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Ryder System (Ryder System) ROC (Joel Greenblatt) %

: 8.94% (As of Dec. 2023)
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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. Ryder System's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.94%.

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

R' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.26   Med: 6.43   Max: 14.8
Current: 8.86

During the past 13 years, Ryder System's highest ROC (Joel Greenblatt) % was 14.80%. The lowest was 1.26%. And the median was 6.43%.

R's ROC (Joel Greenblatt) % is ranked worse than
66.39% of 1068 companies
in the Business Services industry
Industry Median: 20.405 vs R: 8.86

Ryder System's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 33.60% per year.


Ryder System ROC (Joel Greenblatt) % Historical Data

The historical data trend for Ryder System'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.

Ryder System Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.87 1.26 9.49 14.80 8.73

Ryder System Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
ROC (Joel Greenblatt) % 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 Premium Member Only Premium Member Only Premium Member Only 14.75 11.08 4.69 10.77 8.94

Competitive Comparison

For the Rental & Leasing Services subindustry, Ryder System'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.


Ryder System ROC (Joel Greenblatt) % Distribution

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

* The bar in red indicates where Ryder System's ROC (Joel Greenblatt) % falls into.



Ryder System 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. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1434 + 75 + 231) - (1456 + 269 + 159)
=-144

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1505 + 0 + 347) - (1448 + 245 + 139)
=20

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Ryder System for the quarter that ended in Dec. 2023 can be restated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=976/( ( (10851 + max(-144, 0)) + (10957 + max(20, 0)) )/ 2 )
=976/( ( 10851 + 10977 )/ 2 )
=976/10914
=8.94 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) 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.


Ryder System  (NYSE:R) 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.


Ryder System ROC (Joel Greenblatt) % Related Terms

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


Ryder System (Ryder System) Business Description

Traded in Other Exchanges
N/A
Address
11690 N.W. 105th Street, Miami, FL, USA, 33178
Ryder System Inc operates in three business segments: (1) Fleet Management Solutions which provides full-service leasing and leasing with flexible maintenance options, commercial rental and maintenance services of trucks, tractors and trailers to customers; (2) Supply Chain Solutions (SCS), which provides integrated logistics solutions, including distribution management, dedicated transportation, transportation management, brokerage, e-commerce, last mile, and professional services; and (3) Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S., including dedicated vehicles, professional drivers, management, and administrative support.
Executives
Robert D Fatovic officer: EVP, CLO & Corp. Secretary 11690 N.W. 105TH STREET, MIAMI FL 33178
Thomas M. Havens officer: President, Global FMS 11690 N.W. 105TH STREET, MIAMI FL 33178
Karen M. Jones officer: EVP & Chief Marketing Officer 11690 N.W. 105TH STREET, MIAMI FL 33178
John S. Sensing officer: President, Global Supply Chain 11690 N.W. 105TH STREET, MIAMI FL 33178
Robert E Sanchez director, officer: Chair and CEO 11690 N.W. 105TH STREET, MIAMI FL 33178
John J. Diez officer: President, Ryder Dedicated 11690 N.W. 105TH STREET, MIAMI FL 33178
Francisco Jr. Lopez officer: SVP & Chief HR Officer 11690 N.W. 105TH STREET, MIAMI FL 33178
Nieto Luis P Jr director 11690 N.W. 105TH STREET, MIAMI FL 33178
E Follin Smith director C/O CONSTELLATION ENERGY GROUP INC, 250 W. PRATT ST., BALTIMORE MD 21201
Sanford J. Hodes officer: SVP, Chief Procurement Officer 11690 NW 105 STREET, MIAMI FL 33178
Rajeev Ravindran officer: SVP & CIO 11690 N.W. 105TH STREET, MIAMI FL 33178
Charles M Swoboda director C/O CREE, INC., 4600 SILICON DRIVE, DURHAM NC 27703
Cristina Gallo-aquino officer: SVP and Controller 11690 N.W. 105TH STREET, MIAMI FL 33178
Scott T Parker officer: EVP & CFO C/O RYDER SYSTEM, INC., 11690 N.W. 105TH STREET, MIAMI FL 33178
John J Gleason officer: EVP Chief Sales Officer 11690 N.W. 105TH STREET, MIAMI FL 33178