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InnoCare OptoelectronicsTPE:6861 -3.87%65 ROC (Joel Greenblatt) % is 64.49% as of Mar. 2026, which is 95% above its 10-year median of 33.08. GuruFocus rates TPE:6861 with a GF Score™ of 65/100 and a GF Value™ of NT$94.30 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 837 Medical Devices & Instruments companies, InnoCare Optoelectronics ranks better than 76.34% 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. InnoCare Optoelectronics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 64.49%.
The historical rank and industry rank for InnoCare Optoelectronics's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:6861'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 17.56 Med: 33.08 Max: 103.94
Current: 34.04
During the past 8 years, InnoCare Optoelectronics's highest ROC (Joel Greenblatt) % was 103.94%. The lowest was 17.56%. And the median was 33.08%.
TPE:6861's ROC (Joel Greenblatt) % is ranked better than 76.34% of 837
companies
in the Medical Devices & Instruments industry
Industry Median: 4.35
vs TPE:6861: 34.04
InnoCare Optoelectronics's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -29.30% 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.
InnoCare Optoelectronics ROC (Joel Greenblatt) % Related Terms
InnoCare Optoelectronics ROC (Joel Greenblatt) % Historical Data
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The historical data trend for InnoCare Optoelectronics'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:6861 vs ABT, SYK, MDT: ROC (Joel Greenblatt) % Comparison
For the Medical Devices subindustry, InnoCare Optoelectronics'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.
InnoCare Optoelectronics ROC (Joel Greenblatt) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, InnoCare Optoelectronics's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where InnoCare Optoelectronics'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 (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 64.49% mean?
InnoCare Optoelectronics (TPE:6861) has a ROC (Joel Greenblatt) % of 64.49% 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 InnoCare Optoelectronics and its competitors. This is 95% above median its historical median of 33.08. Over the past decade, InnoCare Optoelectronics' ROC (Joel Greenblatt) % has ranged from 17.56 to 103.94. According to the industry distribution chart, InnoCare Optoelectronics ranks #198 out of 837 companies in the Medical Devices & Instruments industry, placing it in the top 23.7%.
Is InnoCare Optoelectronics' ROC (Joel Greenblatt) % too high?
InnoCare Optoelectronics' current ROC (Joel Greenblatt) % of 64.49% is 95% above median its 10-year median of 33.08. Over the past 10 years, this metric has ranged from a low of 17.56 to a high of 103.94. The Medical Devices & Instruments industry median ROC (Joel Greenblatt) % is 4.35. InnoCare Optoelectronics' value of 64.49% is 1382.5% above this industry median. Based on the distribution chart, InnoCare Optoelectronics ranks #198 out of 837 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, InnoCare Optoelectronics has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does InnoCare Optoelectronics' ROC (Joel Greenblatt) % compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, InnoCare Optoelectronics ranks #198 out of 837 companies for ROC (Joel Greenblatt) %. This places InnoCare Optoelectronics in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 4.35. InnoCare Optoelectronics' value of 64.49% is 1382.5% above this benchmark. Historically, InnoCare Optoelectronics' own ROC (Joel Greenblatt) % has ranged from 17.56 to 103.94 over the past decade. While the company's 10-year median is 33.08 vs. the industry median of 4.35, InnoCare Optoelectronics 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 Medical Devices & Instruments company?
The median ROC (Joel Greenblatt) % among Medical Devices & Instruments companies is 4.35, based on 837 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. InnoCare Optoelectronics's current ROC (Joel Greenblatt) % of 64.49% is 1382.5% 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 InnoCare Optoelectronics and its competitors. For the Medical Devices & Instruments industry, the median ROC (Joel Greenblatt) % is 4.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. InnoCare Optoelectronics's current ROC (Joel Greenblatt) % is 64.49%, which is 95% above median its own 10-year median of 33.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is InnoCare Optoelectronics stock overvalued right now?
Based on GuruFocus' analysis, InnoCare Optoelectronics (TPE:6861) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$94.30, compared to a current price of NT$174.00 — trading 84.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 64.49%, which is 95% above median its 10-year median of 33.08 and 1382.5% above the Medical Devices & Instruments industry median of 4.35. InnoCare Optoelectronics' overall GF Score™ is 65/100 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 InnoCare Optoelectronics (TPE:6861), the current ROC (Joel Greenblatt) % is 64.49% 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 InnoCare Optoelectronics (TPE:6861) Overvalued in 2026?
Based on GuruFocus' analysis, InnoCare Optoelectronics stock appears to be overvalued.
The current stock price of NT$174.00 is trading 84.5% above its estimated GF Value™ of NT$94.30.
GuruFocus considers InnoCare Optoelectronics to be Significantly Overvalued.
Key valuation signals for TPE:6861:
ROC (Joel Greenblatt) %: 64.49% (95% above median its 10-year median of 33.08)
GF Value™: NT$94.30 vs. price of NT$174.00 (84.5% above fair value)
Industry Position: 1382.5% above the Medical Devices & Instruments median (#198 of 837)
No single metric tells the full story. See the TPE:6861 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
InnoCare Optoelectronics Corp is mainly engaged in the manufacturing and sale of optical instruments and medical equipment. Its products include X-Ray flat panel detector devices, X-Ray flat panel detector modules, and others.
65GF Score
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