GT Advanced Technologies (GT Advanced Technologies) ROC (Joel Greenblatt) % : -64.78% (As of Jun. 2014)

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What is GT Advanced Technologies 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. GT Advanced Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was -64.78%.

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

GTAT's ROC (Joel Greenblatt) % is not ranked ^*
in the Semiconductors industry.
Industry Median: 8.765
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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

GT Advanced Technologies ROC (Joel Greenblatt) % Historical Data

The historical data trend for GT Advanced Technologies'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.

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GT Advanced Technologies ROC (Joel Greenblatt) % Chart

GT Advanced Technologies Annual Data

Trend

Mar04

Mar05

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Dec13

ROC (Joel Greenblatt) %

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988.75

739.28

741.25

366.42

-58.53

GT Advanced Technologies Quarterly Data
	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															83.01	-123.78	-124.13	-68.02	-64.78

Competitive Comparison of GT Advanced Technologies's ROC (Joel Greenblatt) %

For the Semiconductors subindustry, GT Advanced Technologies'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.

GT Advanced Technologies's ROC (Joel Greenblatt) % Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, GT Advanced Technologies's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where GT Advanced Technologies's ROC (Joel Greenblatt) % falls into.

GT Advanced Technologies 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: Mar. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(12.971	+	61.909	+	43.082)	-	(220.121	+	62.723	+	19.964)
=	-184.846

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.021	+	132.647	+	66.609)	-	(248.948	+	94.422	+	50.165)
=	-180.258

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of GT Advanced Technologies for the quarter that ended in Jun. 2014 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2014		Q: Jun. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-335.976	/	( ( (425.757 + max(-184.846, 0))	+	(611.465 + max(-180.258, 0)) )	/	2 )
=	-335.976	/	( ( 425.757	+	611.465 )	/	2 )
=	-335.976	/	518.611
=	-64.78 %

Note: The EBIT data used here is four times the quarterly (Jun. 2014) EBIT data.

GT Advanced Technologies (OTCPK:GTAT) 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.

GT Advanced Technologies ROC (Joel Greenblatt) % Related Terms

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GT Advanced Technologies (GT Advanced Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » GT Advanced Technologies Inc (OTCPK:GTAT) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

243 Daniel Webster Highway, Merrimack, NH, USA, 03054

Website

http://www.gtat.com

GT Advanced Technologies Inc is a diversified technology company producing advanced materials and equipment for the global consumer electronics, power electronics, solar and LED industries. It operates the company as one business unit comprised of three business segments, sapphire business, polysilicon business and photovoltaic, or PV, business. the company's principal products include Polysilicon Technologies and Equipment, Silicon Crystal Growth Equipment, Sapphire Crystal Growth Equipment, Advanced Sapphire Material, Silicon Carbide Crystal Growth Equipment. The company generates the majority of its revenue from polysilicon business.

Executives

Ray John J. Iii	director	C/O GREYLOCK PARTNERS, LLC, 780 FIFTH AVENUE, NAPLES FL 34102
Richard E Newsted	director	C/O GT ADVANCED TECHNOLOGIES INC, 243 DANIEL WEBSTER HIGHWAY, MERRIMACK NH 03054
Thomas Gutierrez	director, officer: President and CEO	C/O XERIUM TECHNOLOGIES, INC., ONE TECHNOLOGY DRIVE, WESTBOROUGH MA 01581
Matthew E Massengill	director	C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Noel G Watson	director	C/O JACOBS ENGINEERING GROUP INC, 1111 S ARROYO PKWY, PASADENA CA 91105
John Michal Conaway	director	QUANTA SERVICES, INC., 2800 POST OAK BLVD., SUITE 2600, HOUSTON TX 77056-6175
Kathleen A Cote	director	12061 BLUEMONT WAY, RESTON VA 20190
Thomas Jr Wroe	director
Robert E Switz	director	13625 TECHNOLOGY DRIVE, EDEN PRAIRIE MN 55344
Fmr Llc	other: Edward C. Johnson 3d	245 SUMMER STREET, BOSTON MA 02210
John Granara	officer: VP Finance, Controller, CAO	A123 SYSTEMS INC. ARSENAL ON THE CHARLES, 321 ARSENAL STREET, WATERTOWN MA 02472
Mary L Petrovich	director
David C Gray	officer: Chief Strategy/New Bus.Officer	C/O GT SOLAR INTERNATIONAL, INC., 243 DANIEL WEBSTER HIGHWAY, MERRIMACK NH 03054
Cheryl A Diuguid	officer: VP, GM, Sapphire Materials/Eq.	C/O XERIUM TECHNOLOGIES, INC., ONE TECHNOLOGY DRIVE, WESTBOROUGH MA 01581
Fusen Ernie Chen	director	1005 VIRGINIA DRIVE, FORT WASHINGTON PA 19034