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Northern Solar Holdings BhdXKLS:0340 18 ROC (Joel Greenblatt) % is 44.54% as of Mar. 2026, which is 56% below its 10-year median of 100.25. GuruFocus rates XKLS:0340 with a GF Score™ of 18/100. The stock has 4 warning signs investors should review. Among 1,028 Semiconductors companies, Northern Solar Holdings Bhd ranks better than 88.13% 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. Northern Solar Holdings Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 44.54%.
The historical rank and industry rank for Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:0340'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 62.7 Med: 100.25 Max: 133.65
Current: 63.69
During the past 5 years, Northern Solar Holdings Bhd's highest ROC (Joel Greenblatt) % was 133.65%. The lowest was 62.70%. And the median was 100.25%.
XKLS:0340's ROC (Joel Greenblatt) % is ranked better than 88.13% of 1028
companies
in the Semiconductors industry
Industry Median: 8.265
vs XKLS:0340: 63.69
Northern Solar Holdings Bhd (XKLS:0340) 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.
* 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.
Northern Solar Holdings Bhd ROC (Joel Greenblatt) % Chart
XKLS:0340 vs FSLR, NXT, ENPH: ROC (Joel Greenblatt) % Comparison
For the Solar subindustry, Northern Solar Holdings Bhd'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.
Northern Solar Holdings Bhd ROC (Joel Greenblatt) % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % falls into.
Northern Solar Holdings Bhd 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 44.54% mean?
Northern Solar Holdings Bhd (XKLS:0340) has a ROC (Joel Greenblatt) % of 44.54% 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 Northern Solar Holdings Bhd and its competitors. This is 56% below median its historical median of 100.25. Over the past decade, Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % has ranged from 62.70 to 133.65. According to the industry distribution chart, Northern Solar Holdings Bhd ranks #122 out of 1028 companies in the Semiconductors industry, placing it in the top 11.9%.
Is Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % too high?
Northern Solar Holdings Bhd's current ROC (Joel Greenblatt) % of 44.54% is 56% below median its 10-year median of 100.25. Over the past 10 years, this metric has ranged from a low of 62.70 to a high of 133.65. The Semiconductors industry median ROC (Joel Greenblatt) % is 8.27. Northern Solar Holdings Bhd's value of 44.54% is 438.9% above this industry median. Based on the distribution chart, Northern Solar Holdings Bhd ranks #122 out of 1028 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Northern Solar Holdings Bhd has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Northern Solar Holdings Bhd's ROC (Joel Greenblatt) % compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Northern Solar Holdings Bhd ranks #122 out of 1028 companies for ROC (Joel Greenblatt) %. This places Northern Solar Holdings Bhd in the top 12% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.27. Northern Solar Holdings Bhd's value of 44.54% is 438.9% above this benchmark. Historically, Northern Solar Holdings Bhd's own ROC (Joel Greenblatt) % has ranged from 62.70 to 133.65 over the past decade. While the company's 10-year median is 100.25 vs. the industry median of 8.27, Northern Solar Holdings Bhd 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 Semiconductors company?
The median ROC (Joel Greenblatt) % among Semiconductors companies is 8.27, based on 1,028 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. Northern Solar Holdings Bhd's current ROC (Joel Greenblatt) % of 44.54% is 438.9% 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 Northern Solar Holdings Bhd and its competitors. For the Semiconductors industry, the median ROC (Joel Greenblatt) % is 8.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Solar Holdings Bhd's current ROC (Joel Greenblatt) % is 44.54%, which is 56% below median its own 10-year median of 100.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Solar Holdings Bhd stock overvalued right now?
Northern Solar Holdings Bhd (XKLS:0340) has a current ROC (Joel Greenblatt) % of 44.54%. The current ROC (Joel Greenblatt) % is 44.54%, which is 56% below median its 10-year median of 100.25 and 438.9% above the Semiconductors industry median of 8.27. Northern Solar Holdings Bhd's overall GF Score™ is 18/100 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 Northern Solar Holdings Bhd (XKLS:0340), the current ROC (Joel Greenblatt) % is 44.54% 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.
Northern Solar Holdings Bhd Group is principally involved in the EPCC of solar PV systems, Generation of renewable energy, and O&M of solar PV equipment and systems. Its EPCC of solar PV systems involves the provision of engineering design and planning, procurement and supply, construction, installation, testing, and commissioning of solar PV systems for commercial, industrial, and residential buildings. The Group owns, operates, and maintains rooftop solar PV systems that generate and sell electricity to NEM and SELCO consumers in Peninsular Malaysia. Its O&M of solar PV equipment and systems involves providing O&M services for solar PV equipment and systems installed in commercial, industrial, & residential buildings. The majority of revenue is derived from the EPCC of solar PV systems.
18GF Score
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