Zhejiang Expressway CoZHEXF -2.73%51 ROC (Joel Greenblatt) % is 31.73% as of Dec. 2025, which is 81% below its 10-year median of 163.14. GuruFocus rates ZHEXF with a GF Score™ of 51/100 and a GF Value™ of $0.97 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,779 Construction companies, Zhejiang Expressway Co ranks better than 62.51% 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. Zhejiang Expressway Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 31.73%.
The historical rank and industry rank for Zhejiang Expressway Co's ROC (Joel Greenblatt) % or its related term are showing as below:
ZHEXF'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 29.81 Med: 163.14 Max: 182.33
Current: 29.81
During the past 13 years, Zhejiang Expressway Co's highest ROC (Joel Greenblatt) % was 182.33%. The lowest was 29.81%. And the median was 163.14%.
ZHEXF's ROC (Joel Greenblatt) % is ranked better than 62.51% of 1779
companies
in the Construction industry
Industry Median: 19.59
vs ZHEXF: 29.81
Zhejiang Expressway Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 1.90% per year.
Zhejiang Expressway Co (OTCPK:ZHEXF) 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.
Zhejiang Expressway Co ROC (Joel Greenblatt) % Related Terms
Zhejiang Expressway Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Zhejiang Expressway Co'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.
Zhejiang Expressway Co ROC (Joel Greenblatt) % Chart
Zhejiang Expressway Co ROC (Joel Greenblatt) % Competitor Comparison
For the Infrastructure Operations subindustry, Zhejiang Expressway Co'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.
Zhejiang Expressway Co ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Zhejiang Expressway Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Zhejiang Expressway Co's ROC (Joel Greenblatt) % falls into.
Zhejiang Expressway Co 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 (Dec. 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 31.73% mean?
Zhejiang Expressway Co (ZHEXF) has a ROC (Joel Greenblatt) % of 31.73% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Zhejiang Expressway Co and its competitors. This is 81% below median its historical median of 163.14. Over the past decade, Zhejiang Expressway Co's ROC (Joel Greenblatt) % has ranged from 29.81 to 182.33. According to the industry distribution chart, Zhejiang Expressway Co ranks #667 out of 1779 companies in the Construction industry, placing it in the top 37.5%.
Is Zhejiang Expressway Co's ROC (Joel Greenblatt) % too high?
Zhejiang Expressway Co's current ROC (Joel Greenblatt) % of 31.73% is 81% below median its 10-year median of 163.14. Over the past 10 years, this metric has ranged from a low of 29.81 to a high of 182.33. The Construction industry median ROC (Joel Greenblatt) % is 19.59. Zhejiang Expressway Co's value of 31.73% is 62% above this industry median. Based on the distribution chart, Zhejiang Expressway Co ranks #667 out of 1779 companies in the Construction industry, which is above the industry midpoint. Overall, Zhejiang Expressway Co has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zhejiang Expressway Co's ROC (Joel Greenblatt) % compare to competitors?
According to the Construction industry distribution chart, Zhejiang Expressway Co ranks #667 out of 1779 companies for ROC (Joel Greenblatt) %. This puts Zhejiang Expressway Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. Zhejiang Expressway Co's value of 31.73% is 62% above this benchmark. Historically, Zhejiang Expressway Co's own ROC (Joel Greenblatt) % has ranged from 29.81 to 182.33 over the past decade. While the company's 10-year median is 163.14 vs. the industry median of 19.59, Zhejiang Expressway Co 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 Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.59, based on 1,779 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. Zhejiang Expressway Co's current ROC (Joel Greenblatt) % of 31.73% is 62% 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 Zhejiang Expressway Co and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhejiang Expressway Co's current ROC (Joel Greenblatt) % is 31.73%, which is 81% below median its own 10-year median of 163.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhejiang Expressway Co stock overvalued right now?
Based on GuruFocus' analysis, Zhejiang Expressway Co (ZHEXF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.97, compared to a current price of $0.80 — trading 17.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 31.73%, which is 81% below median its 10-year median of 163.14 and 62% above the Construction industry median of 19.59. Zhejiang Expressway Co's overall GF Score™ is 51/100 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 Zhejiang Expressway Co (ZHEXF), the current ROC (Joel Greenblatt) % is 31.73% as of Dec. 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 Zhejiang Expressway Co (ZHEXF) Overvalued in 2026?
Based on GuruFocus' analysis, Zhejiang Expressway Co stock appears to be undervalued.
The current stock price of $0.80 is trading 17.7% below its estimated GF Value™ of $0.97.
GuruFocus considers Zhejiang Expressway Co to be Modestly Undervalued.
Key valuation signals for ZHEXF:
ROC (Joel Greenblatt) %: 31.73% (81% below median its 10-year median of 163.14)
GF Value™: $0.97 vs. price of $0.80 (17.7% below fair value)
Industry Position: 62% above the Construction median (#667 of 1779)
No single metric tells the full story. See the ZHEXF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zhejiang Expressway Co Ltd is a Chinese infrastructure company that, through its subsidiaries, develops, maintains, and operates high-grade roads. The company organizes itself into three segments: toll operation, securities business, and other business. The company derives the majority of revenue and earnings from the toll road business. The securities business, the next segment, provides brokerage services, including advisory, margin lending, and asset management. The company earns the entirety of its revenue domestically.
51GF Score
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