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Hokuriku Gas CoTSE:9537 +2.20%71 ROC (Joel Greenblatt) % is 12.75% as of Mar. 2026, which is 181% above its 10-year median of 4.53. GuruFocus rates TSE:9537 with a GF Score™ of 71/100 and a GF Value™ of 円3,699.87 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 505 Utilities - Regulated companies, Hokuriku Gas Co ranks worse than 50.3% 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. Hokuriku Gas Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.75%.
The historical rank and industry rank for Hokuriku Gas Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:9537'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2.04 Med: 4.53 Max: 10.78
Current: 10.78
During the past 13 years, Hokuriku Gas Co's highest ROC (Joel Greenblatt) % was 10.78%. The lowest was -2.04%. And the median was 4.53%.
TSE:9537's ROC (Joel Greenblatt) % is ranked worse than 50.3% of 505
companies
in the Utilities - Regulated industry
Industry Median: 10.84
vs TSE:9537: 10.78
Hokuriku Gas Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Hokuriku Gas Co (TSE:9537) 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.
Hokuriku Gas Co ROC (Joel Greenblatt) % Related Terms
Hokuriku Gas Co ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Hokuriku Gas 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:9537 vs ATO, NI, UGI: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Gas subindustry, Hokuriku Gas 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.
Hokuriku Gas Co ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hokuriku Gas Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hokuriku Gas Co's ROC (Joel Greenblatt) % falls into.
Hokuriku Gas 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 12.75% mean?
Hokuriku Gas Co (TSE:9537) has a ROC (Joel Greenblatt) % of 12.75% 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 Hokuriku Gas Co and its competitors. This is 181% above median its historical median of 4.53. According to the industry distribution chart, Hokuriku Gas Co ranks #254 out of 505 companies in the Utilities - Regulated industry, placing it in the top 50.3%.
Is Hokuriku Gas Co's ROC (Joel Greenblatt) % too high?
Hokuriku Gas Co's current ROC (Joel Greenblatt) % of 12.75% is 181% above median its 10-year median of 4.53. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.84. Hokuriku Gas Co's value of 12.75% is 17.6% above this industry median. Based on the distribution chart, Hokuriku Gas Co ranks #254 out of 505 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Hokuriku Gas Co has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hokuriku Gas Co's ROC (Joel Greenblatt) % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hokuriku Gas Co ranks #254 out of 505 companies for ROC (Joel Greenblatt) %. This places Hokuriku Gas Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.84. Hokuriku Gas Co's value of 12.75% is 17.6% above this benchmark. While the company's 10-year median is 4.53 vs. the industry median of 10.84, Hokuriku Gas 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 an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.84, based on 505 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. Hokuriku Gas Co's current ROC (Joel Greenblatt) % of 12.75% is 17.6% 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 Hokuriku Gas Co and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hokuriku Gas Co's current ROC (Joel Greenblatt) % is 12.75%, which is 181% above median its own 10-year median of 4.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hokuriku Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hokuriku Gas Co (TSE:9537) is currently considered Modestly Overvalued. The stock's GF Value™ is 円3,699.87, compared to a current price of 円4,650.00 — trading 25.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 12.75%, which is 181% above median its 10-year median of 4.53 and 17.6% above the Utilities - Regulated industry median of 10.84. Hokuriku Gas Co'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 Hokuriku Gas Co (TSE:9537), the current ROC (Joel Greenblatt) % is 12.75% 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 Hokuriku Gas Co (TSE:9537) Overvalued in 2026?
Based on GuruFocus' analysis, Hokuriku Gas Co stock appears to be overvalued.
The current stock price of 円4,650.00 is trading 25.7% above its estimated GF Value™ of 円3,699.87.
GuruFocus considers Hokuriku Gas Co to be Modestly Overvalued.
Key valuation signals for TSE:9537:
ROC (Joel Greenblatt) %: 12.75% (181% above median its 10-year median of 4.53)
GF Value™: 円3,699.87 vs. price of 円4,650.00 (25.7% above fair value)
Industry Position: 17.6% above the Utilities - Regulated median (#254 of 505)
No single metric tells the full story. See the TSE:9537 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hokuriku Gas Co Ltd engages in the manufacture, supply, and sale of city gas and gas-related equipment. It is involved in the manufacture, supply, and sale of city gas, as well as the operation of gas works and the sale of gas equipment. The firm also engages in the sale of liquefied petroleum gas (LPG) and LPG equipment, the operation of LPG piping works, gas works and civil engineering works, the design, installation, maintenance, security and inspection of gas equipment, the sale, installation and meter reading of housing facilities and equipment, the leasing and management of buildings, the leasing of business equipment and vehicles, It also undertakes gas construction contracts; and sells gas appliances.
71GF Score
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