Cash America International (Cash America International) ROC (Joel Greenblatt) % : 8.26% (As of Jun. 2016)

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What is Cash America International ROC (Joel Greenblatt) %?

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. Cash America International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was 8.26%.

The historical rank and industry rank for Cash America International's ROC (Joel Greenblatt) % or its related term are showing as below:

CSH's ROC (Joel Greenblatt) % is not ranked ^*
in the Credit Services industry.
Industry Median: 37.66
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

Cash America International's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

Cash America International ROC (Joel Greenblatt) % Historical Data

The historical data trend for Cash America International'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.

* Premium members only.

Cash America International ROC (Joel Greenblatt) % Chart

Cash America International Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

ROC (Joel Greenblatt) %

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76.02

31.19

24.63

6.09

17.51

Cash America International Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															8.41	14.16	26.92	23.86	8.26

Competitive Comparison of Cash America International's ROC (Joel Greenblatt) %

For the Credit Services subindustry, Cash America International'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.

Cash America International's ROC (Joel Greenblatt) % Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Cash America International's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Cash America International's ROC (Joel Greenblatt) % falls into.

Cash America International 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:

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: Mar. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	223.66	+	21.828)	-	(64.078	+	21.555	+	-1.4210854715202E-14)
=	159.855

	Working Capital		(Q: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	218.262	+	23.082)	-	(62.349	+	21.613	+	1.4210854715202E-14)
=	157.382

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Cash America International for the quarter that ended in Jun. 2016 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2016		Q: Jun. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	26.316	/	( ( (164.245 + max(159.855, 0))	+	(155.779 + max(157.382, 0)) )	/	2 )
=	26.316	/	( ( 324.1	+	313.161 )	/	2 )
=	26.316	/	318.6305
=	8.26 %

Note: The EBIT data used here is four times the quarterly (Jun. 2016) EBIT data.

Cash America International (NYSE:CSH) 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.

Cash America International ROC (Joel Greenblatt) % Related Terms

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Cash America International (Cash America International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Cash America International Inc (NYSE:CSH) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.cashamerica.com

Cash America International Inc was incorporated in 1984. The Company and its subsidiaries provide specialty financial services to individuals through retail services locations and e-commerce activities. It has two reportable segments: retail services and e-commerce. The retail services segment includes all of the operations of the Company's Retail Services Division, which is composed of both domestic and foreign storefront locations that offer some or all of the following services: pawn lending, consumer loans, check cashing and other ancillary services such as money orders, wire transfers and pre-paid debit cards. (Its ancillary services are provided through third-party vendors.) The e-commerce segment includes the operations of the Company's E-Commerce Division, which is composed of the Company's domestic and foreign online lending channels and the Company's MLOC channel. It offers short-term cash advances exclusively over the internet under the name CashNetUSA in the United States, under the name QuickQuid in the United Kingdom and under the name DollarsDirect in Australia and Canada. The Company operates its locations under the trade names Cash America Pawn, Cash America Payday Advance, Cashland, Mr. Payroll, SuperPawn, CashNetUSA QuickQuid, DollarsDirect and Prenda Facil. The Company's marks Cash America, Cashland, SuperPawn, CashNetUSA and Mr. Payroll are registered with the United States Patent and Trademark Office. The mark Prenda Facil is registered with the Mexican Industrial Property Institute. The principal competitors for its e-commerce segment in the United States include Miami Nation Enterprises, Integrity Advance, Think Finance and certain offshore lenders. In the United Kingdom, the Company believes that its principal online competitors include PaydayUK, PaydayExpress, Wonga and Lending Stream. In Australia, the Company believes its main online competitors are Nimble, Cash Converters and First Stop Money. In Canada, the industry has been dominated by storefront lenders and as a result, the Company's principal competitors are not online lenders but storefront lenders, such as Money Mart, The Cash Store and Cash Money. The Company's operations are subject to regulation, supervision and licensing under various federal, state and local statutes, ordinances and regulations.

Executives

James H Graves	director	ERWIN GRAVES & ASSOCIATES, 2100 MCKINNEY AVE STE 900, DALLAS TX 75205
Daniel E Berce	director	801 CHERRY STREET, SUITE 3900, C/O GM FINANCIAL COMPANY, INC., FORT WORTH TX 76102
Daniel R Feehan	director	CASH AMERICA INTL INC, 1600 W &TH ST, FORT WORTH TX 76102
Thomas Brent Stuart	director, officer: President and CEO	1600 W. 7TH STREET, FORT WORTH TX 76102
B D Hunter	director
Timothy S Ho	officer: President - E-Commerce Div.	C/O ONEMAIN HOLDINGS, INC., 601 N.W. SECOND STREET, EVANSVILLE IN 47708
David Fisher	officer: CEO of E-Commerce Division	39 SOUTH LASALLE STREET, SUITE 220, CHICAGO IL 60605
Morris Clifton H Jr	director	C/O AMERICREDIT CORP, 801 CHERRY ST, FORT WORTH TX 76102