Innovative Solutions and Support (Innovative Solutions and Support) ROC (Joel Greenblatt) % : 21.53% (As of Dec. 2023)

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What is Innovative Solutions and Support 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. Innovative Solutions and Support's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 21.53%.

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

ISSC' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -29.96 Med: 15.11 Max: 51.82
Current: 38.27

During the past 13 years, Innovative Solutions and Support's highest ROC (Joel Greenblatt) % was 51.82%. The lowest was -29.96%. And the median was 15.11%.

ISSC's ROC (Joel Greenblatt) % is ranked better than
82.64% of 311 companies
in the Aerospace & Defense industry
Industry Median: 10.53 vs ISSC: 38.27

Innovative Solutions and Support's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

Innovative Solutions and Support ROC (Joel Greenblatt) % Historical Data

The historical data trend for Innovative Solutions and Support'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.

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Innovative Solutions and Support ROC (Joel Greenblatt) % Chart

Innovative Solutions and Support Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

ROC (Joel Greenblatt) %

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11.16

19.05

25.76

51.82

33.60

Innovative Solutions and Support 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															28.90	43.49	29.15	56.08	21.53

Competitive Comparison of Innovative Solutions and Support's ROC (Joel Greenblatt) %

For the Aerospace & Defense subindustry, Innovative Solutions and Support'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.

Innovative Solutions and Support's ROC (Joel Greenblatt) % Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Innovative Solutions and Support's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Innovative Solutions and Support's ROC (Joel Greenblatt) % falls into.

Innovative Solutions and Support 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)
=	(9.744	+	6.14	+	15.206)	-	(4.243	+	0.143	+	0)
=	26.704

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5.584	+	7.8	+	12.429)	-	(4.519	+	0.228	+	0.0010000000000012)
=	21.065

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Innovative Solutions and Support 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 )
=	6.848	/	( ( (7.907 + max(26.704, 0))	+	(7.943 + max(21.065, 0)) )	/	2 )
=	6.848	/	( ( 34.611	+	29.008 )	/	2 )
=	6.848	/	31.8095
=	21.53 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Innovative Solutions and Support (NAS:ISSC) 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.

Innovative Solutions and Support ROC (Joel Greenblatt) % Related Terms

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Innovative Solutions and Support (Innovative Solutions and Support) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » Innovative Solutions and Support Inc (NAS:ISSC) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

720 Pennsylvania Drive, Exton, PA, USA, 19341

Website

https://www.innovative-ss.com

Innovative Solutions and Support Inc is a systems integrator that designs, manufactures, sells, and services air data equipment, engine display systems, standby equipment, primary flight guidance, and cockpit display systems for retrofit applications and original equipment manufacturers. The company supplies integrated Flight Management Systems, Flat Panel Display Systems, Integrated Standby Units, Advanced Global Positioning System receivers that enable reduced carbon footprint navigation, and an Autothrottle, which allows a pilot to automatically control the power setting of the engine and is designed to reduce pilot workload and enhance safety. It sells its products to both the OEM and the retrofit markets.

Executives

Glen R Bressner	director	720 PENNSYLAVANIA DR, EXTON PA 19341
Estate Of Geoffrey S. M. Hedrick	10 percent owner	C/O INNOVATIVE SOLUTIONS AND SUPPORT INC, 720 PENNSYLVANIA DRIVE, EXTON PA 19341
Winston J Churchill	director	C/O SCP PARTNERS, SUITE 300, 1200 LIBERTY RIDGE DRIVE, WAYNE PA 19087
Christopher Harborne	10 percent owner	23F M THAI TOWER, ALL SEASONS PLACE, 87 WIRELESS ROAD, BANGKOK W1 10300
Michael Linacre	officer: Chief Financial Officer	720 PENNSYLVANIA DRIVE, EXTON PA 19341
Parizad Olver	director	C/O SEMPER PARATUS ACQUISITION CORP., 767 THIRD AVENUE, 38TH FLOOR, NEW YORK NY 10017
Mittelstaedt Robert E Jr	director
Stephen L Belland	director	5717 COMPASS COURT, CAPE CORAL FL 33914
Roger Anthony Carolin	director	1200 LIBERTY RIDGE DRIVE, WAYNE PA 19087
Relland Winand	officer: Chief Financial Officer	C/O INNOVATIVE SOLUTIONS & SUPPORT INC., 720 PENNSYLVANIA DRIVE, EXTON PA 19341
Shahram Askarpour	officer: President	C/O INNOVATIVE SOLUTIONS & SUPPORT, INC., 720 PENNSYLVANIA DRIVE, EXTON PA 19341
Ronald Albrecht	officer: Chief Financial Officer	C/O INNOVATIVE SOLUTIONS AND SUPPORT INC, 720 PENNSYLVANIA DRIVE, EXTON PA 19341
Robert Mionis	director
John C Long	officer: Chief Financial Officer	2400 BERNVILLE ROAD, READING PA 19612
Raymond J Wilson	director	720 PENNSYLVANIA DRIVE, EXTON PA 19341