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Pou ChenTPE:9904 +0.21%85 ROC (Joel Greenblatt) % is 20.68% as of Dec. 2025, which is 13% above its 10-year median of 18.28. GuruFocus rates TPE:9904 with a GF Score™ of 85/100 and a GF Value™ of NT$30.89 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,061 Manufacturing - Apparel & Accessories companies, Pou Chen ranks better than 79.17% 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. Pou Chen's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 20.68%.
The historical rank and industry rank for Pou Chen's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:9904'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.9 Med: 18.28 Max: 28
Current: 21.1
During the past 13 years, Pou Chen's highest ROC (Joel Greenblatt) % was 28.00%. The lowest was 5.90%. And the median was 18.28%.
TPE:9904's ROC (Joel Greenblatt) % is ranked better than 79.17% of 1061
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 8.45
vs TPE:9904: 21.10
Pou Chen's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 27.10% per year.
Pou Chen (TPE:9904) 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.
The historical data trend for Pou Chen'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:9904 vs NKE, DECK, ONON: ROC (Joel Greenblatt) % Comparison
For the Footwear & Accessories subindustry, Pou Chen'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.
Pou Chen ROC (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Pou Chen's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Pou Chen'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 (Dec. 2025) 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 20.68% mean?
Pou Chen (TPE:9904) has a ROC (Joel Greenblatt) % of 20.68% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Pou Chen and its competitors. This is 13% above median its historical median of 18.28. Over the past decade, Pou Chen's ROC (Joel Greenblatt) % has ranged from 5.90 to 28.00. According to the industry distribution chart, Pou Chen ranks #221 out of 1061 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 20.8%.
Is Pou Chen's ROC (Joel Greenblatt) % too high?
Pou Chen's current ROC (Joel Greenblatt) % of 20.68% is 13% above median its 10-year median of 18.28. Over the past 10 years, this metric has ranged from a low of 5.90 to a high of 28.00. The Manufacturing - Apparel & Accessories industry median ROC (Joel Greenblatt) % is 8.45. Pou Chen's value of 20.68% is 144.7% above this industry median. Based on the distribution chart, Pou Chen ranks #221 out of 1061 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Pou Chen has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pou Chen's ROC (Joel Greenblatt) % compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Pou Chen ranks #221 out of 1061 companies for ROC (Joel Greenblatt) %. This places Pou Chen in the top 21% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.45. Pou Chen's value of 20.68% is 144.7% above this benchmark. Historically, Pou Chen's own ROC (Joel Greenblatt) % has ranged from 5.90 to 28.00 over the past decade. While the company's 10-year median is 18.28 vs. the industry median of 8.45, Pou Chen 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 Manufacturing - Apparel & Accessories company?
The median ROC (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 8.45, based on 1,061 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. Pou Chen's current ROC (Joel Greenblatt) % of 20.68% is 144.7% 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 Pou Chen and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROC (Joel Greenblatt) % is 8.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pou Chen's current ROC (Joel Greenblatt) % is 20.68%, which is 13% above median its own 10-year median of 18.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pou Chen stock overvalued right now?
Based on GuruFocus' analysis, Pou Chen (TPE:9904) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$30.89, compared to a current price of NT$24.40 — trading 21% below its estimated fair value. The current ROC (Joel Greenblatt) % is 20.68%, which is 13% above median its 10-year median of 18.28 and 144.7% above the Manufacturing - Apparel & Accessories industry median of 8.45. Pou Chen's overall GF Score™ is 85/100 with 4 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 Pou Chen (TPE:9904), the current ROC (Joel Greenblatt) % is 20.68% as of Dec. 2025. 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 Pou Chen (TPE:9904) Overvalued in 2026?
Based on GuruFocus' analysis, Pou Chen stock appears to be undervalued.
The current stock price of NT$24.40 is trading 21% below its estimated GF Value™ of NT$30.89.
GuruFocus considers Pou Chen to be Modestly Undervalued.
Key valuation signals for TPE:9904:
ROC (Joel Greenblatt) %: 20.68% (13% above median its 10-year median of 18.28)
GF Value™: NT$30.89 vs. price of NT$24.40 (21% below fair value)
Industry Position: 144.7% above the Manufacturing - Apparel & Accessories median (#221 of 1061)
No single metric tells the full story. See the TPE:9904 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pou Chen Corp the manufacture and sale of various kinds of shoes and the import and export of related products and materials. The company invests in and other footwear-related companies.
85GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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