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Zero CoTSE:9028 -0.68%87 ROC (Joel Greenblatt) % is 39.78% as of Mar. 2026, which is 67% above its 10-year median of 23.75. GuruFocus rates TSE:9028 with a GF Score™ of 87/100 and a GF Value™ of 円2,582.48 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,332 Vehicles & Parts companies, Zero Co ranks better than 80.41% 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. Zero Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 39.78%.
The historical rank and industry rank for Zero Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:9028'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 14.75 Med: 23.75 Max: 63.88
Current: 26.84
During the past 13 years, Zero Co's highest ROC (Joel Greenblatt) % was 63.88%. The lowest was 14.75%. And the median was 23.75%.
TSE:9028's ROC (Joel Greenblatt) % is ranked better than 80.41% of 1332
companies
in the Vehicles & Parts industry
Industry Median: 11.97
vs TSE:9028: 26.84
Zero Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.60% per year.
Zero Co (TSE:9028) 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 Zero 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:9028 vs CVNA, PAG, ALTB: ROC (Joel Greenblatt) % Comparison
For the Auto & Truck Dealerships subindustry, Zero 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.
Zero Co ROC (Joel Greenblatt) % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Zero Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Zero 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 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 39.78% mean?
Zero Co (TSE:9028) has a ROC (Joel Greenblatt) % of 39.78% 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 Zero Co and its competitors. This is 67% above median its historical median of 23.75. Over the past decade, Zero Co's ROC (Joel Greenblatt) % has ranged from 14.75 to 63.88. According to the industry distribution chart, Zero Co ranks #261 out of 1332 companies in the Vehicles & Parts industry, placing it in the top 19.6%.
Is Zero Co's ROC (Joel Greenblatt) % too high?
Zero Co's current ROC (Joel Greenblatt) % of 39.78% is 67% above median its 10-year median of 23.75. Over the past 10 years, this metric has ranged from a low of 14.75 to a high of 63.88. The Vehicles & Parts industry median ROC (Joel Greenblatt) % is 11.97. Zero Co's value of 39.78% is 232.3% above this industry median. Based on the distribution chart, Zero Co ranks #261 out of 1332 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Zero Co has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zero Co's ROC (Joel Greenblatt) % compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Zero Co ranks #261 out of 1332 companies for ROC (Joel Greenblatt) %. This places Zero Co in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.97. Zero Co's value of 39.78% is 232.3% above this benchmark. Historically, Zero Co's own ROC (Joel Greenblatt) % has ranged from 14.75 to 63.88 over the past decade. While the company's 10-year median is 23.75 vs. the industry median of 11.97, Zero 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 a Vehicles & Parts company?
The median ROC (Joel Greenblatt) % among Vehicles & Parts companies is 11.97, based on 1,332 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. Zero Co's current ROC (Joel Greenblatt) % of 39.78% is 232.3% 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 Zero Co and its competitors. For the Vehicles & Parts industry, the median ROC (Joel Greenblatt) % is 11.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zero Co's current ROC (Joel Greenblatt) % is 39.78%, which is 67% above median its own 10-year median of 23.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zero Co stock overvalued right now?
Based on GuruFocus' analysis, Zero Co (TSE:9028) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,582.48, compared to a current price of 円3,650.00 — trading 41.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 39.78%, which is 67% above median its 10-year median of 23.75 and 232.3% above the Vehicles & Parts industry median of 11.97. Zero Co's overall GF Score™ is 87/100 with 2 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 Zero Co (TSE:9028), the current ROC (Joel Greenblatt) % is 39.78% 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 Zero Co (TSE:9028) Overvalued in 2026?
Based on GuruFocus' analysis, Zero Co stock appears to be overvalued.
The current stock price of 円3,650.00 is trading 41.3% above its estimated GF Value™ of 円2,582.48.
GuruFocus considers Zero Co to be Significantly Overvalued.
Key valuation signals for TSE:9028:
ROC (Joel Greenblatt) %: 39.78% (67% above median its 10-year median of 23.75)
GF Value™: 円2,582.48 vs. price of 円3,650.00 (41.3% above fair value)
Industry Position: 232.3% above the Vehicles & Parts median (#261 of 1332)
No single metric tells the full story. See the TSE:9028 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zero Co Ltd provides transportation services including new and used vehicle transportation, door-to-door transportation of private cars and motorbikes, new and heavy vehicle maintenance, handling and vehicle inspection at the auto auction.
87GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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