Just Eat Takeaway.com NV (Just Eat Takeaway.com NV) ROC % : -4.14% (As of Dec. 2023)

View and export this data going back to 2019. Start your Free Trial

What is Just Eat Takeaway.com NV ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Just Eat Takeaway.com NV's annualized return on capital (ROC %) for the quarter that ended in Dec. 2023 was -4.14%.

As of today (2024-04-24), Just Eat Takeaway.com NV's WACC % is 10.13%. Just Eat Takeaway.com NV's ROC % is -4.63% (calculated using TTM income statement data). Just Eat Takeaway.com NV earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Just Eat Takeaway.com NV ROC % Historical Data

The historical data trend for Just Eat Takeaway.com NV's ROC % 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.

Just Eat Takeaway.com NV ROC % Chart

Just Eat Takeaway.com NV Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC %

Get a 7-Day Free Trial

-10.39

-2.27

-6.48

-6.38

-4.80

Just Eat Takeaway.com NV Semi-Annual Data
	Dec13	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROC %	Get a 7-Day Free Trial															-5.39	-6.31	-6.49	-4.69	-4.14

Just Eat Takeaway.com NV ROC % Calculation

Just Eat Takeaway.com NV's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2023 is calculated as:

	ROC % (A: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2022 )	+	Invested Capital (A: Dec. 2023 ))	/ count )
=	-538.713 * ( 1 - 10.86% )	/	( (10489.407	+	9533.26)	/ 2 )
=	-480.2087682	/	10011.3335
=	-4.80 %

where

	Invested Capital		(A: Dec. 2022 )
=	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	))
=	13123.941	-	1323.093	-	( 1979.873	-	max(0, 1491.525	-	2802.966	+	1979.873	))
=	10489.407

	Invested Capital		(A: Dec. 2023 )
=	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	))
=	11092.694	-	707.743	-	( 1803.708	-	max(0, 1690.294	-	2541.985	+	1803.708	))
=	9533.26

Just Eat Takeaway.com NV's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-462.378 * ( 1 - 9.46% )	/	( (10708.56	+	9533.26)	/ 2 )
=	-418.6370412	/	10120.91
=	-4.14 %

where

	Invested Capital		(Q: Jun. 2023 )
=	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	))
=	12817.985	-	1157.096	-	( 1949.079	-	max(0, 1549.296	-	2501.625	+	1949.079	))
=	10708.56

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	11092.694	-	707.743	-	( 1803.708	-	max(0, 1690.294	-	2541.985	+	1803.708	))
=	9533.26

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

Just Eat Takeaway.com NV (OTCPK:JTKWY) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 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 ROC % 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, Just Eat Takeaway.com NV's WACC % is 10.13%. Just Eat Takeaway.com NV's ROC % is -4.63% (calculated using TTM income statement data). Just Eat Takeaway.com NV earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % 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.

Just Eat Takeaway.com NV ROC % Related Terms

Thank you for viewing the detailed overview of Just Eat Takeaway.com NV's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.

Just Eat Takeaway.com NV (Just Eat Takeaway.com NV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Just Eat Takeaway.com NV (OTCPK:JTKWY) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

TKAYF:USA TKWY:Netherlands TKWYa:UK JET:UK T5W:Germany TKWY:Austria

Address

Piet Heinkade 61, Amsterdam, NLD, 1019 GM

Website

https://www.takeaway.com

Just Eat Takeaway operates an online marketplace that connects restaurants with users in Europe and North America. The company operates mainly as an order-only marketplace, although it also offers last-mile delivery services. The company is the result of the merger of Just Eat and Takeaway.com in early 2020. The company had close to 985 million orders and a gross transaction value of EUR 28.2 billion in fiscal 2022. Excluding the U.S. after the recent acquisition of Grubhub, the company's largest geographical presence by revenue is in the U.K., Germany, Canada, and the Netherlands.