Tohokushinsha Film (TSE:2329) ROC (Joel Greenblatt) %: 15.60% (As of Mar. 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2329 Tohokushinsha Film Corp TSE:2329
69 GF Score
Price 円500.00
GF Value 円525.34
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Tohokushinsha Film ROC (Joel Greenblatt) %?

Tohokushinsha Film TSE:2329 +0.40% 69 ROC (Joel Greenblatt) % is 15.60% as of Mar. 2026, which is 4% below its 10-year median of 16.20. GuruFocus rates TSE:2329 with a GF Score™ of 69/100 and a GF Value™ of 円525.34 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,015 Media - Diversified companies, Tohokushinsha Film ranks better than 79.7% 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. Tohokushinsha Film's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.60%.

The historical rank and industry rank for Tohokushinsha Film's ROC (Joel Greenblatt) % or its related term are showing as below:

TSE:2329' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.42   Med: 16.2   Max: 76.21
Current: 60.32

During the past 13 years, Tohokushinsha Film's highest ROC (Joel Greenblatt) % was 76.21%. The lowest was 0.42%. And the median was 16.20%.

TSE:2329's ROC (Joel Greenblatt) % is ranked better than
79.7% of 1015 companies
in the Media - Diversified industry
Industry Median: 9.85 vs TSE:2329: 60.32

Tohokushinsha Film's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 59.20% per year.


Tohokushinsha Film  (TSE:2329) 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.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Tohokushinsha Film ROC (Joel Greenblatt) % Related Terms


Tohokushinsha Film ROC (Joel Greenblatt) % Historical Data

* Premium members only.

The historical data trend for Tohokushinsha Film'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.

Tohokushinsha Film ROC (Joel Greenblatt) % Chart

Tohokushinsha Film Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 17.58 18.28 16.65 72.94 76.21

Tohokushinsha Film Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 83.97 28.67 96.85 15.60

TSE:2329 vs NFLX, DIS, WBD: ROC (Joel Greenblatt) % Comparison

For the Entertainment subindustry, Tohokushinsha Film'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.


Tohokushinsha Film ROC (Joel Greenblatt) % vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Tohokushinsha Film's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Tohokushinsha Film's ROC (Joel Greenblatt) % falls into.


TSE:2329
69GF Score
Tohokushinsha Film Corp TSE:2329
ROC (Joel Greenblatt) % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tohokushinsha Film 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:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

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.

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6438 + 5394 + 2583) - (5652 + 0 + 3360)
=5403

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9312 + 3741 + 2704) - (7111 + 0 + 4866)
=3780

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Tohokushinsha Film for the quarter that ended in Mar. 2026 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2300/( ( (10202 + max(5403, 0)) + (10109 + max(3780, 0)) )/ 2 )
=2300/( ( 15605 + 13889 )/ 2 )
=2300/14747
=15.60 %

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 15.60% mean?
Tohokushinsha Film (TSE:2329) has a ROC (Joel Greenblatt) % of 15.60% 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 Tohokushinsha Film and its competitors. This is near median its historical median of 16.20. Over the past decade, Tohokushinsha Film's ROC (Joel Greenblatt) % has ranged from 0.42 to 76.21. According to the industry distribution chart, Tohokushinsha Film ranks #206 out of 1015 companies in the Media - Diversified industry, placing it in the top 20.3%.
Is Tohokushinsha Film's ROC (Joel Greenblatt) % too high?
Tohokushinsha Film's current ROC (Joel Greenblatt) % of 15.60% is near median its 10-year median of 16.20. Over the past 10 years, this metric has ranged from a low of 0.42 to a high of 76.21. The Media - Diversified industry median ROC (Joel Greenblatt) % is 9.85. Tohokushinsha Film's value of 15.60% is 58.4% above this industry median. Based on the distribution chart, Tohokushinsha Film ranks #206 out of 1015 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Tohokushinsha Film has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tohokushinsha Film's ROC (Joel Greenblatt) % compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, Tohokushinsha Film ranks #206 out of 1015 companies for ROC (Joel Greenblatt) %. This places Tohokushinsha Film in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.85. Tohokushinsha Film's value of 15.60% is 58.4% above this benchmark. Historically, Tohokushinsha Film's own ROC (Joel Greenblatt) % has ranged from 0.42 to 76.21 over the past decade. While the company's 10-year median is 16.20 vs. the industry median of 9.85, Tohokushinsha Film 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 Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 9.85, based on 1,015 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. Tohokushinsha Film's current ROC (Joel Greenblatt) % of 15.60% is 58.4% 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 Tohokushinsha Film and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 9.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tohokushinsha Film's current ROC (Joel Greenblatt) % is 15.60%, which is near median its own 10-year median of 16.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tohokushinsha Film stock overvalued right now?
Based on GuruFocus' analysis, Tohokushinsha Film (TSE:2329) is currently considered Fairly Valued. The stock's GF Value™ is 円525.34, compared to a current price of 円500.00 — trading 4.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 15.60%, which is near median its 10-year median of 16.20 and 58.4% above the Media - Diversified industry median of 9.85. Tohokushinsha Film's overall GF Score™ is 69/100 with 3 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 Tohokushinsha Film (TSE:2329), the current ROC (Joel Greenblatt) % is 15.60% 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 Tohokushinsha Film (TSE:2329) Overvalued in 2026?

Based on GuruFocus' analysis, Tohokushinsha Film stock appears to be undervalued. The current stock price of 円500.00 is trading 4.8% below its estimated GF Value™ of 円525.34. GuruFocus considers Tohokushinsha Film to be Fairly Valued.

Key valuation signals for TSE:2329:

  • ROC (Joel Greenblatt) %: 15.60% (near median its 10-year median of 16.20)
  • GF Value™: 円525.34 vs. price of 円500.00 (4.8% below fair value)
  • GF Score™: 69/100 with 3 warning signs
  • Industry Position: 58.4% above the Media - Diversified median (#206 of 1015)

No single metric tells the full story. See the TSE:2329 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tohokushinsha Film Business Description

Address 4-8-10 Akasaka, Minato-ku, Tokyo, JPN
Tohokushinsha Film Corp is a Japanese based media company. It operates in four business divisions including media production, distribution, broadcasting and commercial film production. Its business activities include advertising production, sales promotion, digital production, dubbing and subtitling, film distribution, film library, television distribution, and broadcasting operations.
69GF Score

Get the complete analysis for TSE:2329

ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円500.00
Price
円525.34
GF Value