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.
Tokyo Base CoTSE:3415 -1.33%92 ROC (Joel Greenblatt) % is 56.16% as of Jan. 2026, which is 22% below its 10-year median of 72.08. GuruFocus rates TSE:3415 with a GF Score™ of 92/100 and a GF Value™ of 円433.38 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,125 Retail - Cyclical companies, Tokyo Base Co ranks better than 79.73% 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. Tokyo Base Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2026 was 56.16%.
The historical rank and industry rank for Tokyo Base Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:3415'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -4.54 Med: 72.08 Max: 239.48
Current: 36.12
During the past 11 years, Tokyo Base Co's highest ROC (Joel Greenblatt) % was 239.48%. The lowest was -4.54%. And the median was 72.08%.
TSE:3415's ROC (Joel Greenblatt) % is ranked better than 79.73% of 1125
companies
in the Retail - Cyclical industry
Industry Median: 11.86
vs TSE:3415: 36.12
Tokyo Base Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Tokyo Base Co (TSE:3415) 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.
Tokyo Base Co ROC (Joel Greenblatt) % Related Terms
Tokyo Base Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Tokyo Base 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:3415 vs TJX, ROST, BURL: ROC (Joel Greenblatt) % Comparison
For the Apparel Retail subindustry, Tokyo Base 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.
Tokyo Base Co ROC (Joel Greenblatt) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Tokyo Base Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tokyo Base 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 four times the quarterly (Jan. 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 56.16% mean?
Tokyo Base Co (TSE:3415) has a ROC (Joel Greenblatt) % of 56.16% as of Jan. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tokyo Base Co and its competitors. This is 22% below median its historical median of 72.08. According to the industry distribution chart, Tokyo Base Co ranks #228 out of 1125 companies in the Retail - Cyclical industry, placing it in the top 20.3%.
Is Tokyo Base Co's ROC (Joel Greenblatt) % too high?
Tokyo Base Co's current ROC (Joel Greenblatt) % of 56.16% is 22% below median its 10-year median of 72.08. The Retail - Cyclical industry median ROC (Joel Greenblatt) % is 11.86. Tokyo Base Co's value of 56.16% is 373.5% above this industry median. Based on the distribution chart, Tokyo Base Co ranks #228 out of 1125 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Tokyo Base Co has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Base Co's ROC (Joel Greenblatt) % compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Tokyo Base Co ranks #228 out of 1125 companies for ROC (Joel Greenblatt) %. This places Tokyo Base Co in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.86. Tokyo Base Co's value of 56.16% is 373.5% above this benchmark. While the company's 10-year median is 72.08 vs. the industry median of 11.86, Tokyo Base 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 Retail - Cyclical company?
The median ROC (Joel Greenblatt) % among Retail - Cyclical companies is 11.86, based on 1,125 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. Tokyo Base Co's current ROC (Joel Greenblatt) % of 56.16% is 373.5% 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 Tokyo Base Co and its competitors. For the Retail - Cyclical industry, the median ROC (Joel Greenblatt) % is 11.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Base Co's current ROC (Joel Greenblatt) % is 56.16%, which is 22% below median its own 10-year median of 72.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Base Co stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Base Co (TSE:3415) is currently considered Modestly Undervalued. The stock's GF Value™ is 円433.38, compared to a current price of 円371.00 — trading 14.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 56.16%, which is 22% below median its 10-year median of 72.08 and 373.5% above the Retail - Cyclical industry median of 11.86. Tokyo Base Co's overall GF Score™ is 92/100 with 1 warning sign 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 Tokyo Base Co (TSE:3415), the current ROC (Joel Greenblatt) % is 56.16% as of Jan. 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 Tokyo Base Co (TSE:3415) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Base Co stock appears to be undervalued.
The current stock price of 円371.00 is trading 14.4% below its estimated GF Value™ of 円433.38.
GuruFocus considers Tokyo Base Co to be Modestly Undervalued.
Key valuation signals for TSE:3415:
ROC (Joel Greenblatt) %: 56.16% (22% below median its 10-year median of 72.08)
GF Value™: 円433.38 vs. price of 円371.00 (14.4% below fair value)
Industry Position: 373.5% above the Retail - Cyclical median (#228 of 1125)
No single metric tells the full story. See the TSE:3415 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Base Co Ltd is engaged in the retail sale of apparel goods for men and women. The company operates its stores under the STUDIOUS, UNITED TOKYO, CITY, and PUBLIC TOKYO brand names. The company products include tops, bottoms, shoes, bags, accessories and other goods.
92GF Score
Get the complete analysis for TSE:3415
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:3415 has been successfully added to your 
