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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. BrightPath Biotherapeutics Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -630.56%.
The historical rank and industry rank for BrightPath Biotherapeutics Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:4594'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2602.35 Med: -699.71 Max: -496.96
Current: -570.51
During the past 12 years, BrightPath Biotherapeutics Co's highest ROC (Joel Greenblatt) % was -496.96%. The lowest was -2602.35%. And the median was -699.71%.
TSE:4594's ROC (Joel Greenblatt) % is ranked worse than 59.38% of 1322
companies
in the Biotechnology industry
Industry Median: -291.605
vs TSE:4594: -570.51
BrightPath Biotherapeutics Co (TSE:4594) 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.
* 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.
BrightPath Biotherapeutics Co ROC (Joel Greenblatt) % Chart
TSE:4594 vs VRTX, REGN, RVMD: ROC (Joel Greenblatt) % Comparison
For the Biotechnology subindustry, BrightPath Biotherapeutics 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.
BrightPath Biotherapeutics Co ROC (Joel Greenblatt) % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, BrightPath Biotherapeutics Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where BrightPath Biotherapeutics Co's ROC (Joel Greenblatt) % falls into.
BrightPath Biotherapeutics 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 -630.56% mean?
BrightPath Biotherapeutics Co (TSE:4594) has a ROC (Joel Greenblatt) % of -630.56% 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 BrightPath Biotherapeutics Co and its competitors. According to the industry distribution chart, BrightPath Biotherapeutics Co ranks #785 out of 1322 companies in the Biotechnology industry, placing it in the top 59.4%.
Is BrightPath Biotherapeutics Co's ROC (Joel Greenblatt) % too high?
BrightPath Biotherapeutics Co's current ROC (Joel Greenblatt) % is -630.56%. Based on the distribution chart, BrightPath Biotherapeutics Co ranks #785 out of 1322 companies in the Biotechnology industry, which is below the industry midpoint. Overall, BrightPath Biotherapeutics Co has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BrightPath Biotherapeutics Co's ROC (Joel Greenblatt) % compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, BrightPath Biotherapeutics Co ranks #785 out of 1322 companies for ROC (Joel Greenblatt) %. This places BrightPath Biotherapeutics Co in the lower half of its industry. 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 Biotechnology company?
A good ROC (Joel Greenblatt) % depends on the Biotechnology industry context. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 BrightPath Biotherapeutics Co and its competitors. BrightPath Biotherapeutics Co's current ROC (Joel Greenblatt) % is -630.56%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BrightPath Biotherapeutics Co stock overvalued right now?
Based on GuruFocus' analysis, BrightPath Biotherapeutics Co (TSE:4594) is currently considered Significantly Overvalued. The stock's GF Value™ is 円4.59, compared to a current price of 円50.00 — trading 989.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is -630.56%. BrightPath Biotherapeutics Co's overall GF Score™ is 45/100 with 4 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 BrightPath Biotherapeutics Co (TSE:4594), the current ROC (Joel Greenblatt) % is -630.56% 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 BrightPath Biotherapeutics Co (TSE:4594) Overvalued in 2026?
Based on GuruFocus' analysis, BrightPath Biotherapeutics Co stock appears to be overvalued.
The current stock price of 円50.00 is trading 989.3% above its estimated GF Value™ of 円4.59.
GuruFocus considers BrightPath Biotherapeutics Co to be Significantly Overvalued.
Key valuation signals for TSE:4594:
ROC (Joel Greenblatt) %: -630.56%
GF Value™: 円4.59 vs. price of 円50.00 (989.3% above fair value)
No single metric tells the full story. See the TSE:4594 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BrightPath Biotherapeutics Co Ltd is a biopharmaceutical venture company. It is engaged in developing novel cancer immunotherapeutics. Its products include two candidate products: ITK-1 and GRN-1201 which are in the clinical trial stage.
45GF Score
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