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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. Net Element's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2021 was 861.37%.
The historical rank and industry rank for Net Element's ROC (Joel Greenblatt) % or its related term are showing as below:
Net Element's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The historical data trend for Net Element'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.
Net Element Annual Data | |||||||||||||||||||||
Trend | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | -8,711.11 | -10,094.86 | -10,062.65 | -2,685.71 | -766.50 |
Net Element Quarterly Data | ||||||||||||||||||||
Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | |
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | 3.61 | -1,378.78 | -744.22 | 330.10 | 861.37 |
For the Software - Infrastructure subindustry, Net Element'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.
For the Software industry and Technology sector, Net Element's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Net Element's ROC (Joel Greenblatt) % falls into.
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. 2021 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (8.918 | + | 0 | + | 1.246) | - | (11.902 | + | 1.127 | + | -0.0010000000000012) |
= | -2.864 |
Working Capital | (Q: Jun. 2021 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (10.76 | + | 0 | + | 1.71) | - | (13.472 | + | 1.461 | + | 0) |
= | -2.463 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Net Element for the quarter that ended in Jun. 2021 can be restated as:
ROC (Joel Greenblatt) % | (Q: Jun. 2021 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Mar. 2021 | Q: Jun. 2021 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 6.456 | / | ( ( (0.767 + max(-2.864, 0)) | + | (0.732 + max(-2.463, 0)) ) | / | 2 ) |
= | 6.456 | / | ( ( 0.767 | + | 0.732 ) | / | 2 ) |
= | 6.456 | / | 0.7495 | ||||
= | 861.37 % |
Note: The EBIT data used here is four times the quarterly (Jun. 2021) 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.
Net Element (NAS:NETE) 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.
Thank you for viewing the detailed overview of Net Element's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Steven Wolberg | officer: Chief Legal Officer | 3363 NE 163RD STREET, #705, NORTH MIAMI BEACH FL 33160 |
Jeffrey Ginsberg | officer: Chief Financial Officer | 3363 NE 163RD STREET, SUITE 705, C/O NET ELEMENT, INC., NORTH MIAMI BEACH FL 33160 |
Jon Najarian | director | 55 EAST MONROE STREET, SUITE 3800, CHICAGO IL 60603 |
John Roland | director | 3370 NE 190 STREET APT. 2108, AVENTURA FL 33180 |
Todd Raarup | director | 133 PROSPECTOR LANE 4102, ASPEN CO 81611 |
Howard Ash | director | 4233 SHERIDAN AVE, MIAMI BEACH FL 33140 |
Jonathan Fichman | director | 9324 NW 10TH STREET, PLANTATION FL 33322 |
John Joseph Wiegand | director | 1250 EASTON ROAD, SUITE 190 A, HORSHAM PA 19044 |
Drew J Freeman | director | 2542 NASSAU LANE, FORT LAUDERDALE FL 33312 |
Oleg Firer | director, 10 percent owner, officer: Chief Executive Officer | 11 YELLOWSTONE DRIVE, OLD BRIDGE NJ 08857 |
James Caan | director | 1450 SOUTH MIAMI AVENUE, MIAMI FL 33130 |
Kenges Rakishev | director | SAF & CO., 214 MUKANOVA STREET, ALMATY 1P 050008 |
Jonathan New | officer: Chief Financial Officer | 12100 NE 16TH AVENUE, #210, NORTH MIAMI FL 33161 |
William Healy | director | 16W281 83RD STREET, SUITE B, BURR RIDGE IL 60527 |
Kelley David P Ii | director | C/O ARCO CAPITAL MANAGEMENT LLC, 7 SHEINOVO STREET, SOFIA E0 1504 |
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