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CRI Middleware CoTSE:3698 -0.76%95 ROC (Joel Greenblatt) % is 119.14% as of Mar. 2026, which is 35% above its 10-year median of 88.21. GuruFocus rates TSE:3698 with a GF Score™ of 95/100 and a GF Value™ of 円1,165.03 (Fairly Valued). The stock has 1 warning sign investors should review. Among 549 Interactive Media companies, CRI Middleware Co ranks better than 68.12% 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. CRI Middleware Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 119.14%.
The historical rank and industry rank for CRI Middleware Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:3698'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 21.92 Med: 88.21 Max: 213.29
Current: 91.35
During the past 13 years, CRI Middleware Co's highest ROC (Joel Greenblatt) % was 213.29%. The lowest was 21.92%. And the median was 88.21%.
TSE:3698's ROC (Joel Greenblatt) % is ranked better than 68.12% of 549
companies
in the Interactive Media industry
Industry Median: 16.14
vs TSE:3698: 91.35
CRI Middleware Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 5.30% per year.
CRI Middleware Co (TSE:3698) 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.
CRI Middleware Co ROC (Joel Greenblatt) % Related Terms
CRI Middleware Co ROC (Joel Greenblatt) % Historical Data
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The historical data trend for CRI Middleware 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:3698 vs NTES, EA, TTWO: ROC (Joel Greenblatt) % Comparison
For the Electronic Gaming & Multimedia subindustry, CRI Middleware 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.
CRI Middleware Co ROC (Joel Greenblatt) % vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, CRI Middleware Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CRI Middleware Co's ROC (Joel Greenblatt) % falls into.
CRI Middleware 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:
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 (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 119.14% mean?
CRI Middleware Co (TSE:3698) has a ROC (Joel Greenblatt) % of 119.14% 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 CRI Middleware Co and its competitors. This is 35% above median its historical median of 88.21. Over the past decade, CRI Middleware Co's ROC (Joel Greenblatt) % has ranged from 21.92 to 213.29. According to the industry distribution chart, CRI Middleware Co ranks #175 out of 549 companies in the Interactive Media industry, placing it in the top 31.9%.
Is CRI Middleware Co's ROC (Joel Greenblatt) % too high?
CRI Middleware Co's current ROC (Joel Greenblatt) % of 119.14% is 35% above median its 10-year median of 88.21. Over the past 10 years, this metric has ranged from a low of 21.92 to a high of 213.29. The Interactive Media industry median ROC (Joel Greenblatt) % is 16.14. CRI Middleware Co's value of 119.14% is 638.2% above this industry median. Based on the distribution chart, CRI Middleware Co ranks #175 out of 549 companies in the Interactive Media industry, which is above the industry midpoint. Overall, CRI Middleware Co has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CRI Middleware Co's ROC (Joel Greenblatt) % compare to NTES and EA?
According to the Interactive Media industry distribution chart, CRI Middleware Co ranks #175 out of 549 companies for ROC (Joel Greenblatt) %. This puts CRI Middleware Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 16.14. CRI Middleware Co's value of 119.14% is 638.2% above this benchmark. Historically, CRI Middleware Co's own ROC (Joel Greenblatt) % has ranged from 21.92 to 213.29 over the past decade. While the company's 10-year median is 88.21 vs. the industry median of 16.14, CRI Middleware 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 an Interactive Media company?
The median ROC (Joel Greenblatt) % among Interactive Media companies is 16.14, based on 549 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. CRI Middleware Co's current ROC (Joel Greenblatt) % of 119.14% is 638.2% 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 CRI Middleware Co and its competitors. For the Interactive Media industry, the median ROC (Joel Greenblatt) % is 16.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CRI Middleware Co's current ROC (Joel Greenblatt) % is 119.14%, which is 35% above median its own 10-year median of 88.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CRI Middleware Co stock overvalued right now?
Based on GuruFocus' analysis, CRI Middleware Co (TSE:3698) is currently considered Fairly Valued. The stock's GF Value™ is 円1,165.03, compared to a current price of 円1,183.00 — trading 1.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 119.14%, which is 35% above median its 10-year median of 88.21 and 638.2% above the Interactive Media industry median of 16.14. CRI Middleware Co's overall GF Score™ is 95/100 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 CRI Middleware Co (TSE:3698), the current ROC (Joel Greenblatt) % is 119.14% 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 CRI Middleware Co (TSE:3698) Overvalued in 2026?
Based on GuruFocus' analysis, CRI Middleware Co stock appears to be overvalued.
The current stock price of 円1,183.00 is trading 1.5% above its estimated GF Value™ of 円1,165.03.
GuruFocus considers CRI Middleware Co to be Fairly Valued.
Key valuation signals for TSE:3698:
ROC (Joel Greenblatt) %: 119.14% (35% above median its 10-year median of 88.21)
GF Value™: 円1,165.03 vs. price of 円1,183.00 (1.5% above fair value)
Industry Position: 638.2% above the Interactive Media median (#175 of 549)
No single metric tells the full story. See the TSE:3698 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CRI Middleware Co Ltd is a provider of audio and video solutions for the gaming industry. It is engaged in the research and development of voice, video and file systems. Further, it also provides sales and support of middleware products. Geographically, the activities are carried out through the region of Japan.
95GF Score
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