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Inland Real Estate (Inland Real Estate) ROC (Joel Greenblatt) % : 2.46% (As of Dec. 2015)


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What is Inland Real Estate 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. Inland Real Estate's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2015 was 2.46%.

The historical rank and industry rank for Inland Real Estate's ROC (Joel Greenblatt) % or its related term are showing as below:

IRC's ROC (Joel Greenblatt) % is not ranked *
in the REITs industry.
Industry Median: 114.29
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

Inland Real Estate's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


Inland Real Estate ROC (Joel Greenblatt) % Historical Data

The historical data trend for Inland Real Estate'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.

Inland Real Estate ROC (Joel Greenblatt) % Chart

Inland Real Estate Annual Data
Trend Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.08 6.64 11.42 5.50 3.88

Inland Real Estate Quarterly Data
Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.49 2.38 4.41 6.13 2.46

Competitive Comparison of Inland Real Estate's ROC (Joel Greenblatt) %

For the REIT - Retail subindustry, Inland Real Estate'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.


Inland Real Estate's ROC (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Inland Real Estate's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Inland Real Estate's ROC (Joel Greenblatt) % falls into.



Inland Real Estate 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: Sep. 2015 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(35.348 + 0 + 1.4210854715202E-14) - (59.315 + 0 + 0)
=-23.967

Working Capital(Q: Dec. 2015 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(36.195 + 0 + 0) - (69.154 + 0 + 0)
=-32.959

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Inland Real Estate for the quarter that ended in Dec. 2015 can be restated as:

ROC (Joel Greenblatt) %(Q: Dec. 2015 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2015  Q: Dec. 2015
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=29.02/( ( (1180.457 + max(-23.967, 0)) + (1180.303 + max(-32.959, 0)) )/ 2 )
=29.02/( ( 1180.457 + 1180.303 )/ 2 )
=29.02/1180.38
=2.46 %

Note: The EBIT data used here is four times the quarterly (Dec. 2015) 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.


Inland Real Estate  (NYSE:IRC) 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.


Inland Real Estate ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Inland Real Estate's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Inland Real Estate (Inland Real Estate) Business Description

Traded in Other Exchanges
N/A
Address
Inland Real Estate Corp was formed on May 12, 1994. It is a publicly held real estate investment trust ("REIT") that owns, operates and develops open-air neighborhood, community and power shopping centers and single-tenant retail properties located in Midwest markets. Approximately fifty-nine percent of its total retail portfolio gross leasable area is located in the Chicago Metropolitan Statistical Area, with its second largest market concentration being approximately seventeen percent in the Minneapolis-St. Paul MSA. Tenants at the Company's retail properties primarily provide "everyday" goods and services to consumers. The primary drivers of its internal income growth are rental rate increases over expiring rates on new and renewal leases and cost savings from operational efficiencies. The Company's business is competitive. It competes with other property owners on the basis of location, rental rates, operating expenses, visibility, quality of the property, volume of traffic, strength and name recognition of other tenants at each location and other factors. These competitive factors affect the level of occupancy and rental rates that it is able to achieve at its investment properties. In addition, the Company's tenants compete against other forms of retailing such as catalog companies and e-commerce websites that offer similar retail products. The Company competes with other real estate companies, and at its current investment properties, it competes with other owners of similar properties for tenants. Inland Real Estate's properties are also subject to various federal, state and local regulatory requirements, such as state and local fire and life safety requirements.
Executives
Brett A Brown officer: Chief Financial Officer C/O INLAND REAL ESTATE CORPORATION, 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Meredith W. Mendes director 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Beth Sprecher Brooks officer: Sr VP & General Counsel C/O INLAND REAL ESTATE CORPORATION, 2901 BUTTERFIELD RD, OAK BROOK IL 60523
D Arcy Thomas P director C/O INLAND REAL ESTATE CORPORATION, 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Thomas R Mcwilliams director C/O INLAND REAL ESTATE CORPORATION, 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Mark E Zalatoris director, officer: Chief Executive Officer 2901 BUTTERFIELD RD, OAK BROOK IL 60523
D Scott Carr officer: Chief Investment Officer C/O INLAND REAL ESTATE CORP, 2901 BUFTTERFIELD ROAD, OAK BROOK IL 60523
William W Anderson officer: Senior Vice President C/O INLAND REAL ESTATE CORP, 2901 BUFTTERFIELD ROAD, OAK BROOK IL 60523
Joel D Simmon director C/O INLAND REAL ESTATE CORP, 2901 BUFTTERFIELD ROAD, OAK BROOK IL 60523
Heidi N Lawton director C/O INLAND REAL ESTATE CORP, 2901 BUFTTERFIELD ROAD, OAK BROOK IL 60523
Joel G Herter director C/O INLAND REAL ESTATE CORP, 2901 BUFTTERFIELD ROAD, OAK BROOK IL 60523
Daniel L Goodwin director, 10 percent owner 2901 BUTTERFIELD RD, OAK BROOK IL 60523
Thomas H Mcauley director 3095 BRANDY STATION, ATLANTA GA 30339-4425
Inland Group Inc director, 10 percent owner 2901 BUTTERFIELD, OAK BROOK IL 60523
Inland Real Estate Investment Corp 10 percent owner 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523

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