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. Television Broadcasts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 18.87%.
The historical rank and industry rank for Television Broadcasts's ROC (Joel Greenblatt) % or its related term are showing as below:
TVBCF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -31.73 Med: -6.27 Max: 17.2
Current: 6.2
During the past 13 years, Television Broadcasts's highest ROC (Joel Greenblatt) % was 17.20%. The lowest was -31.73%. And the median was -6.27%.
TVBCF's ROC (Joel Greenblatt) % is ranked worse than 53.24% of 1018
companies
in the Media - Diversified industry
Industry Median: 9.685
vs TVBCF: 6.20
Television Broadcasts's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Television Broadcasts (OTCPK:TVBCF) 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.
Television Broadcasts ROC (Joel Greenblatt) % Related Terms
Television Broadcasts ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Television Broadcasts'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.
Television Broadcasts ROC (Joel Greenblatt) % Chart
For the Broadcasting subindustry, Television Broadcasts'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.
Television Broadcasts ROC (Joel Greenblatt) % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Television Broadcasts's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Television Broadcasts's ROC (Joel Greenblatt) % falls into.
Television Broadcasts 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 (Dec. 2025) 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 18.87% mean?
Television Broadcasts (TVBCF) has a ROC (Joel Greenblatt) % of 18.87% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Television Broadcasts and its competitors. According to the industry distribution chart, Television Broadcasts ranks #542 out of 1018 companies in the Media - Diversified industry, placing it in the top 53.2%.
Is Television Broadcasts' ROC (Joel Greenblatt) % too high?
Television Broadcasts' current ROC (Joel Greenblatt) % is 18.87%. The Media - Diversified industry median ROC (Joel Greenblatt) % is 9.69. Television Broadcasts' value of 18.87% is 94.8% above this industry median. Based on the distribution chart, Television Broadcasts ranks #542 out of 1018 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Television Broadcasts has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Television Broadcasts' ROC (Joel Greenblatt) % compare to NXST?
According to the Media - Diversified industry distribution chart, Television Broadcasts ranks #542 out of 1018 companies for ROC (Joel Greenblatt) %. This places Television Broadcasts in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 9.69. Television Broadcasts' value of 18.87% is 94.8% above this benchmark. 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 Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 9.69, based on 1,018 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. Television Broadcasts's current ROC (Joel Greenblatt) % of 18.87% is 94.8% 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 Television Broadcasts and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 9.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Television Broadcasts's current ROC (Joel Greenblatt) % is 18.87%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Television Broadcasts stock overvalued right now?
Television Broadcasts (TVBCF) has a current ROC (Joel Greenblatt) % of 18.87%. The stock's GF Value™ is $0.51, compared to a current price of $0.39 — trading 23.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 18.87% and 94.8% above the Media - Diversified industry median of 9.69. Television Broadcasts' 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 Television Broadcasts (TVBCF), the current ROC (Joel Greenblatt) % is 18.87% as of Dec. 2025. 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 Television Broadcasts (TVBCF) Overvalued in 2026?
Based on GuruFocus' analysis, Television Broadcasts stock appears to be undervalued.
The current stock price of $0.39 is trading 23.5% below its estimated GF Value™ of $0.51.
Key valuation signals for TVBCF:
ROC (Joel Greenblatt) %: 18.87%
GF Value™: $0.51 vs. price of $0.39 (23.5% below fair value)
Industry Position: 94.8% above the Media - Diversified median (#542 of 1018)
No single metric tells the full story. See the TVBCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Television Broadcasts Ltd is a Hong Kong-based company whose activities involve terrestrial television broadcasting, together with program production and other television-related activities. Its operating segments include Hong Kong TV broadcasting, Digital Media, Chinese Mainland Operations, and International operations. The company derives a majority of its revenue from the Hong Kong TV broadcasting segment, involving the broadcasting of television programs, commercials on terrestrial TV platforms, production of programs, online social media platforms, music entertainment, events, and digital marketing. The group derives revenue from Hong Kong and other countries, with the prime revenue being derived from Hong Kong.
71GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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