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Comcast ROC (Joel Greenblatt) %

: 40.77% (As of Jun. 2022)
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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. Comcast's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 40.77%.

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

CMCSA' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 37.19   Med: 48.66   Max: 51.58
Current: 42.04

During the past 13 years, Comcast's highest ROC (Joel Greenblatt) % was 51.58%. The lowest was 37.19%. And the median was 48.66%.

CMCSA's ROC (Joel Greenblatt) % is ranked better than
82.21% of 399 companies
in the Telecommunication Services industry
Industry Median: 14.64 vs CMCSA: 42.04

Comcast's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.90% per year.


Comcast ROC (Joel Greenblatt) % Historical Data

The historical data trend for Comcast'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.

Comcast Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 49.35 45.31 46.49 37.19 44.08

Comcast 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) % 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 Premium Member Only Premium Member Only Premium Member Only 51.18 47.10 37.47 42.70 40.77

Competitive Comparison

For the Telecom Services subindustry, Comcast'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.

   

Comcast ROC (Joel Greenblatt) % Distribution

For the Telecommunication Services industry and Communication Services sector, Comcast's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Comcast 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: Mar. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(12300 + 0 + 4201) - (24522 + 3018 + 0)
=-11039

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11955 + 0 + 5415) - (22716 + 2787 + -1)
=-8132

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Comcast for the quarter that ended in Jun. 2022 can be restated as:

ROC (Joel Greenblatt) %(Q: Jun. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2022  Q: Jun. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=21880/( ( (53820 + max(-11039, 0)) + (53508 + max(-8132, 0)) )/ 2 )
=21880/( ( 53820 + 53508 )/ 2 )
=21880/53664
=40.77 %

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.


Comcast  (NAS:CMCSA) 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.


Comcast ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Comcast's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Comcast Business Description

Comcast logo
Address
One Comcast Center, Philadelphia, PA, USA, 19103-2838
Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to roughly 61 million U.S. homes and businesses, or nearly half of the country. About 57% of the homes in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC broadcast network, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is the dominant television provider in the U.K. and has invested heavily in exclusive and proprietary content to build this position. The firm is also the largest pay-television provider in Italy and has a presence in Germany and Austria.
Executives
Strong Dana officer: CEO - Sky C/O COMCAST CORPORATION ONE COMCAST CENTER PHILADELPHIA PA 19103-2838
Bergman Naomi M. director 210 E. EARLL DRIVE PHOENIX AZ 85012
Miller Adam Louis officer: Sr. EVP ONE COMCAST CENTER PHILADELPHIA PA 19103-2838
Shell Jeff officer: CEO - NBCUniversal C/O COMCAST CORPORATION ONE COMCAST CENTER PHILADELPHIA PA 19103
Bacon Kenneth J director 5404 WISCONSIN AVENUE SUITE 410 CHEVY CHASE MD 20815
Reid Thomas J. officer: Senior EVP, GC and Secretary ONE COMCAST CENTER PHILADELPHIA PA 19103
Montiel Maritza Gomez director C/O APTARGROUP, INC. 265 EXCHANGE DRIVE, SUITE 100 CRYSTAL LAKE IL 60014
Roberts Brian L director, officer: Chairman of Board, Pres. & CEO COMCAST CORP 1500 MARKET STREET-35TH FLOOR PHILIDELPHIA PA 19102-2148
Watson David N officer: Sr. EVP 1100 CASSATT ROAD BERWYN PA 19312
Murdock Daniel C. officer: SVP & Chief Accounting Officer 1500 MARKET STREET PHILADELPHIA PA 19102
Nakahara Asuka director 527 GREYSTONE ROAD MERION PA 19066
Novak David C director 1441 GARDINER LANE LOUISVILLE KY 40213
Bell Madeline S. director ONE COMCAST CENTER PHILADELPHIA PA 19103-2838
Cavanagh Michael J officer: CFO 1 BANK ONE PLAZA IL1-0877 CHICAGO IL 60670
Burke Stephen B officer: Executive Vice President 41 CENTRAL PARK WEST - APT 11A NEW YORK NY 10023

Comcast Headlines

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