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Ad-Sol NissinTSE:3837 -1.17%93 ROC (Joel Greenblatt) % is 98.14% as of Mar. 2026, which is 65% above its 10-year median of 59.32. GuruFocus rates TSE:3837 with a GF Score™ of 93/100 and a GF Value™ of 円1,275.60 (Modestly Overvalued). Among 2,819 Software companies, Ad-Sol Nissin ranks better than 73.29% 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. Ad-Sol Nissin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 98.14%.
The historical rank and industry rank for Ad-Sol Nissin's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:3837'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 48.16 Med: 59.32 Max: 119.43
Current: 101.64
During the past 13 years, Ad-Sol Nissin's highest ROC (Joel Greenblatt) % was 119.43%. The lowest was 48.16%. And the median was 59.32%.
TSE:3837's ROC (Joel Greenblatt) % is ranked better than 73.29% of 2819
companies
in the Software industry
Industry Median: 19.59
vs TSE:3837: 101.64
Ad-Sol Nissin's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 17.30% per year.
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.
Ad-Sol Nissin ROC (Joel Greenblatt) % Related Terms
Ad-Sol Nissin ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Ad-Sol Nissin'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:3837 vs IBM, ACN, FISV: ROC (Joel Greenblatt) % Comparison
For the Information Technology Services subindustry, Ad-Sol Nissin'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.
Ad-Sol Nissin ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Ad-Sol Nissin's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ad-Sol Nissin'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 (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 98.14% mean?
Ad-Sol Nissin (TSE:3837) has a ROC (Joel Greenblatt) % of 98.14% 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 Ad-Sol Nissin and its competitors. This is 65% above median its historical median of 59.32. Over the past decade, Ad-Sol Nissin's ROC (Joel Greenblatt) % has ranged from 48.16 to 119.43. According to the industry distribution chart, Ad-Sol Nissin ranks #753 out of 2819 companies in the Software industry, placing it in the top 26.7%.
Is Ad-Sol Nissin's ROC (Joel Greenblatt) % too high?
Ad-Sol Nissin's current ROC (Joel Greenblatt) % of 98.14% is 65% above median its 10-year median of 59.32. Over the past 10 years, this metric has ranged from a low of 48.16 to a high of 119.43. The Software industry median ROC (Joel Greenblatt) % is 19.59. Ad-Sol Nissin's value of 98.14% is 401% above this industry median. Based on the distribution chart, Ad-Sol Nissin ranks #753 out of 2819 companies in the Software industry, which is above the industry midpoint. Overall, Ad-Sol Nissin has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ad-Sol Nissin's ROC (Joel Greenblatt) % compare to IBM and ACN?
According to the Software industry distribution chart, Ad-Sol Nissin ranks #753 out of 2819 companies for ROC (Joel Greenblatt) %. This puts Ad-Sol Nissin in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. Ad-Sol Nissin's value of 98.14% is 401% above this benchmark. Historically, Ad-Sol Nissin's own ROC (Joel Greenblatt) % has ranged from 48.16 to 119.43 over the past decade. While the company's 10-year median is 59.32 vs. the industry median of 19.59, Ad-Sol Nissin 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 19.59, based on 2,819 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. Ad-Sol Nissin's current ROC (Joel Greenblatt) % of 98.14% is 401% 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 Ad-Sol Nissin and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 19.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ad-Sol Nissin's current ROC (Joel Greenblatt) % is 98.14%, which is 65% above median its own 10-year median of 59.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ad-Sol Nissin stock overvalued right now?
Based on GuruFocus' analysis, Ad-Sol Nissin (TSE:3837) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,275.60, compared to a current price of 円1,514.00 — trading 18.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 98.14%, which is 65% above median its 10-year median of 59.32 and 401% above the Software industry median of 19.59. Ad-Sol Nissin's overall GF Score™ is 93/100. 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 Ad-Sol Nissin (TSE:3837), the current ROC (Joel Greenblatt) % is 98.14% 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 Ad-Sol Nissin (TSE:3837) Overvalued in 2026?
Based on GuruFocus' analysis, Ad-Sol Nissin stock appears to be overvalued.
The current stock price of 円1,514.00 is trading 18.7% above its estimated GF Value™ of 円1,275.60.
GuruFocus considers Ad-Sol Nissin to be Modestly Overvalued.
Key valuation signals for TSE:3837:
ROC (Joel Greenblatt) %: 98.14% (65% above median its 10-year median of 59.32)
GF Value™: 円1,275.60 vs. price of 円1,514.00 (18.7% above fair value)
Industry Position: 401% above the Software median (#753 of 2819)
No single metric tells the full story. See the TSE:3837 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ad-Sol Nissin Corp develops information systems for enterprises. The company's segments include: Social Infrastructure Business, Advanced Industry Business. The Social Infrastructure Business develops system integration services in social infrastructures such as energy, road, aerospace, and others. Advanced Industry Business promotes Next Generation EV Vehicle, Industrial Equipment, and others.
93GF Score
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