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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. In Win Development's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.63%.
The historical rank and industry rank for In Win Development's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:6117'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -13.33 Med: -0.17 Max: 23.41
Current: 18.47
During the past 13 years, In Win Development's highest ROC (Joel Greenblatt) % was 23.41%. The lowest was -13.33%. And the median was -0.17%.
TPE:6117's ROC (Joel Greenblatt) % is ranked better than 64.27% of 2491
companies
in the Hardware industry
Industry Median: 10.49
vs TPE:6117: 18.47
In Win Development's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
In Win Development (TPE:6117) 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.
In Win Development ROC (Joel Greenblatt) % Related Terms
In Win Development ROC (Joel Greenblatt) % Historical Data
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The historical data trend for In Win Development'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:6117 vs DELL, ANET, SNDK: ROC (Joel Greenblatt) % Comparison
For the Computer Hardware subindustry, In Win Development'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.
In Win Development ROC (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, In Win Development's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where In Win Development's ROC (Joel Greenblatt) % falls into.
In Win Development 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 18.63% mean?
In Win Development (TPE:6117) has a ROC (Joel Greenblatt) % of 18.63% 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 In Win Development and its competitors. According to the industry distribution chart, In Win Development ranks #890 out of 2491 companies in the Hardware industry, placing it in the top 35.7%.
Is In Win Development's ROC (Joel Greenblatt) % too high?
In Win Development's current ROC (Joel Greenblatt) % is 18.63%. The Hardware industry median ROC (Joel Greenblatt) % is 10.49. In Win Development's value of 18.63% is 77.6% above this industry median. Based on the distribution chart, In Win Development ranks #890 out of 2491 companies in the Hardware industry, which is above the industry midpoint. Overall, In Win Development has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does In Win Development's ROC (Joel Greenblatt) % compare to DELL and ANET?
According to the Hardware industry distribution chart, In Win Development ranks #890 out of 2491 companies for ROC (Joel Greenblatt) %. This puts In Win Development in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.49. In Win Development's value of 18.63% is 77.6% above this benchmark. 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 10.49, based on 2,491 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. In Win Development's current ROC (Joel Greenblatt) % of 18.63% is 77.6% 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 In Win Development and its competitors. For the Hardware industry, the median ROC (Joel Greenblatt) % is 10.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. In Win Development's current ROC (Joel Greenblatt) % is 18.63%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is In Win Development stock overvalued right now?
Based on GuruFocus' analysis, In Win Development (TPE:6117) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$99.89, compared to a current price of NT$63.20 — trading 36.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 18.63% and 77.6% above the Hardware industry median of 10.49. In Win Development's overall GF Score™ is 65/100 with 5 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 In Win Development (TPE:6117), the current ROC (Joel Greenblatt) % is 18.63% 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 In Win Development (TPE:6117) Overvalued in 2026?
Based on GuruFocus' analysis, In Win Development stock appears to be undervalued.
The current stock price of NT$63.20 is trading 36.7% below its estimated GF Value™ of NT$99.89.
GuruFocus considers In Win Development to be Significantly Undervalued.
Key valuation signals for TPE:6117:
ROC (Joel Greenblatt) %: 18.63%
GF Value™: NT$99.89 vs. price of NT$63.20 (36.7% below fair value)
Industry Position: 77.6% above the Hardware median (#890 of 2491)
No single metric tells the full story. See the TPE:6117 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
In Win Development Inc is engaged in the processing, manufacturing, and trading of computer and peripheral equipment, plastic products, etc., and the manufacturing, baking, and trading of mechanical hardware parts. Its products include Gaming Chassis, Computer Chassis, Gaming Power Supply, PC Power Supply, IPC/Server, iBuildiShare, and Cooling. Geographically, it operates in Europe, the USA, Japan, Taiwan, and Other countries, with the majority of the revenue deriving from Taiwan.
65GF Score
Get the complete analysis for TPE:6117
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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