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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. Southern Steel Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was -8.22%.
The historical rank and industry rank for Southern Steel Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:5665'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.9 Med: -4.66 Max: 15.28
Current: -5.27
During the past 13 years, Southern Steel Bhd's highest ROC (Joel Greenblatt) % was 15.28%. The lowest was -10.90%. And the median was -4.66%.
XKLS:5665's ROC (Joel Greenblatt) % is ranked worse than 84.81% of 632
companies
in the Steel industry
Industry Median: 7.095
vs XKLS:5665: -5.27
Southern Steel Bhd's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Southern Steel Bhd (XKLS:5665) 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.
Southern Steel Bhd ROC (Joel Greenblatt) % Related Terms
Southern Steel Bhd ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Southern Steel 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:5665 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Southern Steel 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.
Southern Steel Bhd ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Southern Steel Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Southern Steel Bhd's ROC (Joel Greenblatt) % falls into.
Southern Steel 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 (Sep. 2025) 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 -8.22% mean?
Southern Steel Bhd (XKLS:5665) has a ROC (Joel Greenblatt) % of -8.22% as of Sep. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Southern Steel Bhd and its competitors. According to the industry distribution chart, Southern Steel Bhd ranks #536 out of 632 companies in the Steel industry, placing it in the top 84.8%.
Is Southern Steel Bhd's ROC (Joel Greenblatt) % too high?
Southern Steel Bhd's current ROC (Joel Greenblatt) % is -8.22%. Based on the distribution chart, Southern Steel Bhd ranks #536 out of 632 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Southern Steel Bhd has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Southern Steel Bhd's ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Southern Steel Bhd ranks #536 out of 632 companies for ROC (Joel Greenblatt) %. This places Southern Steel Bhd in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 7.10. 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 Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.10, based on 632 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 Southern Steel Bhd and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Southern Steel Bhd's current ROC (Joel Greenblatt) % is -8.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southern Steel Bhd stock overvalued right now?
Based on GuruFocus' analysis, Southern Steel Bhd (XKLS:5665) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.26, compared to a current price of RM0.39 — trading 50% above its estimated fair value. The current ROC (Joel Greenblatt) % is -8.22%. Southern Steel Bhd's overall GF Score™ is 30/100 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 Southern Steel Bhd (XKLS:5665), the current ROC (Joel Greenblatt) % is -8.22% as of Sep. 2025. 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 Southern Steel Bhd (XKLS:5665) Overvalued in 2026?
Based on GuruFocus' analysis, Southern Steel Bhd stock appears to be overvalued.
The current stock price of RM0.39 is trading 50% above its estimated GF Value™ of RM0.26.
GuruFocus considers Southern Steel Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:5665:
ROC (Joel Greenblatt) %: -8.22%
GF Value™: RM0.26 vs. price of RM0.39 (50% above fair value)
No single metric tells the full story. See the XKLS:5665 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Southern Steel Bhd is an investment holding company involved in the manufacturing, sale and trading of steel bars and related products, while the principal activities of its subsidiaries include the manufacturing, sale and trading in billets, steel bars, wire rods, pre-stressed concrete strands, bars and wires, steel pipes, steel wires, and other related products, as well as rental of properties and investment holding. The company comprises the following reportable segments: Steel products, Investment holding and others and Hot rolled coil operation. The company derived the majority of revenue from the sale of its products: bars, wire rod, wire mesh, cut and bend and pre-stressed concrete wire.
30GF Score
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