Tsingtao Brewery CoTSGTY -6.01%86 ROC (Joel Greenblatt) % is 72.67% as of Mar. 2026, which is 102% above its 10-year median of 35.91. GuruFocus rates TSGTY with a GF Score™ of 86/100 and a GF Value™ of $38.76 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 212 Beverages - Alcoholic companies, Tsingtao Brewery Co ranks better than 86.79% 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. Tsingtao Brewery Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 72.67%.
The historical rank and industry rank for Tsingtao Brewery Co's ROC (Joel Greenblatt) % or its related term are showing as below:
TSGTY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 18.53 Med: 35.91 Max: 49.29
Current: 49.02
During the past 13 years, Tsingtao Brewery Co's highest ROC (Joel Greenblatt) % was 49.29%. The lowest was 18.53%. And the median was 35.91%.
TSGTY's ROC (Joel Greenblatt) % is ranked better than 86.79% of 212
companies
in the Beverages - Alcoholic industry
Industry Median: 11.825
vs TSGTY: 49.02
Tsingtao Brewery Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.50% per year.
Tsingtao Brewery Co (OTCPK:TSGTY) 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.
Tsingtao Brewery Co ROC (Joel Greenblatt) % Related Terms
Tsingtao Brewery Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Tsingtao Brewery 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.
TSGTY vs BUD, STZ: ROC (Joel Greenblatt) % Comparison
For the Beverages - Brewers subindustry, Tsingtao Brewery 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.
Tsingtao Brewery Co ROC (Joel Greenblatt) % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Tsingtao Brewery Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tsingtao Brewery Co's ROC (Joel Greenblatt) % falls into.
Tsingtao Brewery 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 72.67% mean?
Tsingtao Brewery Co (TSGTY) has a ROC (Joel Greenblatt) % of 72.67% 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 Tsingtao Brewery Co and its competitors. This is 102% above median its historical median of 35.91. Over the past decade, Tsingtao Brewery Co's ROC (Joel Greenblatt) % has ranged from 18.53 to 49.29. According to the industry distribution chart, Tsingtao Brewery Co ranks #28 out of 212 companies in the Beverages - Alcoholic industry, placing it in the top 13.2%.
Is Tsingtao Brewery Co's ROC (Joel Greenblatt) % too high?
Tsingtao Brewery Co's current ROC (Joel Greenblatt) % of 72.67% is 102% above median its 10-year median of 35.91. Over the past 10 years, this metric has ranged from a low of 18.53 to a high of 49.29. The Beverages - Alcoholic industry median ROC (Joel Greenblatt) % is 11.83. Tsingtao Brewery Co's value of 72.67% is 514.5% above this industry median. Based on the distribution chart, Tsingtao Brewery Co ranks #28 out of 212 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, Tsingtao Brewery Co has a GF Score™ of 86/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tsingtao Brewery Co's ROC (Joel Greenblatt) % compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Tsingtao Brewery Co ranks #28 out of 212 companies for ROC (Joel Greenblatt) %. This places Tsingtao Brewery Co in the top 13% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.83. Tsingtao Brewery Co's value of 72.67% is 514.5% above this benchmark. Historically, Tsingtao Brewery Co's own ROC (Joel Greenblatt) % has ranged from 18.53 to 49.29 over the past decade. While the company's 10-year median is 35.91 vs. the industry median of 11.83, Tsingtao Brewery 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 Beverages - Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Alcoholic companies is 11.83, based on 212 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. Tsingtao Brewery Co's current ROC (Joel Greenblatt) % of 72.67% is 514.5% 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 Tsingtao Brewery Co and its competitors. For the Beverages - Alcoholic industry, the median ROC (Joel Greenblatt) % is 11.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tsingtao Brewery Co's current ROC (Joel Greenblatt) % is 72.67%, which is 102% above median its own 10-year median of 35.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsingtao Brewery Co stock overvalued right now?
Based on GuruFocus' analysis, Tsingtao Brewery Co (TSGTY) is currently considered Significantly Undervalued. The stock's GF Value™ is $38.76, compared to a current price of $27.09 — trading 30.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 72.67%, which is 102% above median its 10-year median of 35.91 and 514.5% above the Beverages - Alcoholic industry median of 11.83. Tsingtao Brewery Co's overall GF Score™ is 86/100 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 Tsingtao Brewery Co (TSGTY), the current ROC (Joel Greenblatt) % is 72.67% 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 Tsingtao Brewery Co (TSGTY) Overvalued in 2026?
Based on GuruFocus' analysis, Tsingtao Brewery Co stock appears to be undervalued.
The current stock price of $27.09 is trading 30.1% below its estimated GF Value™ of $38.76.
GuruFocus considers Tsingtao Brewery Co to be Significantly Undervalued.
Key valuation signals for TSGTY:
ROC (Joel Greenblatt) %: 72.67% (102% above median its 10-year median of 35.91)
GF Value™: $38.76 vs. price of $27.09 (30.1% below fair value)
Industry Position: 514.5% above the Beverages - Alcoholic median (#28 of 212)
No single metric tells the full story. See the TSGTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
With over 100 years of history, Tsingtao Brewery has become one of the leading brewers in China with its core Tsingtao brand. The company commands a dominant position in its core market, Shandong province, which contributed close to 60% of its revenue and net profit in 2024. Unlike other major brewers, Tsingtao Brewery's brand umbrellas consist entirely of domestic brands. The Tsingtao brand has a mid-range to high-end market positioning and contributed over half of its volume whereas the mass market Laoshan brand targets the mainstream segment, with a declining volume mix as the company sought to premiumize its portfolio.
86GF Score
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