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Choice DevelopmentTPE:9929 +0.90%72 ROC (Joel Greenblatt) % is 8.18% as of Dec. 2025, which is 624% above its 10-year median of 1.13. GuruFocus rates TPE:9929 with a GF Score™ of 72/100 and a GF Value™ of NT$14.52 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,081 Business Services companies, Choice Development ranks worse than 76.78% 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. Choice Development's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 8.18%.
The historical rank and industry rank for Choice Development's ROC (Joel Greenblatt) % or its related term are showing as below:
TPE:9929'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -19.09 Med: 1.13 Max: 60.98
Current: 1.58
During the past 13 years, Choice Development's highest ROC (Joel Greenblatt) % was 60.98%. The lowest was -19.09%. And the median was 1.13%.
TPE:9929's ROC (Joel Greenblatt) % is ranked worse than 76.78% of 1081
companies
in the Business Services industry
Industry Median: 21.22
vs TPE:9929: 1.58
Choice Development's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Choice Development (TPE:9929) 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.
Choice Development ROC (Joel Greenblatt) % Related Terms
Choice Development ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Choice 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:9929 vs CTAS, CPRT, ULS: ROC (Joel Greenblatt) % Comparison
For the Specialty Business Services subindustry, Choice 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.
Choice Development ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Choice Development's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Choice Development's ROC (Joel Greenblatt) % falls into.
Choice 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 (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 8.18% mean?
Choice Development (TPE:9929) has a ROC (Joel Greenblatt) % of 8.18% 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 Choice Development and its competitors. This is 624% above median its historical median of 1.13. According to the industry distribution chart, Choice Development ranks #830 out of 1081 companies in the Business Services industry, placing it in the top 76.8%.
Is Choice Development's ROC (Joel Greenblatt) % too high?
Choice Development's current ROC (Joel Greenblatt) % of 8.18% is 624% above median its 10-year median of 1.13. The Business Services industry median ROC (Joel Greenblatt) % is 21.22. Choice Development's value of 8.18% is 61.5% below this industry median. Based on the distribution chart, Choice Development ranks #830 out of 1081 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Choice Development has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Choice Development's ROC (Joel Greenblatt) % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Choice Development ranks #830 out of 1081 companies for ROC (Joel Greenblatt) %. This places Choice Development in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 21.22. Choice Development's value of 8.18% is 61.5% below this benchmark. While the company's 10-year median is 1.13 vs. the industry median of 21.22, Choice Development 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 21.22, based on 1,081 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. Choice Development's current ROC (Joel Greenblatt) % of 8.18% is 61.5% 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 Choice Development and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 21.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Choice Development's current ROC (Joel Greenblatt) % is 8.18%, which is 624% above median its own 10-year median of 1.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Choice Development stock overvalued right now?
Based on GuruFocus' analysis, Choice Development (TPE:9929) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$14.52, compared to a current price of NT$11.25 — trading 22.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 8.18%, which is 624% above median its 10-year median of 1.13 and 61.5% below the Business Services industry median of 21.22. Choice Development's overall GF Score™ is 72/100 with 6 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 Choice Development (TPE:9929), the current ROC (Joel Greenblatt) % is 8.18% 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 Choice Development (TPE:9929) Overvalued in 2026?
Based on GuruFocus' analysis, Choice Development stock appears to be undervalued.
The current stock price of NT$11.25 is trading 22.5% below its estimated GF Value™ of NT$14.52.
GuruFocus considers Choice Development to be Modestly Undervalued.
Key valuation signals for TPE:9929:
ROC (Joel Greenblatt) %: 8.18% (624% above median its 10-year median of 1.13)
GF Value™: NT$14.52 vs. price of NT$11.25 (22.5% below fair value)
Industry Position: 61.5% below the Business Services median (#830 of 1081)
No single metric tells the full story. See the TPE:9929 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Choice Development Inc is engaged in printing, packaging material production, photography, plate making, binding, planning and design, and medical equipment retailing. The company's operating segments are the Printing, Advertising, Innovation, and Development. The majority of its revenue is generated from the Printing department.
72GF 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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