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Fraser & Neave Holdings BhdXKLS:3689 +0.62%85 ROC (Joel Greenblatt) % is 17.96% as of Mar. 2026, which is 32% below its 10-year median of 26.40. GuruFocus rates XKLS:3689 with a GF Score™ of 85/100 and a GF Value™ of RM28.17 (Fairly Valued). The stock has 3 warning signs investors should review. Among 117 Beverages - Non-Alcoholic companies, Fraser & Neave Holdings Bhd ranks worse than 51.28% 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. Fraser & Neave Holdings Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.96%.
The historical rank and industry rank for Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:3689'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 20 Med: 26.4 Max: 34.66
Current: 20
During the past 13 years, Fraser & Neave Holdings Bhd's highest ROC (Joel Greenblatt) % was 34.66%. The lowest was 20.00%. And the median was 26.40%.
XKLS:3689's ROC (Joel Greenblatt) % is ranked worse than 51.28% of 117
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 20.27
vs XKLS:3689: 20.00
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.
Fraser & Neave Holdings Bhd ROC (Joel Greenblatt) % Chart
XKLS:3689 vs KO, PEP, MNST: ROC (Joel Greenblatt) % Comparison
For the Beverages - Non-Alcoholic subindustry, Fraser & Neave 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.
Fraser & Neave Holdings Bhd ROC (Joel Greenblatt) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % falls into.
Fraser & Neave 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 17.96% mean?
Fraser & Neave Holdings Bhd (XKLS:3689) has a ROC (Joel Greenblatt) % of 17.96% 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 Fraser & Neave Holdings Bhd and its competitors. This is 32% below median its historical median of 26.40. Over the past decade, Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % has ranged from 20.00 to 34.66. According to the industry distribution chart, Fraser & Neave Holdings Bhd ranks #60 out of 117 companies in the Beverages - Non-Alcoholic industry, placing it in the top 51.3%.
Is Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % too high?
Fraser & Neave Holdings Bhd's current ROC (Joel Greenblatt) % of 17.96% is 32% below median its 10-year median of 26.40. Over the past 10 years, this metric has ranged from a low of 20.00 to a high of 34.66. The Beverages - Non-Alcoholic industry median ROC (Joel Greenblatt) % is 20.27. Fraser & Neave Holdings Bhd's value of 17.96% is 11.4% below this industry median. Based on the distribution chart, Fraser & Neave Holdings Bhd ranks #60 out of 117 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Fraser & Neave Holdings Bhd has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fraser & Neave Holdings Bhd's ROC (Joel Greenblatt) % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Fraser & Neave Holdings Bhd ranks #60 out of 117 companies for ROC (Joel Greenblatt) %. This places Fraser & Neave Holdings Bhd in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 20.27. Fraser & Neave Holdings Bhd's value of 17.96% is 11.4% below this benchmark. Historically, Fraser & Neave Holdings Bhd's own ROC (Joel Greenblatt) % has ranged from 20.00 to 34.66 over the past decade. While the company's 10-year median is 26.40 vs. the industry median of 20.27, Fraser & Neave Holdings Bhd has consistently been below 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 Beverages - Non-Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Non-Alcoholic companies is 20.27, based on 117 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. Fraser & Neave Holdings Bhd's current ROC (Joel Greenblatt) % of 17.96% is 11.4% below 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 Fraser & Neave Holdings Bhd and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC (Joel Greenblatt) % is 20.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fraser & Neave Holdings Bhd's current ROC (Joel Greenblatt) % is 17.96%, which is 32% below median its own 10-year median of 26.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fraser & Neave Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Fraser & Neave Holdings Bhd (XKLS:3689) is currently considered Fairly Valued. The stock's GF Value™ is RM28.17, compared to a current price of RM29.28 — trading 3.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 17.96%, which is 32% below median its 10-year median of 26.40 and 11.4% below the Beverages - Non-Alcoholic industry median of 20.27. Fraser & Neave Holdings Bhd's overall GF Score™ is 85/100 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 Fraser & Neave Holdings Bhd (XKLS:3689), the current ROC (Joel Greenblatt) % is 17.96% 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 Fraser & Neave Holdings Bhd (XKLS:3689) Overvalued in 2026?
Based on GuruFocus' analysis, Fraser & Neave Holdings Bhd stock appears to be overvalued.
The current stock price of RM29.28 is trading 3.9% above its estimated GF Value™ of RM28.17.
GuruFocus considers Fraser & Neave Holdings Bhd to be Fairly Valued.
Key valuation signals for XKLS:3689:
ROC (Joel Greenblatt) %: 17.96% (32% below median its 10-year median of 26.40)
GF Value™: RM28.17 vs. price of RM29.28 (3.9% above fair value)
Industry Position: 11.4% below the Beverages - Non-Alcoholic median (#60 of 117)
No single metric tells the full story. See the XKLS:3689 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fraser & Neave Holdings Bhd manufactures and sells canned milk, both condensed and evaporated and other dairy products and soft drinks. The company manufactures its products in Malaysia and Thailand and operates through four main segments: F&B Malaysia, which generates maximum revenue, F&B Thailand, Property, and Others. F&B Malaysia and F&B Thailand manufacture both soft drinks and dairies. Its core soft drink brands include 100PLUS, F&N Fun Flavours, F&N NutriSoy, F&N Seasons, F&N Ice Mountain, and others. Its dairy brands include Carnation, Magnolia, Teapot, Farmhouse, Gold Coin, and F&N Fruit Tree, among others. Geographically, the company derives a majority of its revenue from Southeast Asia and the rest from other regions.
85GF Score
Get the complete analysis for XKLS:3689
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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