Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
AYER Holdings BhdXKLS:2305 81 ROC (Joel Greenblatt) % is 32.11% as of Mar. 2026, which is 198% above its 10-year median of 10.78. GuruFocus rates XKLS:2305 with a GF Score™ of 81/100 and a GF Value™ of RM11.56 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 1,749 Real Estate companies, AYER Holdings Bhd ranks better than 68.67% 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. AYER Holdings Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 32.11%.
The historical rank and industry rank for AYER Holdings Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:2305'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.7 Med: 10.78 Max: 41.71
Current: 41.71
During the past 13 years, AYER Holdings Bhd's highest ROC (Joel Greenblatt) % was 41.71%. The lowest was 2.70%. And the median was 10.78%.
XKLS:2305's ROC (Joel Greenblatt) % is ranked better than 68.67% of 1749
companies
in the Real Estate industry
Industry Median: 12.88
vs XKLS:2305: 41.71
AYER Holdings Bhd's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 39.10% per year.
AYER Holdings Bhd (XKLS:2305) 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.
AYER Holdings Bhd ROC (Joel Greenblatt) % Related Terms
AYER Holdings Bhd ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for AYER Holdings Bhd'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.
AYER Holdings Bhd ROC (Joel Greenblatt) % Competitor Comparison
For the Real Estate - Development subindustry, AYER 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.
AYER Holdings Bhd ROC (Joel Greenblatt) % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, AYER Holdings Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where AYER Holdings Bhd's ROC (Joel Greenblatt) % falls into.
AYER 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 32.11% mean?
AYER Holdings Bhd (XKLS:2305) has a ROC (Joel Greenblatt) % of 32.11% 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 AYER Holdings Bhd and its competitors. This is 198% above median its historical median of 10.78. Over the past decade, AYER Holdings Bhd's ROC (Joel Greenblatt) % has ranged from 2.70 to 41.71. According to the industry distribution chart, AYER Holdings Bhd ranks #548 out of 1749 companies in the Real Estate industry, placing it in the top 31.3%.
Is AYER Holdings Bhd's ROC (Joel Greenblatt) % too high?
AYER Holdings Bhd's current ROC (Joel Greenblatt) % of 32.11% is 198% above median its 10-year median of 10.78. Over the past 10 years, this metric has ranged from a low of 2.70 to a high of 41.71. The Real Estate industry median ROC (Joel Greenblatt) % is 12.88. AYER Holdings Bhd's value of 32.11% is 149.3% above this industry median. Based on the distribution chart, AYER Holdings Bhd ranks #548 out of 1749 companies in the Real Estate industry, which is above the industry midpoint. Overall, AYER Holdings Bhd has a GF Score™ of 81/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does AYER Holdings Bhd's ROC (Joel Greenblatt) % compare to competitors?
According to the Real Estate industry distribution chart, AYER Holdings Bhd ranks #548 out of 1749 companies for ROC (Joel Greenblatt) %. This puts AYER Holdings Bhd in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.88. AYER Holdings Bhd's value of 32.11% is 149.3% above this benchmark. Historically, AYER Holdings Bhd's own ROC (Joel Greenblatt) % has ranged from 2.70 to 41.71 over the past decade. While the company's 10-year median is 10.78 vs. the industry median of 12.88, AYER 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 Real Estate company?
The median ROC (Joel Greenblatt) % among Real Estate companies is 12.88, based on 1,749 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. AYER Holdings Bhd's current ROC (Joel Greenblatt) % of 32.11% is 149.3% 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 AYER Holdings Bhd and its competitors. For the Real Estate industry, the median ROC (Joel Greenblatt) % is 12.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AYER Holdings Bhd's current ROC (Joel Greenblatt) % is 32.11%, which is 198% above median its own 10-year median of 10.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AYER Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, AYER Holdings Bhd (XKLS:2305) is currently considered Possible Value Trap. The stock's GF Value™ is RM11.56, compared to a current price of RM7.30 — trading 36.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 32.11%, which is 198% above median its 10-year median of 10.78 and 149.3% above the Real Estate industry median of 12.88. AYER Holdings Bhd's overall GF Score™ is 81/100 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 AYER Holdings Bhd (XKLS:2305), the current ROC (Joel Greenblatt) % is 32.11% 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 AYER Holdings Bhd (XKLS:2305) Overvalued in 2026?
Based on GuruFocus' analysis, AYER Holdings Bhd stock appears to be undervalued.
The current stock price of RM7.30 is trading 36.9% below its estimated GF Value™ of RM11.56.
GuruFocus considers AYER Holdings Bhd to be Possible Value Trap.
Key valuation signals for XKLS:2305:
ROC (Joel Greenblatt) %: 32.11% (198% above median its 10-year median of 10.78)
GF Value™: RM11.56 vs. price of RM7.30 (36.9% below fair value)
Industry Position: 149.3% above the Real Estate median (#548 of 1749)
No single metric tells the full story. See the XKLS:2305 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AYER Holdings Bhd is an investment holding company. The principal activities of the company and its subsidiaries are categorized into two segments, namely Property Development, Plantation, and Others. Its Property development segment is engaged in developing residential and commercial properties. Its Plantation segment is involved in cultivating oil palm and durian. Other segments include investments, management services and others. The majority of revenue is earned from the Property development segment.
81GF Score
Get the complete analysis for XKLS:2305
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKLS:2305 has been successfully added to your 
