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. Amazon.com's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was -3.62%.
The historical rank and industry rank for Amazon.com's ROC (Joel Greenblatt) % or its related term are showing as below:
AMZN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.71 Med: 14.56 Max: 22.91
Current: 6.37
During the past 13 years, Amazon.com's highest ROC (Joel Greenblatt) % was 22.91%. The lowest was 0.71%. And the median was 14.56%.
AMZN's ROC (Joel Greenblatt) % is ranked worse than 60.83% of 1113
companies
in the Retail - Cyclical industry
Industry Median: 11.69
vs AMZN: 6.37
Amazon.com's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 8.00% per year.
Amazon.com ROC (Joel Greenblatt) % Historical Data
The historical data trend for Amazon.com'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.
Amazon.com Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
ROC (Joel Greenblatt) %
11.94
22.91
19.51
20.78
21.77
Amazon.com Quarterly Data
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
ROC (Joel Greenblatt) %
21.49
10.23
29.67
-8.69
-3.62
Competitive Comparison
For the Internet Retail subindustry, Amazon.com'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.
Amazon.com ROC (Joel Greenblatt) % Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Amazon.com's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Amazon.com's ROC (Joel Greenblatt) % falls into.
Amazon.com 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:
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.
Note:
The EBIT data used here is four times the quarterly (Jun. 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.
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.
Thank you for viewing the detailed overview of Amazon.com's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume, or GMV, in 2021. Retail related revenue represents approximately 80% of total, followed by Amazon Web Services' cloud computing, storage, database, and other offerings (10% to 15%), advertising services (5%), and other the remainder. International segments constitute 25% to 30% of Amazon's non-AWS sales, led by Germany, the United Kingdom, and Japan.
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