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.
Forval TelecomTSE:9445 +0.19%71 ROC (Joel Greenblatt) % is 1,420.16% as of Mar. 2026, which is 86% above its 10-year median of 764.81. GuruFocus rates TSE:9445 with a GF Score™ of 71/100 and a GF Value™ of 円454.21 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 370 Telecommunication Services companies, Forval Telecom ranks better than 98.92% 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. Forval Telecom's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1,420.16%.
The historical rank and industry rank for Forval Telecom's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:9445'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1230.26 Med: 764.81 Max: 1494.03
Current: 1359.5
During the past 13 years, Forval Telecom's highest ROC (Joel Greenblatt) % was 1494.03%. The lowest was -1230.26%. And the median was 764.81%.
TSE:9445's ROC (Joel Greenblatt) % is ranked better than 98.92% of 370
companies
in the Telecommunication Services industry
Industry Median: 17.03
vs TSE:9445: 1359.50
Forval Telecom's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 4.90% per year.
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.
Forval Telecom ROC (Joel Greenblatt) % Related Terms
Forval Telecom ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Forval Telecom'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:9445 vs VZ, TMUS, T: ROC (Joel Greenblatt) % Comparison
For the Telecom Services subindustry, Forval Telecom'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.
Forval Telecom ROC (Joel Greenblatt) % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forval Telecom's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Forval Telecom'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 1,420.16% mean?
Forval Telecom (TSE:9445) has a ROC (Joel Greenblatt) % of 1,420.16% 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 Forval Telecom and its competitors. This is 86% above median its historical median of 764.81. According to the industry distribution chart, Forval Telecom ranks #4 out of 370 companies in the Telecommunication Services industry, placing it in the top 1.1%.
Is Forval Telecom's ROC (Joel Greenblatt) % too high?
Forval Telecom's current ROC (Joel Greenblatt) % of 1,420.16% is 86% above median its 10-year median of 764.81. The Telecommunication Services industry median ROC (Joel Greenblatt) % is 17.03. Forval Telecom's value of 1,420.16% is 8239.2% above this industry median. Based on the distribution chart, Forval Telecom ranks #4 out of 370 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Forval Telecom has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forval Telecom's ROC (Joel Greenblatt) % compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forval Telecom ranks #4 out of 370 companies for ROC (Joel Greenblatt) %. This places Forval Telecom in the top 1% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 17.03. Forval Telecom's value of 1,420.16% is 8239.2% above this benchmark. While the company's 10-year median is 764.81 vs. the industry median of 17.03, Forval Telecom 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 Telecommunication Services company?
The median ROC (Joel Greenblatt) % among Telecommunication Services companies is 17.03, based on 370 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. Forval Telecom's current ROC (Joel Greenblatt) % of 1,420.16% is 8239.2% 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 Forval Telecom and its competitors. For the Telecommunication Services industry, the median ROC (Joel Greenblatt) % is 17.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forval Telecom's current ROC (Joel Greenblatt) % is 1,420.16%, which is 86% above median its own 10-year median of 764.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forval Telecom stock overvalued right now?
Based on GuruFocus' analysis, Forval Telecom (TSE:9445) is currently considered Modestly Overvalued. The stock's GF Value™ is 円454.21, compared to a current price of 円535.00 — trading 17.8% above its estimated fair value. The current ROC (Joel Greenblatt) % is 1,420.16%, which is 86% above median its 10-year median of 764.81 and 8239.2% above the Telecommunication Services industry median of 17.03. Forval Telecom's overall GF Score™ is 71/100 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 Forval Telecom (TSE:9445), the current ROC (Joel Greenblatt) % is 1,420.16% 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 Forval Telecom (TSE:9445) Overvalued in 2026?
Based on GuruFocus' analysis, Forval Telecom stock appears to be overvalued.
The current stock price of 円535.00 is trading 17.8% above its estimated GF Value™ of 円454.21.
GuruFocus considers Forval Telecom to be Modestly Overvalued.
Key valuation signals for TSE:9445:
ROC (Joel Greenblatt) %: 1,420.16% (86% above median its 10-year median of 764.81)
GF Value™: 円454.21 vs. price of 円535.00 (17.8% above fair value)
Industry Position: 8239.2% above the Telecommunication Services median (#4 of 370)
No single metric tells the full story. See the TSE:9445 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forval Telecom Inc provides telecommunications communication services and management consulting services in Japan. It provides discount international and domestic telephone and cellular phone services for the business and private sectors. It is also involved in the security certification acquisition consulting business.
71GF Score
Get the complete analysis for TSE:9445
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:9445 has been successfully added to your 
