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ITOCHUWBO:IOC +1.62%77 ROC (Joel Greenblatt) % is 28.62% as of Mar. 2026, which is 20% below its 10-year median of 35.88. GuruFocus rates WBO:IOC with a GF Score™ of 77/100 and a GF Value™ of €8.69 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 563 Conglomerates companies, ITOCHU ranks better than 73.89% 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. ITOCHU's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 28.62%.
The historical rank and industry rank for ITOCHU's ROC (Joel Greenblatt) % or its related term are showing as below:
WBO:IOC'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 18.92 Med: 35.88 Max: 41.09
Current: 34.45
During the past 13 years, ITOCHU's highest ROC (Joel Greenblatt) % was 41.09%. The lowest was 18.92%. And the median was 35.88%.
WBO:IOC's ROC (Joel Greenblatt) % is ranked better than 73.89% of 563
companies
in the Conglomerates industry
Industry Median: 14.68
vs WBO:IOC: 34.45
ITOCHU's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 7.70% per year.
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.
The historical data trend for ITOCHU'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.
WBO:IOC vs HON, MMM: ROC (Joel Greenblatt) % Comparison
For the Conglomerates subindustry, ITOCHU'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.
ITOCHU ROC (Joel Greenblatt) % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, ITOCHU's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ITOCHU's ROC (Joel Greenblatt) % falls into.
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 28.62% mean?
ITOCHU (WBO:IOC) has a ROC (Joel Greenblatt) % of 28.62% 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 ITOCHU and its competitors. This is 20% below median its historical median of 35.88. Over the past decade, ITOCHU's ROC (Joel Greenblatt) % has ranged from 18.92 to 41.09. According to the industry distribution chart, ITOCHU ranks #147 out of 563 companies in the Conglomerates industry, placing it in the top 26.1%.
Is ITOCHU's ROC (Joel Greenblatt) % too high?
ITOCHU's current ROC (Joel Greenblatt) % of 28.62% is 20% below median its 10-year median of 35.88. Over the past 10 years, this metric has ranged from a low of 18.92 to a high of 41.09. The Conglomerates industry median ROC (Joel Greenblatt) % is 14.68. ITOCHU's value of 28.62% is 95% above this industry median. Based on the distribution chart, ITOCHU ranks #147 out of 563 companies in the Conglomerates industry, which is above the industry midpoint. Overall, ITOCHU has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ITOCHU's ROC (Joel Greenblatt) % compare to HON and MMM?
According to the Conglomerates industry distribution chart, ITOCHU ranks #147 out of 563 companies for ROC (Joel Greenblatt) %. This puts ITOCHU in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 14.68. ITOCHU's value of 28.62% is 95% above this benchmark. Historically, ITOCHU's own ROC (Joel Greenblatt) % has ranged from 18.92 to 41.09 over the past decade. While the company's 10-year median is 35.88 vs. the industry median of 14.68, ITOCHU 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 Conglomerates company?
The median ROC (Joel Greenblatt) % among Conglomerates companies is 14.68, based on 563 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. ITOCHU's current ROC (Joel Greenblatt) % of 28.62% is 95% 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 ITOCHU and its competitors. For the Conglomerates industry, the median ROC (Joel Greenblatt) % is 14.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ITOCHU's current ROC (Joel Greenblatt) % is 28.62%, which is 20% below median its own 10-year median of 35.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ITOCHU stock overvalued right now?
Based on GuruFocus' analysis, ITOCHU (WBO:IOC) is currently considered Modestly Overvalued. The stock's GF Value™ is €8.69, compared to a current price of €10.34 — trading 19% above its estimated fair value. The current ROC (Joel Greenblatt) % is 28.62%, which is 20% below median its 10-year median of 35.88 and 95% above the Conglomerates industry median of 14.68. ITOCHU's overall GF Score™ is 77/100 with 4 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 ITOCHU (WBO:IOC), the current ROC (Joel Greenblatt) % is 28.62% 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 ITOCHU (WBO:IOC) Overvalued in 2026?
Based on GuruFocus' analysis, ITOCHU stock appears to be overvalued.
The current stock price of €10.34 is trading 19% above its estimated GF Value™ of €8.69.
GuruFocus considers ITOCHU to be Modestly Overvalued.
Key valuation signals for WBO:IOC:
ROC (Joel Greenblatt) %: 28.62% (20% below median its 10-year median of 35.88)
GF Value™: €8.69 vs. price of €10.34 (19% above fair value)
Industry Position: 95% above the Conglomerates median (#147 of 563)
No single metric tells the full story. See the WBO:IOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Itochu is a general trading house, or sogo shosha, a conglomerate type unique to Japan. The primary driver for sogo shoshas is trading and intermediation between businesses and leveraging their wide domestic and global information and contact networks to extract value. Itochu has historical roots as a textile trader, but over the years has expanded its portfolio from upstream minerals production, to midstream industrial machinery, food processing, and information and communication technology, and all the way to downstream textiles, convenience stores (Family Mart) and realty. Among the Big Five sogo shoshas, Itochu has the highest exposure to the nonresources businesses, and to the domestic business. It continues to skew its future investments toward the downstream and consumer businesses.
77GF Score
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