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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. Iconix Brand Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2021 was 1,451.48%.
The historical rank and industry rank for Iconix Brand Group's ROC (Joel Greenblatt) % or its related term are showing as below:
Iconix Brand Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The historical data trend for Iconix Brand Group'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.
Iconix Brand Group Annual Data | |||||||||||||||||||||
Trend | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | -90.78 | -217.73 | -67.68 | -496.79 | 798.43 |
Iconix Brand Group Quarterly Data | ||||||||||||||||||||
Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | |
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | -186.13 | 24.96 | 3,547.65 | -7.86 | 1,451.48 |
For the Apparel Manufacturing subindustry, Iconix Brand Group'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.
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Iconix Brand Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Iconix Brand Group's ROC (Joel Greenblatt) % falls into.
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:
ROC (Joel Greenblatt) % | = | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) |
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.
Working Capital | (Q: Dec. 2020 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (24.736 | + | 0 | + | 11.57) | - | (29.847 | + | 5.093 | + | 3.864) |
= | -2.498 |
Working Capital | (Q: Mar. 2021 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (17.26 | + | 0 | + | 15.759) | - | (26.956 | + | 4.705 | + | 2.728) |
= | -1.37 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Iconix Brand Group for the quarter that ended in Mar. 2021 can be restated as:
ROC (Joel Greenblatt) % | (Q: Mar. 2021 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Dec. 2020 | Q: Mar. 2021 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 95.42 | / | ( ( (6.863 + max(-2.498, 0)) | + | (6.285 + max(-1.37, 0)) ) | / | 2 ) |
= | 95.42 | / | ( ( 6.863 | + | 6.285 ) | / | 2 ) |
= | 95.42 | / | 6.574 | ||||
= | 1,451.48 % |
Note: The EBIT data used here is four times the quarterly (Mar. 2021) 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.
Iconix Brand Group (NAS:ICON) 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.
Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.
Thank you for viewing the detailed overview of Iconix Brand Group's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Robert Galvin | director, officer: President and CEO | 78 GOLF LANE, RIDGEFIELD CT 06877 |
John Mcclain | officer: EVP & CFO | C/O THE JONES GROUP INC., 1411 BROADWAY, NEW YORK NY 10018 |
Jeffrey Neil Wood | officer: Interim CFO | 50 HOMESTEAD RD GILLETTE NJ 07933 |
F Peter Cuneo | director, officer: Chairman and Interim CEO | 10 EAST 40TH ST, NEW YORK NY 10016 |
John N Haugh | director, officer: President and CEO | 3231 S E SIXTH AVENUE, TOPEKA KS 66607 |
David K. Jones | officer: EVP & CFO | 1375 BROADWAY, FLOOR 11, NEW YORK NY 10018 |
Jason Schaefer | officer: EVP and General Counsel | C O ICONIX BRAND GROUP INC 1450 BROADWAY 4TH FL NEW YORK NY 10018 |
Khosla Sanjay | director | THREE LAKES DRIVE, NORTHFIELD IL 60093 |
Kenneth Slutsky | director | 11400 W. OLYMPIC BOULEVARD SUITE 1400 LOS ANGELES CA 90064 |
Mark A Friedman | director | 595 NORTH STREET RYE NY 10580 |
Drew Cohen | director | C/O MUSIC THEATER INTERNATIONAL 421 WEST 54TH STREET NEW YORK NY 10019 |
James Marcum | director | 55 WENTWORTH COVE RD. LACONIA NH 03246 |
Sue Gove | director | 901 WEST WALNUT HILL LANE, MAIL STATION 6B-3, IRVING TX 75038 |
David Blumberg | officer: EVP - Chief Strategy Officer | C/O ICONIX BRAND GROUP, INC. 1450 BROADWAY, 4TH FLOOR NEW YORK NY 10018 |
Plc Barclays | 10 percent owner | 1 CHURCHILL PLACE, CANARY WHARF, LONDON X0 E14 5HP |
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