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.
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.
Asukanet CoTSE:2438 -0.89%62 ROC (Joel Greenblatt) % is 26.19% as of Apr. 2026, which is 55% above its 10-year median of 16.91. GuruFocus rates TSE:2438 with a GF Score™ of 62/100 and a GF Value™ of 円508.63 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 96 Personal Services companies, Asukanet Co ranks better than 52.08% 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. Asukanet Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 26.19%.
The historical rank and industry rank for Asukanet Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:2438'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.99 Med: 16.91 Max: 43.12
Current: 14.53
During the past 13 years, Asukanet Co's highest ROC (Joel Greenblatt) % was 43.12%. The lowest was 5.99%. And the median was 16.91%.
TSE:2438's ROC (Joel Greenblatt) % is ranked better than 52.08% of 96
companies
in the Personal Services industry
Industry Median: 13.02
vs TSE:2438: 14.53
Asukanet Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -2.20% per year.
Asukanet Co (TSE:2438) 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.
Asukanet Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Asukanet Co'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.
TSE:2438 vs ROL, SCI, HRB: ROC (Joel Greenblatt) % Comparison
For the Personal Services subindustry, Asukanet Co'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.
Asukanet Co ROC (Joel Greenblatt) % vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Asukanet Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Asukanet Co'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 two times the semi-annual (Apr. 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 26.19% mean?
Asukanet Co (TSE:2438) has a ROC (Joel Greenblatt) % of 26.19% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Asukanet Co and its competitors. This is 55% above median its historical median of 16.91. Over the past decade, Asukanet Co's ROC (Joel Greenblatt) % has ranged from 5.99 to 43.12. According to the industry distribution chart, Asukanet Co ranks #46 out of 96 companies in the Personal Services industry, placing it in the top 47.9%.
Is Asukanet Co's ROC (Joel Greenblatt) % too high?
Asukanet Co's current ROC (Joel Greenblatt) % of 26.19% is 55% above median its 10-year median of 16.91. Over the past 10 years, this metric has ranged from a low of 5.99 to a high of 43.12. The Personal Services industry median ROC (Joel Greenblatt) % is 13.02. Asukanet Co's value of 26.19% is 101.2% above this industry median. Based on the distribution chart, Asukanet Co ranks #46 out of 96 companies in the Personal Services industry, which is above the industry midpoint. Overall, Asukanet Co has a GF Score™ of 62/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asukanet Co's ROC (Joel Greenblatt) % compare to ROL and SCI?
According to the Personal Services industry distribution chart, Asukanet Co ranks #46 out of 96 companies for ROC (Joel Greenblatt) %. This puts Asukanet Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 13.02. Asukanet Co's value of 26.19% is 101.2% above this benchmark. Historically, Asukanet Co's own ROC (Joel Greenblatt) % has ranged from 5.99 to 43.12 over the past decade. While the company's 10-year median is 16.91 vs. the industry median of 13.02, Asukanet Co 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 Personal Services company?
The median ROC (Joel Greenblatt) % among Personal Services companies is 13.02, based on 96 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. Asukanet Co's current ROC (Joel Greenblatt) % of 26.19% is 101.2% 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 Asukanet Co and its competitors. For the Personal Services industry, the median ROC (Joel Greenblatt) % is 13.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asukanet Co's current ROC (Joel Greenblatt) % is 26.19%, which is 55% above median its own 10-year median of 16.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asukanet Co stock overvalued right now?
Based on GuruFocus' analysis, Asukanet Co (TSE:2438) is currently considered Significantly Undervalued. The stock's GF Value™ is 円508.63, compared to a current price of 円334.00 — trading 34.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 26.19%, which is 55% above median its 10-year median of 16.91 and 101.2% above the Personal Services industry median of 13.02. Asukanet Co's overall GF Score™ is 62/100 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 Asukanet Co (TSE:2438), the current ROC (Joel Greenblatt) % is 26.19% as of Apr. 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 Asukanet Co (TSE:2438) Overvalued in 2026?
Based on GuruFocus' analysis, Asukanet Co stock appears to be undervalued.
The current stock price of 円334.00 is trading 34.3% below its estimated GF Value™ of 円508.63.
GuruFocus considers Asukanet Co to be Significantly Undervalued.
Key valuation signals for TSE:2438:
ROC (Joel Greenblatt) %: 26.19% (55% above median its 10-year median of 16.91)
GF Value™: 円508.63 vs. price of 円334.00 (34.3% below fair value)
Industry Position: 101.2% above the Personal Services median (#46 of 96)
No single metric tells the full story. See the TSE:2438 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asukanet Co Ltd is engaged in the business of memorial design services which provides digital processing services for portraits of deceased persons, and the provision of funeral-related production services. It is also engaged in the manufacture and sale of individual photo albums. It is also involved in the research and marketing activities related to aerial imaging technology.
62GF Score
Get the complete analysis for TSE:2438
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:2438 has been successfully added to your 
