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The Wharf (Holdings) (The Wharf (Holdings)) ROC (Joel Greenblatt) % : 8.02% (As of Dec. 2023)


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What is The Wharf (Holdings) 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. The Wharf (Holdings)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.02%.

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

WARFF' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.86   Med: 53.1   Max: 187.08
Current: 9.34

During the past 13 years, The Wharf (Holdings)'s highest ROC (Joel Greenblatt) % was 187.08%. The lowest was 1.86%. And the median was 53.10%.

WARFF's ROC (Joel Greenblatt) % is ranked worse than
51.32% of 1783 companies
in the Real Estate industry
Industry Median: 10.06 vs WARFF: 9.34

The Wharf (Holdings)'s 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -40.80% per year.


The Wharf (Holdings) ROC (Joel Greenblatt) % Historical Data

The historical data trend for The Wharf (Holdings)'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.

The Wharf (Holdings) ROC (Joel Greenblatt) % Chart

The Wharf (Holdings) Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 31.68 47.81 38.68 1.86 8.55

The Wharf (Holdings) Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
ROC (Joel Greenblatt) % Get a 7-Day Free Trial 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 46.98 10.66 -5.08 11.55 8.02

Competitive Comparison of The Wharf (Holdings)'s ROC (Joel Greenblatt) %

For the Real Estate - Development subindustry, The Wharf (Holdings)'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.


The Wharf (Holdings)'s ROC (Joel Greenblatt) % Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, The Wharf (Holdings)'s ROC (Joel Greenblatt) % distribution charts can be found below:

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



The Wharf (Holdings) 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. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(30.767 + 5243.84 + 16.596) - (2351.206 + 0 + 1091.92)
=1848.077

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.401 + 4762.734 + 1040.743) - (2401.982 + 0 + 448.667)
=2980.229

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of The Wharf (Holdings) 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: Jun. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=320.366/( ( (1548.96 + max(1848.077, 0)) + (1612.973 + max(2980.229, 0)) )/ 2 )
=320.366/( ( 3397.037 + 4593.202 )/ 2 )
=320.366/3995.1195
=8.02 %

Note: The EBIT data used here is two times the semi-annual (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.


The Wharf (Holdings)  (OTCPK:WARFF) 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.


The Wharf (Holdings) ROC (Joel Greenblatt) % Related Terms

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The Wharf (Holdings) (The Wharf (Holdings)) Business Description

Traded in Other Exchanges
Address
Canton Road, 16th Floor, Ocean Centre, Harbour City, Kowloon, Hong Kong, HKG
The Wharf (Holdings) Ltd has determined five reportable operating segments for measuring performance and allocating resources. The segments are investment properties, development properties, hotels, logistics, and investments. The investment properties segment mainly includes property leasing & management operations. The development properties segment encompasses activities relating to the acquisition, development, sales, and marketing of the Group's trading properties. The hotel segment includes hotel management in Asia. The logistics segment mainly includes container terminal operations. The investment segment includes a diversified portfolio of listed equity investments. The majority is from the Development Properties segment. Geographically, the majority is from Mainland China.

The Wharf (Holdings) (The Wharf (Holdings)) Headlines