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. Aviat Networks's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2022 was 134.97%.
The historical rank and industry rank for Aviat Networks's ROC (Joel Greenblatt) % or its related term are showing as below:
AVNW'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -82.78 Med: 0.07 Max: 145.5
Current: 145.5
During the past 13 years, Aviat Networks's highest ROC (Joel Greenblatt) % was 145.50%. The lowest was -82.78%. And the median was 0.07%.
AVNW's ROC (Joel Greenblatt) % is ranked better than 96.98% of 2386
companies
in the Hardware industry
Industry Median: 13.22
vs AVNW: 145.50
Aviat Networks's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Aviat Networks ROC (Joel Greenblatt) % Historical Data
The historical data trend for Aviat Networks'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.
Aviat Networks Annual Data
Trend
Jun12
Jun13
Jun14
Jun15
Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
ROC (Joel Greenblatt) %
-2.30
7.71
9.60
19.99
125.01
Aviat Networks 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) %
129.71
72.32
201.07
213.55
134.97
Competitive Comparison
For the Communication Equipment subindustry, Aviat Networks'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.
Aviat Networks ROC (Joel Greenblatt) % Distribution
For the Hardware industry and Technology sector, Aviat Networks's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Aviat Networks's ROC (Joel Greenblatt) % falls into.
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 (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.
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.
Aviat Networks ROC (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Aviat Networks's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Aviat Networks Inc is a networking solutions provider. It designs, manufactures and sells wireless networking products, solutions, and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators around the world. The company's product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly-licensed and license-exempt (operating in license-exempt frequencies), and element and network management software. Primarily the firm's concentrations for most of the Sales and Service resources are in the United States, Western and Southern Africa, the Philippines, and the European Union.
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