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AopenTPE:3046 -0.51%84 ROC (Joel Greenblatt) % is 5,232.45% as of Jun. 2026, which is 5663% above its 10-year median of 90.80. GuruFocus rates TPE:3046 with a GF Score™ of 84/100 and a GF Value™ of NT$64.90 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,490 Hardware companies, Aopen ranks better than 99.92% 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. Aopen's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 5,232.45%.
The historical rank and industry rank for Aopen's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:3046'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -267.15 Med: 90.8 Max: 3767.39
Current: 3767.39
During the past 13 years, Aopen's highest ROC (Joel Greenblatt) % was 3767.39%. The lowest was -267.15%. And the median was 90.80%.
TPE:3046's ROC (Joel Greenblatt) % is ranked better than 99.92% of 2490
companies
in the Hardware industry
Industry Median: 11.655
vs TPE:3046: 3767.39
Aopen's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
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.
The historical data trend for Aopen'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.
TPE:3046 vs DELL, ANET, SNDK: ROC (Joel Greenblatt) % Comparison
For the Computer Hardware subindustry, Aopen'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.
Aopen ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Aopen's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Aopen's ROC (Joel Greenblatt) % falls into.
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 (Jun. 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 5,232.45% mean?
Aopen (TPE:3046) has a ROC (Joel Greenblatt) % of 5,232.45% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Aopen and its competitors. This is 5663% above median its historical median of 90.80. According to the industry distribution chart, Aopen ranks #2 out of 2490 companies in the Hardware industry, placing it in the top 0.099999999999994%.
Is Aopen's ROC (Joel Greenblatt) % too high?
Aopen's current ROC (Joel Greenblatt) % of 5,232.45% is 5663% above median its 10-year median of 90.80. The Hardware industry median ROC (Joel Greenblatt) % is 11.66. Aopen's value of 5,232.45% is 44794.5% above this industry median. Based on the distribution chart, Aopen ranks #2 out of 2490 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Aopen has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Aopen's ROC (Joel Greenblatt) % compare to DELL and ANET?
According to the Hardware industry distribution chart, Aopen ranks #2 out of 2490 companies for ROC (Joel Greenblatt) %. This places Aopen in the top 0% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.66. Aopen's value of 5,232.45% is 44794.5% above this benchmark. While the company's 10-year median is 90.80 vs. the industry median of 11.66, Aopen 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 Hardware company?
The median ROC (Joel Greenblatt) % among Hardware companies is 11.66, based on 2,490 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. Aopen's current ROC (Joel Greenblatt) % of 5,232.45% is 44794.5% 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 Aopen and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 11.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aopen's current ROC (Joel Greenblatt) % is 5,232.45%, which is 5663% above median its own 10-year median of 90.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aopen stock overvalued right now?
Based on GuruFocus' analysis, Aopen (TPE:3046) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$64.90, compared to a current price of NT$58.10 — trading 10.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 5,232.45%, which is 5663% above median its 10-year median of 90.80 and 44794.5% above the Hardware industry median of 11.66. Aopen's overall GF Score™ is 84/100 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 Aopen (TPE:3046), the current ROC (Joel Greenblatt) % is 5,232.45% as of Jun. 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 Aopen (TPE:3046) Overvalued in 2026?
Based on GuruFocus' analysis, Aopen stock appears to be undervalued.
The current stock price of NT$58.10 is trading 10.5% below its estimated GF Value™ of NT$64.90.
GuruFocus considers Aopen to be Modestly Undervalued.
Key valuation signals for TPE:3046:
ROC (Joel Greenblatt) %: 5,232.45% (5663% above median its 10-year median of 90.80)
GF Value™: NT$64.90 vs. price of NT$58.10 (10.5% below fair value)
Industry Position: 44794.5% above the Hardware median (#2 of 2490)
No single metric tells the full story. See the TPE:3046 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aopen Inc is engaged in the marketing, manufacturing, and trading of computer products, software, computer components, peripheral equipment, and apparatus, as well as IT product repair services for after-sales support provided to Aopen products. Its products include embedded PC, touch panel PC, remote management, commercial and consumer range display, and monitors. The company has three reportable segments: the Americas segment, the Europe segment and the Asia Pacific and emerging market segment, which engage in the research, design, and marketing of computer products, lifestyle appliances, and others. The majority of revenue is derived from the Asia Pacific and emerging market segment.
84GF Score
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