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HASEKO (FRA:HS6) ROC (Joel Greenblatt) % : 12.05% (As of Dec. 2023)


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What is HASEKO 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. HASEKO's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 12.05%.

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

FRA:HS6' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 16.91   Med: 36.16   Max: 62.83
Current: 16.91

During the past 13 years, HASEKO's highest ROC (Joel Greenblatt) % was 62.83%. The lowest was 16.91%. And the median was 36.16%.

FRA:HS6's ROC (Joel Greenblatt) % is ranked better than
58.1% of 105 companies
in the Homebuilding & Construction industry
Industry Median: 12.57 vs FRA:HS6: 16.91

HASEKO's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -24.00% per year.


HASEKO ROC (Joel Greenblatt) % Historical Data

The historical data trend for HASEKO'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.

HASEKO ROC (Joel Greenblatt) % Chart

HASEKO Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 61.77 31.85 19.36 21.37 18.06

HASEKO Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 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 14.60 24.35 16.40 15.08 12.05

Competitive Comparison of HASEKO's ROC (Joel Greenblatt) %

For the Residential Construction subindustry, HASEKO'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.


HASEKO's ROC (Joel Greenblatt) % Distribution in the Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, HASEKO's ROC (Joel Greenblatt) % distribution charts can be found below:

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



HASEKO 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. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(876.982 + 3071.962 + 134.36) - (642.499 + 0 + 1240.012)
=2200.793

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1067.608 + 3604.967 + 137.033) - (614.055 + 0 + 1299.855)
=2895.698

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of HASEKO 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: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=453.872/( ( (1329.698 + max(2200.793, 0)) + (1109.795 + max(2895.698, 0)) )/ 2 )
=453.872/( ( 3530.491 + 4005.493 )/ 2 )
=453.872/3767.992
=12.05 %

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


HASEKO  (FRA:HS6) 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.


HASEKO ROC (Joel Greenblatt) % Related Terms

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HASEKO (FRA:HS6) Business Description

Traded in Other Exchanges
Address
32-1 Shiba 2-chome, Minato-ku, Tokyo, JPN, 105-8507
Haseko Corp is a Japanese construction company that focuses on residential condominium construction. The company targets its construction efforts in Tokyo and the Kinki region of Japan. Its construction process provides developers with land selection, planning, design, engineering, and final construction. Haseko has historically constructed roughly 15,000 condominium units annually, which allows it to control almost one fourth of the overall Japanese condo market. Haseko also offers various building-related services such as condominium management, repair, remodeling, and brokerage sales. These services account for approximately 25% of the company's overall revenue.

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