data trend for Wanhwa Enterprise 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.

Wanhwa Enterprise Co ROC (Joel Greenblatt) % Chart

Wanhwa Enterprise Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 33.92 30.48 48.14 80.05 86.93

Wanhwa Enterprise Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 62.04 103.94 135.28 45.24 72.24

TPE:2701 vs CBRE, BEKE, JLL: ROC (Joel Greenblatt) % Comparison

For the Real Estate Services subindustry, Wanhwa Enterprise 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.


Wanhwa Enterprise Co ROC (Joel Greenblatt) % vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Wanhwa Enterprise Co's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Wanhwa Enterprise Co's ROC (Joel Greenblatt) % falls into.


TPE:2701
83GF Score
Wanhwa Enterprise Co TPE:2701
ROC (Joel Greenblatt) % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Wanhwa Enterprise 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:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

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.

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 1.4589999999998) - (146.31 + 0 + 0.25)
=-145.101

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.018 + 0 + 1.644) - (157.324 + 0 + 0.423)
=-156.085

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Wanhwa Enterprise Co for the quarter that ended in Mar. 2026 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=250.604/( ( (347.023 + max(-145.101, 0)) + (346.758 + max(-156.085, 0)) )/ 2 )
=250.604/( ( 347.023 + 346.758 )/ 2 )
=250.604/346.8905
=72.24 %

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 72.24% mean?
Wanhwa Enterprise Co (TPE:2701) has a ROC (Joel Greenblatt) % of 72.24% 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 Wanhwa Enterprise Co and its competitors. This is 56% above median its historical median of 46.43. Over the past decade, Wanhwa Enterprise Co's ROC (Joel Greenblatt) % has ranged from 30.48 to 89.19. According to the industry distribution chart, Wanhwa Enterprise Co ranks #403 out of 1749 companies in the Real Estate industry, placing it in the top 23%.
Is Wanhwa Enterprise Co's ROC (Joel Greenblatt) % too high?
Wanhwa Enterprise Co's current ROC (Joel Greenblatt) % of 72.24% is 56% above median its 10-year median of 46.43. Over the past 10 years, this metric has ranged from a low of 30.48 to a high of 89.19. The Real Estate industry median ROC (Joel Greenblatt) % is 13.16. Wanhwa Enterprise Co's value of 72.24% is 448.9% above this industry median. Based on the distribution chart, Wanhwa Enterprise Co ranks #403 out of 1749 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Wanhwa Enterprise Co has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Wanhwa Enterprise Co's ROC (Joel Greenblatt) % compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Wanhwa Enterprise Co ranks #403 out of 1749 companies for ROC (Joel Greenblatt) %. This places Wanhwa Enterprise Co in the top 23% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 13.16. Wanhwa Enterprise Co's value of 72.24% is 448.9% above this benchmark. Historically, Wanhwa Enterprise Co's own ROC (Joel Greenblatt) % has ranged from 30.48 to 89.19 over the past decade. While the company's 10-year median is 46.43 vs. the industry median of 13.16, Wanhwa Enterprise 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 Real Estate company?
The median ROC (Joel Greenblatt) % among Real Estate companies is 13.16, based on 1,749 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. Wanhwa Enterprise Co's current ROC (Joel Greenblatt) % of 72.24% is 448.9% 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 Wanhwa Enterprise Co and its competitors. For the Real Estate industry, the median ROC (Joel Greenblatt) % is 13.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Wanhwa Enterprise Co's current ROC (Joel Greenblatt) % is 72.24%, which is 56% above median its own 10-year median of 46.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wanhwa Enterprise Co stock overvalued right now?
Based on GuruFocus' analysis, Wanhwa Enterprise Co (TPE:2701) is currently considered Fairly Valued. The stock's GF Value™ is NT$11.16, compared to a current price of NT$10.55 — trading 5.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 72.24%, which is 56% above median its 10-year median of 46.43 and 448.9% above the Real Estate industry median of 13.16. Wanhwa Enterprise Co's overall GF Score™ is 83/100 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 Wanhwa Enterprise Co (TPE:2701), the current ROC (Joel Greenblatt) % is 72.24% 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 Wanhwa Enterprise Co (TPE:2701) Overvalued in 2026?

Based on GuruFocus' analysis, Wanhwa Enterprise Co stock appears to be undervalued. The current stock price of NT$10.55 is trading 5.5% below its estimated GF Value™ of NT$11.16. GuruFocus considers Wanhwa Enterprise Co to be Fairly Valued.

Key valuation signals for TPE:2701:

  • ROC (Joel Greenblatt) %: 72.24% (56% above median its 10-year median of 46.43)
  • GF Value™: NT$11.16 vs. price of NT$10.55 (5.5% below fair value)
  • GF Score™: 83/100 with 3 warning signs
  • Industry Position: 448.9% above the Real Estate median (#403 of 1749)

No single metric tells the full story. See the TPE:2701 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Wanhwa Enterprise Co Business Description

Address 52, Emei Street, Wanhua District, Taipei, TWN
Wanhwa Enterprise Co is mainly engaged in the rental of commercial buildings and the operation of cinemas and amusement arcades. The company's main business includes rental, movies, and amusement.
83GF Score

Get the complete analysis for TPE:2701

ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$10.55
Price
NT$11.16
GF Value