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. Apple's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2022 was 314.00%.
The historical rank and industry rank for Apple's ROC (Joel Greenblatt) % or its related term are showing as below:
AAPL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 176.19 Med: 271.7 Max: 480.12
Current: 313.03
During the past 13 years, Apple's highest ROC (Joel Greenblatt) % was 480.12%. The lowest was 176.19%. And the median was 271.70%.
Apple's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.40% per year.
Apple ROC (Joel Greenblatt) % Historical Data
The historical data trend for Apple'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.
|
Apple Annual Data
|
|
Trend |
Sep12 |
Sep13 |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
| ROC (Joel Greenblatt) % |
|
|
|
|
|
|
218.49 |
202.81 |
176.19 |
188.72 |
293.55 |
|
Apple Quarterly Data
|
|
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
| ROC (Joel Greenblatt) % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
302.91 |
262.03 |
245.16 |
426.36 |
314.00 |
Competitive Comparison
For the Consumer Electronics subindustry, Apple'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.
Apple ROC (Joel Greenblatt) % Distribution
For the Hardware industry and Technology sector, Apple's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Apple's ROC (Joel Greenblatt) % falls into.
Apple 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.
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Apple for the quarter that ended in Mar. 2022 can be restated as:
Note:
The EBIT data used here is four times the quarterly (Mar. 2022) 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.
Apple Business Description
Traded in Other Exchanges
Address
One Apple Park Way, Cupertino, CA, USA, 95014
Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care, Apple TV+, Apple Arcade, Apple Card, and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates roughly 40% of its revenue from the Americas, with the remainder earned internationally.
Executives
| Kondo Chris |
officer: Principal Accounting Officer |
1 INFINITE LOOP CUPERTINO CA 95014 |
| Maestri Luca |
officer: Senior Vice President, CFO |
1 INFINITE LOOP CUPERTINO CA 95014 |
| Adams Katherine L. |
officer: SVP, GC and Secretary |
APPLE INC. 1 INFINITE LOOP CUPERTINO CA 95014 |
| Williams Jeffrey E |
officer: COO |
ONE INFINITE LOOP CUPERTINO CA 95014 |
| Cook Timothy D |
director, officer: Chief Executive Officer |
C/O APPLE INC ONE INFINITE LOOP CUPERTINO CA 95014 |
| Jung Andrea |
director |
C/O APPLE INC ONE APPLE PARK WAY CUPERTINO CA 95014 |
| Wagner Susan |
director |
C/O BLACKROCK, INC. 40 EAST 52ND STREET NEW YORK NY 10022 |
| Bell James A |
director |
C/O THE DOW CHEMICAL COMPANY 2211 H.H. DOW WAY MIDLAND MI 48674 |
| Levinson Arthur D |
director |
C/O GENENTECH INC 1 DNA WAY MS 49 SOUTH SAN FRANCISCO CA 94080-4990 |
| Sugar Ronald D |
director |
10877 WILSHIRE BLVD. SUITE 1650 LOS ANGELES CA 900274 |
| Gore Albert Jr |
director |
C/O APPLE INC 1 INFINITE LOOP CUPERTINO CA 95014 |
| Iger Robert A |
director |
C/O WALT DISNEY CO 500 S BUENA VISTA STREET BURBANK CA 91521-1062 |
| Ahrendts Angela J |
officer: Senior Vice President |
1 INFINITE LOOP CUPERTINO CA 95014 |
| Srouji Johny |
officer: Senior Vice President |
1 INFINITE LOOP CUPERTINO CA 95014 |
| Federighi Craig |
officer: Senior Vice President |
807 11TH AVENUE SUNNYVALE CA 94089 |
Apple Headlines
By tipranks.com 2022-04-04
By tipranks.com 2022-04-04
By tipranks.com 2022-03-31
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