Team Health Holdings (Team Health Holdings) ROC (Joel Greenblatt) % : 92.46% (As of Sep. 2016)

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What is Team Health Holdings 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. Team Health Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2016 was 92.46%.

The historical rank and industry rank for Team Health Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:

TMH's ROC (Joel Greenblatt) % is not ranked ^*
in the Business Services industry.
Industry Median: 20.65
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

Team Health Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

Team Health Holdings ROC (Joel Greenblatt) % Historical Data

The historical data trend for Team Health Holdings'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.

Team Health Holdings ROC (Joel Greenblatt) % Chart

Team Health Holdings Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

ROC (Joel Greenblatt) %

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337.87

207.87

205.94

211.55

145.85

Team Health Holdings Quarterly Data
	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															129.42	108.86	87.72	113.02	92.46

Competitive Comparison of Team Health Holdings's ROC (Joel Greenblatt) %

For the Staffing & Employment Services subindustry, Team Health Holdings'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.

Team Health Holdings's ROC (Joel Greenblatt) % Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Team Health Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Team Health Holdings's ROC (Joel Greenblatt) % falls into.

Team Health Holdings 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: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(787.169	+	0	+	66.492)	-	(672.913	+	0	+	0)
=	180.748

	Working Capital		(Q: Sep. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(821.963	+	0	+	65.138)	-	(686.7	+	0	+	-2.2737367544323E-13)
=	200.401

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Team Health Holdings for the quarter that ended in Sep. 2016 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2016		Q: Sep. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	255.184	/	( ( (86.727 + max(180.748, 0))	+	(84.141 + max(200.401, 0)) )	/	2 )
=	255.184	/	( ( 267.475	+	284.542 )	/	2 )
=	255.184	/	276.0085
=	92.46 %

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

Team Health Holdings (NYSE:TMH) 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.

Team Health Holdings ROC (Joel Greenblatt) % Related Terms

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Team Health Holdings (Team Health Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Team Health Holdings Inc (NYSE:TMH) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.teamhealth.com

Team Health Holdings Inc was founded in 1979. It is the suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States, based upon revenues and patient visits. It serves approximately 3,400 civilian and military hospitals, clinics and physician groups in 47 states with a team of more than 18,000 affiliated healthcare professionals, including physicians, physician assistants, nurse practitioners and nurses. It recruits and contracts with healthcare professionals who then provide professional services within third-party healthcare facilities. It is a physician-founded organization with physician leadership throughout its business and since its inception in 1979; it provided outsourced services in hospital emergency departments, or EDs. It also provides comprehensive programs for hospital medicine, anesthesiology, pediatrics and other healthcare services, by providing permanent staffing that enables the management teams of hospitals and other healthcare facilities to outsource certain management, recruiting, hiring, payroll, billing and collection and benefits functions. The range of services that it provides to its clients include: recruiting, scheduling & credential coordination for clinical and non-clinical medical professionals; coding, billing & collection of fees for services provided by medical professionals; provision of experienced medical directors; administrative support services, such as payroll, professional liability insurance coverage, continuing medical education services & management training; risk & claims management services and standardized procedures. Healthcare facilities seek third-party physician staffing and administrative service providers that not only could improve department quality, productivity and patient satisfaction while reducing overall costs, but also offer a breadth of staffing and management services, billing & reimbursement expertise, a reputation for regulatory compliance, financial stability and a demonstrated ability to recruit & retain qualified physicians and technicians & nurses. It competes against local physician groups and self-operated hospital EDs. Its operations and relationships with healthcare providers such as hospitals are subject to increasing regulations by numerous federal, state and local governmental entities.

Executives

Jana Partners Llc	director	767 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10153
Scott Ostfeld	director	767 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10153
Kenneth H Paulus	director	5420 FELTL ROAD, MINNETONKA MN 55343
James L Bierman	director	9120 LOCKWOOD BOULEVARD, MECHANICSVILLE VA 23116
Glenn A. Davenport	director	TEAM HEALTH HOLDINGS, 1900 WINSTON ROAD, SUITE 300, KNOXVILLE TN 37919
Vicky B Gregg	director	1 CAMERON HILL CIRCLE, CHATTANOOGA TN 37402
Edwin M Crawford	director	3000 GALLERIA TOWER, STE 1000, BIRMINGHAM AL 35244
Michael D Snow	director, officer: President and CEO	23 MAYMONT WAY, THE WOODLANDS TX 77382
Joseph L Herring	director	210 CARNEGIE CENTER, PRINCETON NJ 08540
Greg Roth	other: Consultant	ONE PARK PLAZA, NASHVILLE TN 37203
Steven B Epstein	director
Blackstone Holdings Iii Gp Management L.l.c.	10 percent owner	C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154
Blackstone Holdings Iii Gp L.p.	10 percent owner	C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154
Blackstone Management Associates Iv Llc	10 percent owner	C/O THE BLACKSTONE GROUP, 345 PARK AVE, NEW YORK NY 10154
Blackstone Holdings Iii L.p.	10 percent owner	C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154

Team Health Holdings (Team Health Holdings) Headlines

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