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Nakayama Steel WorksTSE:5408 -0.62%67 ROC (Joel Greenblatt) % is 3.98% as of Mar. 2026, which is 52% below its 10-year median of 8.31. GuruFocus rates TSE:5408 with a GF Score™ of 67/100 and a GF Value™ of 円620.32 (Fairly Valued). The stock has 3 warning signs investors should review. Among 633 Steel companies, Nakayama Steel Works ranks worse than 63.19% 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. Nakayama Steel Works's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.98%.
The historical rank and industry rank for Nakayama Steel Works's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:5408'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.69 Med: 8.31 Max: 15.08
Current: 3.71
During the past 13 years, Nakayama Steel Works's highest ROC (Joel Greenblatt) % was 15.08%. The lowest was 3.69%. And the median was 8.31%.
TSE:5408's ROC (Joel Greenblatt) % is ranked worse than 63.19% of 633
companies
in the Steel industry
Industry Median: 7.18
vs TSE:5408: 3.71
Nakayama Steel Works's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -0.90% per year.
Nakayama Steel Works (TSE:5408) 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.
Nakayama Steel Works ROC (Joel Greenblatt) % Related Terms
Nakayama Steel Works ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Nakayama Steel Works'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.
Nakayama Steel Works ROC (Joel Greenblatt) % Chart
TSE:5408 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Nakayama Steel Works'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.
Nakayama Steel Works ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Nakayama Steel Works's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nakayama Steel Works's ROC (Joel Greenblatt) % falls into.
Nakayama Steel Works 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 four times the quarterly (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 3.98% mean?
Nakayama Steel Works (TSE:5408) has a ROC (Joel Greenblatt) % of 3.98% 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 Nakayama Steel Works and its competitors. This is 52% below median its historical median of 8.31. Over the past decade, Nakayama Steel Works' ROC (Joel Greenblatt) % has ranged from 3.69 to 15.08. According to the industry distribution chart, Nakayama Steel Works ranks #400 out of 633 companies in the Steel industry, placing it in the top 63.2%.
Is Nakayama Steel Works' ROC (Joel Greenblatt) % too high?
Nakayama Steel Works' current ROC (Joel Greenblatt) % of 3.98% is 52% below median its 10-year median of 8.31. Over the past 10 years, this metric has ranged from a low of 3.69 to a high of 15.08. The Steel industry median ROC (Joel Greenblatt) % is 7.18. Nakayama Steel Works' value of 3.98% is 44.6% below this industry median. Based on the distribution chart, Nakayama Steel Works ranks #400 out of 633 companies in the Steel industry, which is below the industry midpoint. Overall, Nakayama Steel Works has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nakayama Steel Works' ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Nakayama Steel Works ranks #400 out of 633 companies for ROC (Joel Greenblatt) %. This places Nakayama Steel Works in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 7.18. Nakayama Steel Works' value of 3.98% is 44.6% below this benchmark. Historically, Nakayama Steel Works' own ROC (Joel Greenblatt) % has ranged from 3.69 to 15.08 over the past decade. While the company's 10-year median is 8.31 vs. the industry median of 7.18, Nakayama Steel Works 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.18, based on 633 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. Nakayama Steel Works's current ROC (Joel Greenblatt) % of 3.98% is 44.6% 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 Nakayama Steel Works and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nakayama Steel Works's current ROC (Joel Greenblatt) % is 3.98%, which is 52% below median its own 10-year median of 8.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nakayama Steel Works stock overvalued right now?
Based on GuruFocus' analysis, Nakayama Steel Works (TSE:5408) is currently considered Fairly Valued. The stock's GF Value™ is 円620.32, compared to a current price of 円644.00 — trading 3.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 3.98%, which is 52% below median its 10-year median of 8.31 and 44.6% below the Steel industry median of 7.18. Nakayama Steel Works' overall GF Score™ is 67/100 with 3 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 Nakayama Steel Works (TSE:5408), the current ROC (Joel Greenblatt) % is 3.98% 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 Nakayama Steel Works (TSE:5408) Overvalued in 2026?
Based on GuruFocus' analysis, Nakayama Steel Works stock appears to be overvalued.
The current stock price of 円644.00 is trading 3.8% above its estimated GF Value™ of 円620.32.
GuruFocus considers Nakayama Steel Works to be Fairly Valued.
Key valuation signals for TSE:5408:
ROC (Joel Greenblatt) %: 3.98% (52% below median its 10-year median of 8.31)
GF Value™: 円620.32 vs. price of 円644.00 (3.8% above fair value)
Industry Position: 44.6% below the Steel median (#400 of 633)
No single metric tells the full story. See the TSE:5408 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nakayama Steel Works Ltd is a Japan-based company. The company operates in Steel, Engineering, and Real estate business. Its Steel business includes manufacturing and sale of steel products including coil products, steel sheets, bars and wire products. The company is also engaged in real estate buying, leasing and selling.
67GF Score
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