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BP Midstream Partners LP (BP Midstream Partners LP) ROC (Joel Greenblatt) % : 235.12% (As of Dec. 2021)


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What is BP Midstream Partners LP 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. BP Midstream Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2021 was 235.12%.

The historical rank and industry rank for BP Midstream Partners LP's ROC (Joel Greenblatt) % or its related term are showing as below:

BPMP's ROC (Joel Greenblatt) % is not ranked *
in the Oil & Gas industry.
Industry Median: 10.58
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

BP Midstream Partners LP's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


BP Midstream Partners LP ROC (Joel Greenblatt) % Historical Data

The historical data trend for BP Midstream Partners LP'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.

BP Midstream Partners LP ROC (Joel Greenblatt) % Chart

BP Midstream Partners LP Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial 134.17 245.82 307.11 299.54 238.43

BP Midstream Partners LP Quarterly Data
Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21
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 283.85 287.44 262.94 185.66 235.12

Competitive Comparison of BP Midstream Partners LP's ROC (Joel Greenblatt) %

For the Oil & Gas Midstream subindustry, BP Midstream Partners LP'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.


BP Midstream Partners LP's ROC (Joel Greenblatt) % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, BP Midstream Partners LP's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where BP Midstream Partners LP's ROC (Joel Greenblatt) % falls into.



BP Midstream Partners LP 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: Sep. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 2.8) - (11.4 + 5.6 + 0.5)
=-14.7

Working Capital(Q: Dec. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.3 + 0 + 0.69999999999999) - (13.1 + 3.8 + 0.4)
=-16.3

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of BP Midstream Partners LP for the quarter that ended in Dec. 2021 can be restated as:

ROC (Joel Greenblatt) %(Q: Dec. 2021 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2021  Q: Dec. 2021
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=188.8/( ( (78.6 + max(-14.7, 0)) + (82 + max(-16.3, 0)) )/ 2 )
=188.8/( ( 78.6 + 82 )/ 2 )
=188.8/80.3
=235.12 %

Note: The EBIT data used here is four times the quarterly (Dec. 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.


BP Midstream Partners LP  (NYSE:BPMP) 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.


BP Midstream Partners LP ROC (Joel Greenblatt) % Related Terms

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BP Midstream Partners LP (BP Midstream Partners LP) Business Description

Traded in Other Exchanges
N/A
Address
501 Westlake Park Boulevard, Houston, TX, USA, 77079
BP Midstream Partners LP is a US-based limited partnership. It owns, operates, develops, and acquires pipelines and other midstream assets. The company holds interests in entities that own crude oil, natural gas, refined products, and diluent pipelines serving as key infrastructure for the company to transport onshore crude oil production to whiting refinery and offshore crude oil and natural gas production. It transports oil and gas products to refining markets and trading and distribution hubs.
Executives
Starlee Sykes director 501 WESTLAKE PARK BLVD HOUSTON TX 77079
Jack T Collins director 210 PARK AVENUE SUITE 2750 OKLAHOMA CITY OK 73102
David Kurt officer: Chief Operating Officer 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Derek Rush officer: Chief Development Officer 501 WESTLAKE PARK BLVD HOUSTON TX 77079
Craig Coburn director, officer: See Remarks 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Michele F Joy director 910 LOUISIANA STREET, HOUSTON TX 77002
Robert A Malone director 3000 NORTH SAM HOUSTON PARKWAY EAST, HOUSTON TX 77032
Gerald J Maret officer: Chief Operating Officer 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Robert P Zinsmeister director, officer: See Remarks 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Clive Christison director 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Mark E Frena officer: Chief Development Officer 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Douglas Sparkman director 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Walter Clements director 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Bp Midstream Partners Gp Llc director, 10 percent owner 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079
Bp Midstream Partners Holdings Llc director, 10 percent owner 501 WESTLAKE PARK BOULEVARD HOUSTON TX 77079

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