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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Ascent Capital Group's annualized return on invested capital (ROIC %) for the quarter that ended in Jun. 2019 was 4.55%.
As of today (2024-05-04), Ascent Capital Group's WACC % is 0.00%. Ascent Capital Group's ROIC % is 0.00% (calculated using TTM income statement data). Ascent Capital Group earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Ascent Capital Group's ROIC % 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.
Ascent Capital Group Annual Data | |||||||||||||||||||||
Trend | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | |||||||||||
ROIC % | Get a 7-Day Free Trial | 4.29 | 3.28 | 2.91 | 1.01 | 2.21 |
Ascent Capital Group Quarterly Data | ||||||||||||||||||||
Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | |
ROIC % | Get a 7-Day Free Trial | 2.44 | 2.06 | 5.05 | 2.33 | 4.55 |
For the Security & Protection Services subindustry, Ascent Capital Group's ROIC %, along with its competitors' market caps and ROIC % 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 Business Services industry and Industrials sector, Ascent Capital Group's ROIC % distribution charts can be found below:
* The bar in red indicates where Ascent Capital Group's ROIC % falls into.
Ascent Capital Group's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2018 is calculated as:
ROIC % (A: Dec. 2018 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Dec. 2017 ) | + | Invested Capital (A: Dec. 2018 )) | / count ) |
= | 57.686 * ( 1 - 1.64% ) | / | ( (1948.922 | + | 3181.859) | / 2 ) |
= | 56.7399496 | / | 2565.3905 | |||
= | 2.21 % |
where
Invested Capital | (A: Dec. 2017 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 2054.985 | - | 67.374 | - | ( 116.423 | - | max(0, 101.554 | - | 140.243 | + | 116.423 | )) |
= | 1948.922 |
Invested Capital | (A: Dec. 2018 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 1413.544 | - | 48.674 | - | ( 105.921 | - | max(0, 1968.422 | - | 151.433 | + | 105.921 | )) |
= | 3181.859 |
Ascent Capital Group's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Jun. 2019 is calculated as:
ROIC % (Q: Jun. 2019 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Mar. 2019 ) | + | Invested Capital (Q: Jun. 2019 )) | / count ) |
= | 71.72 * ( 1 - 0.11% ) | / | ( (3147.857 | + | 0.206) | / 2 ) |
= | 71.641108 | / | 1574.0315 | |||
= | 4.55 % |
where
Invested Capital | (Q: Mar. 2019 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 1384.048 | - | 58.901 | - | ( 76.3 | - | max(0, 1946.584 | - | 123.874 | + | 76.3 | )) |
= | 3147.857 |
Invested Capital | (Q: Jun. 2019 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 30.193 | - | 1.999 | - | ( 29.762 | - | max(0, 2.097 | - | 30.085 | + | 29.762 | )) |
= | 0.206 |
Note: The Operating Income data used here is four times the quarterly (Jun. 2019) 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.
Ascent Capital Group (OTCPK:ASCMA) ROIC % Explanation
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Ascent Capital Group's WACC % is 0.00%. Ascent Capital Group's ROIC % is 0.00% (calculated using TTM income statement data).
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Thank you for viewing the detailed overview of Ascent Capital Group's ROIC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Thomas Patrick Mcmillin | director | C/O WIDEOPENWEST, INC., 7887 EAST BELLEVIEW AVENUE, SUITE 1000, ENGLEWOOD CO 80111 |
John C Malone | 10 percent owner | 12300 LIBERTY BLVD, ENGLEWOOD CO 80112 |
Jeffery R Gardner | director, officer: Executive Vice President | ONE ALLIED DRIVE, LITTLE ROCK AR 72202 |
William R Fitzgerald | director, 10 percent owner, officer: Chairman | 2431 EAST 61ST STREET STE 800, TULSA OK 74136 |
Charles Y Tanabe | director | 123 LIBERTY BLVD, ENGLEWOOD CO 80112 |
Brigade Capital Management, Lp | 10 percent owner | 399 PARK AVENUE, 16TH FLOOR, NEW YORK NY 10022 |
Brigade Capital Management Gp, Llc | 10 percent owner | 399 PARK AVENUE, 16TH FLOOR, NEW YORK NY 10022 |
Morgan Donald E Iii | 10 percent owner | C/O BRIGADE CAPITAL MANAGEMENT, LLC, 717 FIFTH AVENUE, SUITE 1301, NEW YORK NY 10022 |
Brigade Leveraged Capital Structures Fund Ltd. | 10 percent owner | ONE NEXUS WAY, CAMANA BAY, GRAND CAYMAN E9 KY1-9005 |
Ahmet H Okumus | 10 percent owner | C/O OKUMUS FUND MANAGEMENT LTD., 767 THIRD AVENUE, 35TH FLOOR, NEW YORK NY 10022 |
Okumus Fund Management Ltd. | 10 percent owner | 767 THIRD AVENUE, 35TH FLOOR, NEW YORK NY 10017 |
Okumus Opportunistic Value Fund Ltd. | 10 percent owner | CRAIGMUIR CHAMBERS, SUITE 71, ROAD TOWN, TORTOLA D8 VG 1110 |
Carl E Vogel | director | C/O SIRIUS XM RADIO INC., 1221 AVENUE OF THE AMERICAS, NEW YORK NY 10020 |
Brian Deevy | director | C/O TICKETMASTER, 8800 WEST SUNSET BLVD., WEST HOLLYWOOD CA 90069 |
Richard Walker | officer: Executive Vice President | C/O SERVICESOURCE INTERNATIONAL, INC., 717 17TH STREET, 5TH FLOOR, DENVER CO 80202 |
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