St.Cousair Co (TSE:2937) ROC (Joel Greenblatt) %: 34.21% (As of Mar. 2026) — 14% Below 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:2937 St.Cousair Co Ltd TSE:2937
64 GF Score
Price 円1,734.00
GF Value 円2,154.11
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is St.Cousair Co ROC (Joel Greenblatt) %?

St.Cousair Co TSE:2937 +0.70% 64 ROC (Joel Greenblatt) % is 34.21% as of Mar. 2026, which is 14% below its 10-year median of 39.82. GuruFocus rates TSE:2937 with a GF Score™ of 64/100 and a GF Value™ of 円2,154.11 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,981 Consumer Packaged Goods companies, St.Cousair Co ranks better than 73.09% 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. St.Cousair Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 34.21%.

The historical rank and industry rank for St.Cousair Co's ROC (Joel Greenblatt) % or its related term are showing as below:

TSE:2937' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 19.44   Med: 39.82   Max: 76.15
Current: 23.65

During the past 6 years, St.Cousair Co's highest ROC (Joel Greenblatt) % was 76.15%. The lowest was 19.44%. And the median was 39.82%.

TSE:2937's ROC (Joel Greenblatt) % is ranked better than
73.09% of 1981 companies
in the Consumer Packaged Goods industry
Industry Median: 11.99 vs TSE:2937: 23.65

St.Cousair Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -14.30% per year.


St.Cousair Co  (TSE:2937) 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.


St.Cousair Co ROC (Joel Greenblatt) % Related Terms


St.Cousair Co ROC (Joel Greenblatt) % Historical Data

* Premium members only.

The historical data trend for St.Cousair 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.

St.Cousair Co ROC (Joel Greenblatt) % Chart

St.Cousair Co Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial 71.96 76.15 51.47 19.44 22.62

St.Cousair Co Semi-Annual Data
Mar21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only 36.46 4.47 33.65 14.37 34.21

TSE:2937 vs KHC, GIS: ROC (Joel Greenblatt) % Comparison

For the Packaged Foods subindustry, St.Cousair 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.


St.Cousair Co ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, St.Cousair Co's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where St.Cousair Co's ROC (Joel Greenblatt) % falls into.


TSE:2937
64GF Score
St.Cousair Co Ltd TSE:2937
ROC (Joel Greenblatt) % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

St.Cousair Co 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: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1647.08 + 2034.418 + 118.196) - (1327.085 + 0 + 978.919)
=1493.69

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2037.591 + 1917.021 + 109.135) - (1527.324 + 0 + 931.788)
=1604.635

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of St.Cousair Co 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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1207.19/( ( (1821.03 + max(1493.69, 0)) + (2138.078 + max(1604.635, 0)) )/ 2 )
=1207.19/( ( 3314.72 + 3742.713 )/ 2 )
=1207.19/3528.7165
=34.21 %

Note: The EBIT data used here is two times the semi-annual (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 34.21% mean?
St.Cousair Co (TSE:2937) has a ROC (Joel Greenblatt) % of 34.21% 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 St.Cousair Co and its competitors. This is 14% below median its historical median of 39.82. Over the past decade, St.Cousair Co's ROC (Joel Greenblatt) % has ranged from 19.44 to 76.15. According to the industry distribution chart, St.Cousair Co ranks #533 out of 1981 companies in the Consumer Packaged Goods industry, placing it in the top 26.9%.
Is St.Cousair Co's ROC (Joel Greenblatt) % too high?
St.Cousair Co's current ROC (Joel Greenblatt) % of 34.21% is 14% below median its 10-year median of 39.82. Over the past 10 years, this metric has ranged from a low of 19.44 to a high of 76.15. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. St.Cousair Co's value of 34.21% is 185.3% above this industry median. Based on the distribution chart, St.Cousair Co ranks #533 out of 1981 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, St.Cousair Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does St.Cousair Co's ROC (Joel Greenblatt) % compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, St.Cousair Co ranks #533 out of 1981 companies for ROC (Joel Greenblatt) %. This puts St.Cousair Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.99. St.Cousair Co's value of 34.21% is 185.3% above this benchmark. Historically, St.Cousair Co's own ROC (Joel Greenblatt) % has ranged from 19.44 to 76.15 over the past decade. While the company's 10-year median is 39.82 vs. the industry median of 11.99, St.Cousair 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 Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,981 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. St.Cousair Co's current ROC (Joel Greenblatt) % of 34.21% is 185.3% 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 St.Cousair Co and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. St.Cousair Co's current ROC (Joel Greenblatt) % is 34.21%, which is 14% below median its own 10-year median of 39.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is St.Cousair Co stock overvalued right now?
Based on GuruFocus' analysis, St.Cousair Co (TSE:2937) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,154.11, compared to a current price of 円1,734.00 — trading 19.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 34.21%, which is 14% below median its 10-year median of 39.82 and 185.3% above the Consumer Packaged Goods industry median of 11.99. St.Cousair Co's overall GF Score™ is 64/100 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 St.Cousair Co (TSE:2937), the current ROC (Joel Greenblatt) % is 34.21% 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 St.Cousair Co (TSE:2937) Overvalued in 2026?

Based on GuruFocus' analysis, St.Cousair Co stock appears to be undervalued. The current stock price of 円1,734.00 is trading 19.5% below its estimated GF Value™ of 円2,154.11. GuruFocus considers St.Cousair Co to be Modestly Undervalued.

Key valuation signals for TSE:2937:

  • ROC (Joel Greenblatt) %: 34.21% (14% below median its 10-year median of 39.82)
  • GF Value™: 円2,154.11 vs. price of 円1,734.00 (19.5% below fair value)
  • GF Score™: 64/100 with 3 warning signs
  • Industry Position: 185.3% above the Consumer Packaged Goods median (#533 of 1981)

No single metric tells the full story. See the TSE:2937 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


St.Cousair Co Business Description

Address Oaza Imokawa 1260, Saint Cousair Hill, Iizuna-machi, Kamiminochi-gun, Nagano Prefecture, Nagano, JPN, 389-1201
St.Cousair Co Ltd is engaged in the food manufacturing and sales business, operating company-owned and franchise stores throughout Japan. In addition to company-owned stores, the group also sells products through various channels, such as online shops, websites, and an online marketplace. It offers various food products and ingredients such as wine, jam, pasta sauce, rice accompaniments, dashi, miso, soy sauce, drink bases, dressings, jellies, etc. These products are marketed through brands like Saint Cousair, Kuze Fuku & Sons, Portlandia Foods, Bonnie's Jams, and others. The group operates in a single segment, food manufacturing and sales. Geographically, it operates in Japan, Taiwan, Korea, Australia, China, the United States, and other markets.
64GF Score

Get the complete analysis for TSE:2937

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

円1,734.00
Price
円2,154.11
GF Value