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.
Eltes CoTSE:3967 65 ROC (Joel Greenblatt) % is 12.05% as of Feb. 2026, which is 63% below its 10-year median of 32.35. GuruFocus rates TSE:3967 with a GF Score™ of 65/100 and a GF Value™ of 円982.41 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 2,818 Software companies, Eltes Co ranks worse than 52.48% 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. Eltes Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 12.05%.
The historical rank and industry rank for Eltes Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:3967'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -224.73 Med: 32.35 Max: 298.46
Current: 15.29
During the past 12 years, Eltes Co's highest ROC (Joel Greenblatt) % was 298.46%. The lowest was -224.73%. And the median was 32.35%.
TSE:3967's ROC (Joel Greenblatt) % is ranked worse than 52.48% of 2818
companies
in the Software industry
Industry Median: 20.03
vs TSE:3967: 15.29
Eltes Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Eltes Co (TSE:3967) 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.
The historical data trend for Eltes 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:3967 vs QH, SHOP, UBER: ROC (Joel Greenblatt) % Comparison
For the Software - Application subindustry, Eltes 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.
Eltes Co ROC (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, Eltes Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Eltes 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 two times the semi-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 12.05% mean?
Eltes Co (TSE:3967) has a ROC (Joel Greenblatt) % of 12.05% 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 Eltes Co and its competitors. This is 63% below median its historical median of 32.35. According to the industry distribution chart, Eltes Co ranks #1479 out of 2818 companies in the Software industry, placing it in the top 52.5%.
Is Eltes Co's ROC (Joel Greenblatt) % too high?
Eltes Co's current ROC (Joel Greenblatt) % of 12.05% is 63% below median its 10-year median of 32.35. The Software industry median ROC (Joel Greenblatt) % is 20.03. Eltes Co's value of 12.05% is 39.8% below this industry median. Based on the distribution chart, Eltes Co ranks #1479 out of 2818 companies in the Software industry, which is below the industry midpoint. Overall, Eltes Co has a GF Score™ of 65/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Eltes Co's ROC (Joel Greenblatt) % compare to QH and SHOP?
According to the Software industry distribution chart, Eltes Co ranks #1479 out of 2818 companies for ROC (Joel Greenblatt) %. This places Eltes Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 20.03. Eltes Co's value of 12.05% is 39.8% below this benchmark. While the company's 10-year median is 32.35 vs. the industry median of 20.03, Eltes Co has consistently been below 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 20.03, based on 2,818 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. Eltes Co's current ROC (Joel Greenblatt) % of 12.05% is 39.8% below 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 Eltes Co and its competitors. For the Software industry, the median ROC (Joel Greenblatt) % is 20.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Eltes Co's current ROC (Joel Greenblatt) % is 12.05%, which is 63% below median its own 10-year median of 32.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eltes Co stock overvalued right now?
Based on GuruFocus' analysis, Eltes Co (TSE:3967) is currently considered Possible Value Trap. The stock's GF Value™ is 円982.41, compared to a current price of 円593.00 — trading 39.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 12.05%, which is 63% below median its 10-year median of 32.35 and 39.8% below the Software industry median of 20.03. Eltes Co's overall GF Score™ is 65/100 with 6 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 Eltes Co (TSE:3967), the current ROC (Joel Greenblatt) % is 12.05% 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.
Is Eltes Co (TSE:3967) Overvalued in 2026?
Based on GuruFocus' analysis, Eltes Co stock appears to be undervalued.
The current stock price of 円593.00 is trading 39.6% below its estimated GF Value™ of 円982.41.
GuruFocus considers Eltes Co to be Possible Value Trap.
Key valuation signals for TSE:3967:
ROC (Joel Greenblatt) %: 12.05% (63% below median its 10-year median of 32.35)
GF Value™: 円982.41 vs. price of 円593.00 (39.6% below fair value)
Industry Position: 39.8% below the Software median (#1479 of 2818)
No single metric tells the full story. See the TSE:3967 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Eltes Co Ltd provides consultation services based on digital risk technology for database risk and other large storage protection in Japan. It also offers internal fraud detection services that enable the prevention of information security breaches caused by internal factors; and a service that includes detection and diagnosis of security breaches caused by external factors.
65GF Score
Get the complete analysis for TSE:3967
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:3967 has been successfully added to your 
