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Nihon Denkei CoTSE:9908 +2.06%82 ROC (Joel Greenblatt) % is 20.53% as of Mar. 2026, which is 43% above its 10-year median of 14.33. GuruFocus rates TSE:9908 with a GF Score™ of 82/100 and a GF Value™ of 円2,543.98 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,081 Business Services companies, Nihon Denkei Co ranks worse than 56.61% 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. Nihon Denkei Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.53%.
The historical rank and industry rank for Nihon Denkei Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSE:9908'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.63 Med: 14.33 Max: 22.16
Current: 15.72
During the past 13 years, Nihon Denkei Co's highest ROC (Joel Greenblatt) % was 22.16%. The lowest was 9.63%. And the median was 14.33%.
TSE:9908's ROC (Joel Greenblatt) % is ranked worse than 56.61% of 1081
companies
in the Business Services industry
Industry Median: 22.3
vs TSE:9908: 15.72
Nihon Denkei Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 6.90% per year.
Nihon Denkei Co (TSE:9908) 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.
Nihon Denkei Co ROC (Joel Greenblatt) % Related Terms
Nihon Denkei Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Nihon Denkei 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:9908 vs URI, SUNB, AER: ROC (Joel Greenblatt) % Comparison
For the Rental & Leasing Services subindustry, Nihon Denkei 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.
Nihon Denkei Co ROC (Joel Greenblatt) % vs Business Services Industry
For the Business Services industry and Industrials sector, Nihon Denkei Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nihon Denkei Co's ROC (Joel Greenblatt) % falls into.
Nihon Denkei 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 20.53% mean?
Nihon Denkei Co (TSE:9908) has a ROC (Joel Greenblatt) % of 20.53% 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 Nihon Denkei Co and its competitors. This is 43% above median its historical median of 14.33. Over the past decade, Nihon Denkei Co's ROC (Joel Greenblatt) % has ranged from 9.63 to 22.16. According to the industry distribution chart, Nihon Denkei Co ranks #612 out of 1081 companies in the Business Services industry, placing it in the top 56.6%.
Is Nihon Denkei Co's ROC (Joel Greenblatt) % too high?
Nihon Denkei Co's current ROC (Joel Greenblatt) % of 20.53% is 43% above median its 10-year median of 14.33. Over the past 10 years, this metric has ranged from a low of 9.63 to a high of 22.16. The Business Services industry median ROC (Joel Greenblatt) % is 22.30. Nihon Denkei Co's value of 20.53% is 7.9% below this industry median. Based on the distribution chart, Nihon Denkei Co ranks #612 out of 1081 companies in the Business Services industry, which is below the industry midpoint. Overall, Nihon Denkei Co has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nihon Denkei Co's ROC (Joel Greenblatt) % compare to URI and SUNB?
According to the Business Services industry distribution chart, Nihon Denkei Co ranks #612 out of 1081 companies for ROC (Joel Greenblatt) %. This places Nihon Denkei Co in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 22.30. Nihon Denkei Co's value of 20.53% is 7.9% below this benchmark. Historically, Nihon Denkei Co's own ROC (Joel Greenblatt) % has ranged from 9.63 to 22.16 over the past decade. While the company's 10-year median is 14.33 vs. the industry median of 22.30, Nihon Denkei Co 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 Business Services company?
The median ROC (Joel Greenblatt) % among Business Services companies is 22.30, based on 1,081 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. Nihon Denkei Co's current ROC (Joel Greenblatt) % of 20.53% is 7.9% 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 Nihon Denkei Co and its competitors. For the Business Services industry, the median ROC (Joel Greenblatt) % is 22.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nihon Denkei Co's current ROC (Joel Greenblatt) % is 20.53%, which is 43% above median its own 10-year median of 14.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nihon Denkei Co stock overvalued right now?
Based on GuruFocus' analysis, Nihon Denkei Co (TSE:9908) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,543.98, compared to a current price of 円2,871.00 — trading 12.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 20.53%, which is 43% above median its 10-year median of 14.33 and 7.9% below the Business Services industry median of 22.30. Nihon Denkei Co's overall GF Score™ is 82/100 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 Nihon Denkei Co (TSE:9908), the current ROC (Joel Greenblatt) % is 20.53% 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 Nihon Denkei Co (TSE:9908) Overvalued in 2026?
Based on GuruFocus' analysis, Nihon Denkei Co stock appears to be overvalued.
The current stock price of 円2,871.00 is trading 12.9% above its estimated GF Value™ of 円2,543.98.
GuruFocus considers Nihon Denkei Co to be Modestly Overvalued.
Key valuation signals for TSE:9908:
ROC (Joel Greenblatt) %: 20.53% (43% above median its 10-year median of 14.33)
GF Value™: 円2,543.98 vs. price of 円2,871.00 (12.9% above fair value)
Industry Position: 7.9% below the Business Services median (#612 of 1081)
No single metric tells the full story. See the TSE:9908 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nihon Denkei Co Ltd is engaged in the leasing and rental business of electronic measuring instruments, system equipment, electronic parts, and others. Its three reportable segments being Japan, China, and Other, including Southeast Asia. It derives maximum revenue from Japan.
82GF Score
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