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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. AXIS IT Partners's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 22.46%.
The historical rank and industry rank for AXIS IT Partners's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:351A'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 11.01 Med: 21.76 Max: 23.59
Current: 23.59
During the past 3 years, AXIS IT Partners's highest ROC (Joel Greenblatt) % was 23.59%. The lowest was 11.01%. And the median was 21.76%.
TSE:351A's ROC (Joel Greenblatt) % is not ranked
in the Software industry.
Industry Median: 21.33
vs TSE:351A: 23.59
AXIS IT Partners's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
AXIS IT Partners (TSE:351A) 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.
AXIS IT Partners ROC (Joel Greenblatt) % Related Terms
AXIS IT Partners ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for AXIS IT Partners'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.
AXIS IT Partners ROC (Joel Greenblatt) % Chart
AXIS IT Partners Annual Data
Trend
Aug23
Aug24
Aug25
ROC (Joel Greenblatt) %
11.01
21.76
23.52
AXIS IT Partners Semi-Annual Data
Aug23
Aug24
Feb25
Aug25
Feb26
ROC (Joel Greenblatt) %
0.00
0.00
18.79
1.95
22.46
TSE:351A vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, AXIS IT Partners'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.
AXIS IT Partners ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, AXIS IT Partners's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where AXIS IT Partners's ROC (Joel Greenblatt) % falls into.
AXIS IT Partners 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 one times the annual (Feb. 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 22.46% mean?
AXIS IT Partners (TSE:351A) has a ROC (Joel Greenblatt) % of 22.46% as of Feb. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on AXIS IT Partners and its competitors. This is near median its historical median of 21.76. Over the past decade, AXIS IT Partners' ROC (Joel Greenblatt) % has ranged from 11.01 to 23.59.
Is AXIS IT Partners' ROC (Joel Greenblatt) % too high?
AXIS IT Partners' current ROC (Joel Greenblatt) % of 22.46% is near median its 10-year median of 21.76. Over the past 10 years, this metric has ranged from a low of 11.01 to a high of 23.59. The Software industry median ROC (Joel Greenblatt) % is 21.33. AXIS IT Partners' value of 22.46% is 5.3% above this industry median. Overall, AXIS IT Partners has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does AXIS IT Partners' ROC (Joel Greenblatt) % compare to IBM and ACN?
AXIS IT Partners' ROC (Joel Greenblatt) % of 22.46% can be compared against companies in the Software industry. The industry median ROC (Joel Greenblatt) % is 21.33. AXIS IT Partners' value of 22.46% is 5.3% above this benchmark. Historically, AXIS IT Partners' own ROC (Joel Greenblatt) % has ranged from 11.01 to 23.59 over the past decade. While the company's 10-year median is 21.76 vs. the industry median of 21.33, AXIS IT Partners 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 Software company?
The median ROC (Joel Greenblatt) % among Software companies is 21.33, based on 2,822 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. AXIS IT Partners's current ROC (Joel Greenblatt) % of 22.46% is 5.3% 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 AXIS IT Partners and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 21.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AXIS IT Partners's current ROC (Joel Greenblatt) % is 22.46%, which is near median its own 10-year median of 21.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AXIS IT Partners stock overvalued right now?
AXIS IT Partners (TSE:351A) has a current ROC (Joel Greenblatt) % of 22.46%. The current ROC (Joel Greenblatt) % is 22.46%, which is near median its 10-year median of 21.76 and 5.3% above the Software industry median of 21.33. AXIS IT Partners' overall GF Score™ is 15/100 with 2 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 AXIS IT Partners (TSE:351A), the current ROC (Joel Greenblatt) % is 22.46% as of Feb. 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.
AXIS IT Partners Corp is a Japanese information technology services company that supports business transformation for corporations and government agencies. It provides one-stop services spanning systems development, systems integration, and IT outsourcing, covering the full lifecycle from planning and design through development, operation, and maintenance. The company also develops and operates platform services that apply IT to address social issues in areas such as social infrastructure, including architecture and energy, and network infrastructure. Its customers are primarily Japanese enterprises and public-sector organizations, and its revenue derives mainly from systems development projects, ongoing operation and maintenance contracts, and outsourcing arrangements. The company is listed on the Tokyo Stock Exchange under the ticker 351A.
15GF Score
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