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.
Far Eastern Department StoresTPE:2903 +1.14%72 ROC (Joel Greenblatt) % is 5.30% as of Mar. 2026, which is 13% below its 10-year median of 6.10. GuruFocus rates TPE:2903 with a GF Score™ of 72/100 and a GF Value™ of NT$22.23 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,130 Retail - Cyclical companies, Far Eastern Department Stores ranks worse than 64.78% 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. Far Eastern Department Stores's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.30%.
The historical rank and industry rank for Far Eastern Department Stores's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:2903'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.31 Med: 6.1 Max: 8.08
Current: 5.51
During the past 13 years, Far Eastern Department Stores's highest ROC (Joel Greenblatt) % was 8.08%. The lowest was 4.31%. And the median was 6.10%.
TPE:2903's ROC (Joel Greenblatt) % is ranked worse than 64.78% of 1130
companies
in the Retail - Cyclical industry
Industry Median: 11.64
vs TPE:2903: 5.51
Far Eastern Department Stores (TPE:2903) 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.
Far Eastern Department Stores ROC (Joel Greenblatt) % Chart
TPE:2903 vs DDS, M: ROC (Joel Greenblatt) % Comparison
For the Department Stores subindustry, Far Eastern Department Stores'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.
Far Eastern Department Stores ROC (Joel Greenblatt) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Far Eastern Department Stores's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Far Eastern Department Stores's ROC (Joel Greenblatt) % falls into.
Far Eastern Department Stores 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 5.30% mean?
Far Eastern Department Stores (TPE:2903) has a ROC (Joel Greenblatt) % of 5.30% 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 Far Eastern Department Stores and its competitors. This is 13% below median its historical median of 6.10. Over the past decade, Far Eastern Department Stores' ROC (Joel Greenblatt) % has ranged from 4.31 to 8.08. According to the industry distribution chart, Far Eastern Department Stores ranks #732 out of 1130 companies in the Retail - Cyclical industry, placing it in the top 64.8%.
Is Far Eastern Department Stores' ROC (Joel Greenblatt) % too high?
Far Eastern Department Stores' current ROC (Joel Greenblatt) % of 5.30% is 13% below median its 10-year median of 6.10. Over the past 10 years, this metric has ranged from a low of 4.31 to a high of 8.08. The Retail - Cyclical industry median ROC (Joel Greenblatt) % is 11.64. Far Eastern Department Stores' value of 5.30% is 54.5% below this industry median. Based on the distribution chart, Far Eastern Department Stores ranks #732 out of 1130 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Far Eastern Department Stores has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Far Eastern Department Stores' ROC (Joel Greenblatt) % compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, Far Eastern Department Stores ranks #732 out of 1130 companies for ROC (Joel Greenblatt) %. This places Far Eastern Department Stores in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.64. Far Eastern Department Stores' value of 5.30% is 54.5% below this benchmark. Historically, Far Eastern Department Stores' own ROC (Joel Greenblatt) % has ranged from 4.31 to 8.08 over the past decade. While the company's 10-year median is 6.10 vs. the industry median of 11.64, Far Eastern Department Stores 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 Retail - Cyclical company?
The median ROC (Joel Greenblatt) % among Retail - Cyclical companies is 11.64, based on 1,130 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. Far Eastern Department Stores's current ROC (Joel Greenblatt) % of 5.30% is 54.5% 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 Far Eastern Department Stores and its competitors. For the Retail - Cyclical industry, the median ROC (Joel Greenblatt) % is 11.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Far Eastern Department Stores's current ROC (Joel Greenblatt) % is 5.30%, which is 13% below median its own 10-year median of 6.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Far Eastern Department Stores stock overvalued right now?
Based on GuruFocus' analysis, Far Eastern Department Stores (TPE:2903) is currently considered Fairly Valued. The stock's GF Value™ is NT$22.23, compared to a current price of NT$22.25 — trading 0.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 5.30%, which is 13% below median its 10-year median of 6.10 and 54.5% below the Retail - Cyclical industry median of 11.64. Far Eastern Department Stores' overall GF Score™ is 72/100 with 7 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 Far Eastern Department Stores (TPE:2903), the current ROC (Joel Greenblatt) % is 5.30% 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 Far Eastern Department Stores (TPE:2903) Overvalued in 2026?
Based on GuruFocus' analysis, Far Eastern Department Stores stock appears to be overvalued.
The current stock price of NT$22.25 is trading 0.1% above its estimated GF Value™ of NT$22.23.
GuruFocus considers Far Eastern Department Stores to be Fairly Valued.
Key valuation signals for TPE:2903:
ROC (Joel Greenblatt) %: 5.30% (13% below median its 10-year median of 6.10)
GF Value™: NT$22.23 vs. price of NT$22.25 (0.1% above fair value)
Industry Position: 54.5% below the Retail - Cyclical median (#732 of 1130)
No single metric tells the full story. See the TPE:2903 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Far Eastern Department Stores Business Description
Far Eastern Department Stores Ltd is a Taiwan-based company principally engaged in the operation of department stores and supermarkets. It provides a broad range of merchandise, including foods, apparel, gold and jewelry, household appliances, groceries, home furnishing products, consumer electronics, stationery goods, artworks, entertainment appliances, and sports and leisure goods. Geographically, the Group generates maximum revenue from ROC, and the rest from China.
72GF Score
Get the complete analysis for TPE:2903
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:2903 has been successfully added to your 
