Audeo Oncology (Audeo Oncology) ROC (Joel Greenblatt) % : -8,363.48% (As of Sep. 2012)

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What is Audeo Oncology 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. Audeo Oncology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2012 was -8,363.48%.

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

AURX's ROC (Joel Greenblatt) % is not ranked ^*
in the Drug Manufacturers industry.
Industry Median: 7.85
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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

Audeo Oncology ROC (Joel Greenblatt) % Historical Data

The historical data trend for Audeo Oncology'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.

Audeo Oncology ROC (Joel Greenblatt) % Chart

Audeo Oncology Annual Data

Trend

Jun10

Jun11

Jun12

ROC (Joel Greenblatt) %

-44,466.67

-3,204.45

-2,576.36

Audeo Oncology Quarterly Data
	Jun11	Mar12	Jun12	Sep12
ROC (Joel Greenblatt) %	-2,828.87	-	-6,136.14	-8,363.48

Competitive Comparison of Audeo Oncology's ROC (Joel Greenblatt) %

For the Drug Manufacturers - General subindustry, Audeo Oncology'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.

Audeo Oncology's ROC (Joel Greenblatt) % Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Audeo Oncology's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Audeo Oncology 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. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.498)	-	(2.027	+	0	+	0.577)
=	-1.106

	Working Capital		(Q: Sep. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	2.553)	-	(4.509	+	0	+	1.025)
=	-2.981

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Audeo Oncology for the quarter that ended in Sep. 2012 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2012 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2012		Q: Sep. 2012
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-19.236	/	( ( (0.251 + max(-1.106, 0))	+	(0.209 + max(-2.981, 0)) )	/	2 )
=	-19.236	/	( ( 0.251	+	0.209 )	/	2 )
=	-19.236	/	0.23
=	-8,363.48 %

Note: The EBIT data used here is four times the quarterly (Sep. 2012) EBIT data.

Audeo Oncology (DELISTED:AURX) 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.

Audeo Oncology ROC (Joel Greenblatt) % Related Terms

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Audeo Oncology (Audeo Oncology) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Audeo Oncology Inc (DELISTED:AURX) » Definitions » ROC (Joel Greenblatt) %

Traded in Other Exchanges

N/A

Address

Website

http://www.audeooncology.com

Audeo Oncology, Inc was incorporated in Delaware in June 2012. It is a late stage biopharmaceutical company utilizing its Hyaluronic Acid Chemotransport Technology, or HyACT, to target cancer drugs preferentially to tumor cells to enhance drug activity. HyACT is a flexible platform technology designed to increase the effectiveness of anti-cancer agents without increasing treatment toxicity. It seeks to reduce the risks related to drug development by using known anti-cancer drugs, and aim to enhance their commercial value by improving their effectiveness. The Company's lead HyACT product candidate, HA-Irinotecan, is currently in a pivotal Phase III clinical trial for metastatic colorectal cancer, or mCRC. HA-Irinotecan is also in an investigator-sponsored Phase II clinical trial for small cell lung cancer, or SCLC. It also has two other HyACT product candidates that have successfully completed Phase I clinical trials. In addition to its current clinical-stage product candidates, it aims to develop a pipeline of product candidates by exploiting its significant know-how in cancer stem cell biology and cancer metabolism combined with the Versatile Assembly on Stable Templates, or VAST, molecule drug discovery technology that it will in-license. The Company's lead product candidate is HyACT-targeted irinotecan, or HA-Irinotecan, for the treatment of mCRC. Irinotecan, which is marketed in major markets by Pfizer as Camptosar, is an off-patent chemotherapy drug widely used in the treatment of mCRC. Government authorities in the United States (including federal, state and local authorities) and in other countries extensively regulate the manufacture, research, clinical development, labeling, packaging, distribution, post-approval monitoring and reporting, advertising, promotion, export and import of pharmaceutical products, such as those it is developing.