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White Horse BhdXKLS:5009 31 ROC (Joel Greenblatt) % is -5.82% as of Mar. 2026. GuruFocus rates XKLS:5009 with a GF Score™ of 31/100 and a GF Value™ of RM0.59 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 409 Building Materials companies, White Horse Bhd ranks worse than 78.24% 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. White Horse Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -5.82%.
The historical rank and industry rank for White Horse Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:5009'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -7.78 Med: -0.46 Max: 6.7
Current: -0.1
During the past 13 years, White Horse Bhd's highest ROC (Joel Greenblatt) % was 6.70%. The lowest was -7.78%. And the median was -0.46%.
XKLS:5009's ROC (Joel Greenblatt) % is ranked worse than 78.24% of 409
companies
in the Building Materials industry
Industry Median: 8.57
vs XKLS:5009: -0.10
White Horse Bhd's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
White Horse Bhd (XKLS:5009) 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.
White Horse Bhd ROC (Joel Greenblatt) % Related Terms
White Horse Bhd ROC (Joel Greenblatt) % Historical Data
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The historical data trend for White Horse 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.
XKLS:5009 vs CRH, VMC, MLM: ROC (Joel Greenblatt) % Comparison
For the Building Materials subindustry, White Horse 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.
White Horse Bhd ROC (Joel Greenblatt) % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, White Horse Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where White Horse Bhd's ROC (Joel Greenblatt) % falls into.
White Horse 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 -5.82% mean?
White Horse Bhd (XKLS:5009) has a ROC (Joel Greenblatt) % of -5.82% 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 White Horse Bhd and its competitors. According to the industry distribution chart, White Horse Bhd ranks #320 out of 409 companies in the Building Materials industry, placing it in the top 78.2%.
Is White Horse Bhd's ROC (Joel Greenblatt) % too high?
White Horse Bhd's current ROC (Joel Greenblatt) % is -5.82%. Based on the distribution chart, White Horse Bhd ranks #320 out of 409 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, White Horse Bhd has a GF Score™ of 31/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does White Horse Bhd's ROC (Joel Greenblatt) % compare to CRH and VMC?
According to the Building Materials industry distribution chart, White Horse Bhd ranks #320 out of 409 companies for ROC (Joel Greenblatt) %. This places White Horse Bhd in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.57. 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 Building Materials company?
The median ROC (Joel Greenblatt) % among Building Materials companies is 8.57, based on 409 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. 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 White Horse Bhd and its competitors. For the Building Materials industry, the median ROC (Joel Greenblatt) % is 8.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. White Horse Bhd's current ROC (Joel Greenblatt) % is -5.82%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is White Horse Bhd stock overvalued right now?
Based on GuruFocus' analysis, White Horse Bhd (XKLS:5009) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.59, compared to a current price of RM0.47 — trading 20.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is -5.82%. White Horse Bhd's overall GF Score™ is 31/100 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 White Horse Bhd (XKLS:5009), the current ROC (Joel Greenblatt) % is -5.82% 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 White Horse Bhd (XKLS:5009) Overvalued in 2026?
Based on GuruFocus' analysis, White Horse Bhd stock appears to be undervalued.
The current stock price of RM0.47 is trading 20.3% below its estimated GF Value™ of RM0.59.
GuruFocus considers White Horse Bhd to be Modestly Undervalued.
Key valuation signals for XKLS:5009:
ROC (Joel Greenblatt) %: -5.82%
GF Value™: RM0.59 vs. price of RM0.47 (20.3% below fair value)
No single metric tells the full story. See the XKLS:5009 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
White Horse Bhd. is an investment holding company, which is engaged in the manufacturing of ceramic wall, floor tiles and the provision of management services. Its segments include Malaysia, Vietnam, and Others. The Malaysia segment includes the manufacturing and distribution of ceramic homogenous tiles in Malaysia. The Vietnam segment includes the manufacturing and distribution of ceramic homogenous tiles in Vietnam. The other segments include the distribution of ceramic homogenous tiles in Indonesia, the Philippine, Singapore, and Thailand, and China. The product portfolio of the group consists of ceramic wall tiles, ceramic floor tiles and porcelain tiles. It generates the majority of revenue from the Malaysian segment.
31GF Score
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