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Asia Air Survey CoTSE:9233 +0.18%82 ROC (Joel Greenblatt) % is 52.15% as of Mar. 2026, which is 80% above its 10-year median of 29.04. GuruFocus rates TSE:9233 with a GF Score™ of 82/100 and a GF Value™ of 円1,170.02 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,788 Construction companies, Asia Air Survey Co ranks worse than 60.12% 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. Asia Air Survey Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 52.15%.
The historical rank and industry rank for Asia Air Survey Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:9233'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.47 Med: 29.04 Max: 65.29
Current: 12.47
During the past 13 years, Asia Air Survey Co's highest ROC (Joel Greenblatt) % was 65.29%. The lowest was 12.47%. And the median was 29.04%.
TSE:9233's ROC (Joel Greenblatt) % is ranked worse than 60.12% of 1788
companies
in the Construction industry
Industry Median: 19.52
vs TSE:9233: 12.47
Asia Air Survey Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -5.50% per year.
Asia Air Survey Co (TSE:9233) 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.
Asia Air Survey Co ROC (Joel Greenblatt) % Related Terms
Asia Air Survey Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Asia Air Survey 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:9233 vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, Asia Air Survey 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.
Asia Air Survey Co ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Asia Air Survey Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Asia Air Survey Co's ROC (Joel Greenblatt) % falls into.
Asia Air Survey 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 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 52.15% mean?
Asia Air Survey Co (TSE:9233) has a ROC (Joel Greenblatt) % of 52.15% 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 Asia Air Survey Co and its competitors. This is 80% above median its historical median of 29.04. Over the past decade, Asia Air Survey Co's ROC (Joel Greenblatt) % has ranged from 12.47 to 65.29. According to the industry distribution chart, Asia Air Survey Co ranks #1075 out of 1788 companies in the Construction industry, placing it in the top 60.1%.
Is Asia Air Survey Co's ROC (Joel Greenblatt) % too high?
Asia Air Survey Co's current ROC (Joel Greenblatt) % of 52.15% is 80% above median its 10-year median of 29.04. Over the past 10 years, this metric has ranged from a low of 12.47 to a high of 65.29. The Construction industry median ROC (Joel Greenblatt) % is 19.52. Asia Air Survey Co's value of 52.15% is 167.2% above this industry median. Based on the distribution chart, Asia Air Survey Co ranks #1075 out of 1788 companies in the Construction industry, which is below the industry midpoint. Overall, Asia Air Survey Co has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asia Air Survey Co's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, Asia Air Survey Co ranks #1075 out of 1788 companies for ROC (Joel Greenblatt) %. This places Asia Air Survey Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.52. Asia Air Survey Co's value of 52.15% is 167.2% above this benchmark. Historically, Asia Air Survey Co's own ROC (Joel Greenblatt) % has ranged from 12.47 to 65.29 over the past decade. While the company's 10-year median is 29.04 vs. the industry median of 19.52, Asia Air Survey 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.52, based on 1,788 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. Asia Air Survey Co's current ROC (Joel Greenblatt) % of 52.15% is 167.2% 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 Asia Air Survey Co and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Air Survey Co's current ROC (Joel Greenblatt) % is 52.15%, which is 80% above median its own 10-year median of 29.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Air Survey Co stock overvalued right now?
Based on GuruFocus' analysis, Asia Air Survey Co (TSE:9233) is currently considered Fairly Valued. The stock's GF Value™ is 円1,170.02, compared to a current price of 円1,133.00 — trading 3.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 52.15%, which is 80% above median its 10-year median of 29.04 and 167.2% above the Construction industry median of 19.52. Asia Air Survey Co's overall GF Score™ is 82/100 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 Asia Air Survey Co (TSE:9233), the current ROC (Joel Greenblatt) % is 52.15% 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 Asia Air Survey Co (TSE:9233) Overvalued in 2026?
Based on GuruFocus' analysis, Asia Air Survey Co stock appears to be undervalued.
The current stock price of 円1,133.00 is trading 3.2% below its estimated GF Value™ of 円1,170.02.
GuruFocus considers Asia Air Survey Co to be Fairly Valued.
Key valuation signals for TSE:9233:
ROC (Joel Greenblatt) %: 52.15% (80% above median its 10-year median of 29.04)
GF Value™: 円1,170.02 vs. price of 円1,133.00 (3.2% below fair value)
Industry Position: 167.2% above the Construction median (#1075 of 1788)
No single metric tells the full story. See the TSE:9233 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asia Air Survey Co Ltd is a construction consulting company specializing in aerial surveying. The company includes a group of technical specialists with high-precision, specialized technology in businesses and fields such as surveying, disaster prevention, the environment and spatial information.
82GF Score
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