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Ten Square GamesWAR:TEN +2.31%83 ROC (Joel Greenblatt) % is 676.14% as of Mar. 2026, which is 11% below its 10-year median of 761.93. GuruFocus rates WAR:TEN with a GF Score™ of 83/100 and a GF Value™ of zł85.55 (Fairly Valued). The stock has 5 warning signs investors should review. Among 549 Interactive Media companies, Ten Square Games ranks better than 92.17% 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. Ten Square Games's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 676.14%.
The historical rank and industry rank for Ten Square Games's ROC (Joel Greenblatt) % or its related term are showing as below:
WAR:TEN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 118.89 Med: 761.93 Max: 2786.14
Current: 702.01
During the past 9 years, Ten Square Games's highest ROC (Joel Greenblatt) % was 2786.14%. The lowest was 118.89%. And the median was 761.93%.
WAR:TEN's ROC (Joel Greenblatt) % is ranked better than 92.17% of 549
companies
in the Interactive Media industry
Industry Median: 16.47
vs WAR:TEN: 702.01
Ten Square Games's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -19.30% per year.
Ten Square Games (WAR:TEN) 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.
Ten Square Games ROC (Joel Greenblatt) % Related Terms
Ten Square Games ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Ten Square Games'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.
WAR:TEN vs NTES, EA, TTWO: ROC (Joel Greenblatt) % Comparison
For the Electronic Gaming & Multimedia subindustry, Ten Square Games'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.
Ten Square Games ROC (Joel Greenblatt) % vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Ten Square Games's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ten Square Games's ROC (Joel Greenblatt) % falls into.
Ten Square Games 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 676.14% mean?
Ten Square Games (WAR:TEN) has a ROC (Joel Greenblatt) % of 676.14% 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 Ten Square Games and its competitors. This is 11% below median its historical median of 761.93. Over the past decade, Ten Square Games' ROC (Joel Greenblatt) % has ranged from 118.89 to 2,786.14. According to the industry distribution chart, Ten Square Games ranks #43 out of 549 companies in the Interactive Media industry, placing it in the top 7.8%.
Is Ten Square Games' ROC (Joel Greenblatt) % too high?
Ten Square Games' current ROC (Joel Greenblatt) % of 676.14% is 11% below median its 10-year median of 761.93. Over the past 10 years, this metric has ranged from a low of 118.89 to a high of 2,786.14. The Interactive Media industry median ROC (Joel Greenblatt) % is 16.47. Ten Square Games' value of 676.14% is 4005.3% above this industry median. Based on the distribution chart, Ten Square Games ranks #43 out of 549 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, Ten Square Games has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ten Square Games' ROC (Joel Greenblatt) % compare to NTES and EA?
According to the Interactive Media industry distribution chart, Ten Square Games ranks #43 out of 549 companies for ROC (Joel Greenblatt) %. This places Ten Square Games in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 16.47. Ten Square Games' value of 676.14% is 4005.3% above this benchmark. Historically, Ten Square Games' own ROC (Joel Greenblatt) % has ranged from 118.89 to 2,786.14 over the past decade. While the company's 10-year median is 761.93 vs. the industry median of 16.47, Ten Square Games 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 Interactive Media company?
The median ROC (Joel Greenblatt) % among Interactive Media companies is 16.47, based on 549 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. Ten Square Games's current ROC (Joel Greenblatt) % of 676.14% is 4005.3% 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 Ten Square Games and its competitors. For the Interactive Media industry, the median ROC (Joel Greenblatt) % is 16.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ten Square Games's current ROC (Joel Greenblatt) % is 676.14%, which is 11% below median its own 10-year median of 761.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ten Square Games stock overvalued right now?
Based on GuruFocus' analysis, Ten Square Games (WAR:TEN) is currently considered Fairly Valued. The stock's GF Value™ is zł85.55, compared to a current price of zł93.00 — trading 8.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 676.14%, which is 11% below median its 10-year median of 761.93 and 4005.3% above the Interactive Media industry median of 16.47. Ten Square Games' overall GF Score™ is 83/100 with 5 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 Ten Square Games (WAR:TEN), the current ROC (Joel Greenblatt) % is 676.14% 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 Ten Square Games (WAR:TEN) Overvalued in 2026?
Based on GuruFocus' analysis, Ten Square Games stock appears to be overvalued.
The current stock price of zł93.00 is trading 8.7% above its estimated GF Value™ of zł85.55.
GuruFocus considers Ten Square Games to be Fairly Valued.
Key valuation signals for WAR:TEN:
ROC (Joel Greenblatt) %: 676.14% (11% below median its 10-year median of 761.93)
GF Value™: zł85.55 vs. price of zł93.00 (8.7% above fair value)
Industry Position: 4005.3% above the Interactive Media median (#43 of 549)
No single metric tells the full story. See the WAR:TEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ten Square Games SA is a developer of free-to-play mobile games with a focus on hobby genres, including fishing, hunting, and aviation. The company's portfolio includes popular titles such as Fishing Clash, Hunting Clash, Real Flight Simulator, Trophy Hunter, Let's Fish, and Wings of Heroes. The company's source of revenue includes micro-payments, subscriptions, advertisement, and licenses. The company generates the majority of its revenue from the micro-payments.
83GF Score
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