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NetApp ROC (Joel Greenblatt) %

: 148.63% (As of Oct. 2021)
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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. NetApp's annualized ROC (Joel Greenblatt) % for the quarter that ended in Oct. 2021 was 148.63%.

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

NAS:NTAP' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 40.06   Med: 77.19   Max: 175.05
Current: 160.86

40.06
175.05

During the past 13 years, NetApp's highest ROC (Joel Greenblatt) % was 175.05%. The lowest was 40.06%. And the median was 77.19%.

NAS:NTAP's ROC (Joel Greenblatt) % is ranked higher than
97% of the 2342 Companies
in the Hardware industry.

( Industry Median: 12.89 vs. NAS:NTAP: 160.86 )

NetApp's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 24.40% per year.


NetApp ROC (Joel Greenblatt) % Historical Data

The historical data trend for NetApp'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.

NetApp Annual Data
Trend Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 77.53 162.19 175.05 123.11 137.86

NetApp Quarterly Data
Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21
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 88.84 123.94 244.30 142.56 148.63

Competitive Comparison

For the Computer Hardware subindustry, NetApp'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.

   

NetApp ROC (Joel Greenblatt) % Distribution

For the Hardware industry and Technology sector, NetApp's ROC (Joel Greenblatt) % distribution charts can be found below:

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



NetApp 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: Jul. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(655 + 108 + 321) - (368 + 1988 + 694)
=-1966

Working Capital(Q: Oct. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(647 + 155 + 319) - (432 + 1967 + 747)
=-2025

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of NetApp for the quarter that ended in Oct. 2021 can be restated as:

ROC (Joel Greenblatt) %(Q: Oct. 2021 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jul. 2021  Q: Oct. 2021
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1192/( ( (792 + max(-1966, 0)) + (812 + max(-2025, 0)) )/ 2 )
=1192/( ( 792 + 812 )/ 2 )
=1192/802
=148.63 %

Note: The EBIT data used here is four times the quarterly (Oct. 2021) 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.


NetApp  (NAS:NTAP) 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.


NetApp ROC (Joel Greenblatt) % Related Terms

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


NetApp Business Description

NetApp logo
Industry
Technology » Hardware NAICS : 334112 SIC : 3572
Traded in Other Exchanges
Address
1395 Crossman Avenue, Sunnyvale, CA, USA, 94089
NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance. NetApp transitioned from a data center storage firm to a company with software data management solutions for multicloud environments. The California-headquartered company sells globally and has approximately 10,000 employees.
Executives
Allen Scott R. officer: SVP, Chief Accounting Officer 11690 N.W. 105TH STREET MIAMI FL 33178
Anderson Brad officer: EVP, SSSBU and CIBU ONE DELL WAY ROUND ROCK TX 78682
Hill Kathryn director 7 WORLD TRADE CENTER 250 GREENWICH STREET NEW YORK NY 10007
Ahuja Deepak director C/O TESLA MOTORS, INC. 3500 DEER CREEK ROAD PALO ALTO CA 94304
Schenkel Scott F. director C/O EBAY INC. 2025 HAMILTON AVE. SAN JOSE CA 95125
Kerr Deborah director 901 MARQUETTE AVENUE SUITE 3200 MINNEAPOLIS MN 55402
Nevens Thomas Michael director C/O BORLAND SOFTWARE CORPORATION 20450 STEVENS CREEK BLVD, SUITE 800 CUPERTINO CA 95014
Shaheen George T director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SHAHEEN GEORGE T a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Held Gerald director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HELD GERALD a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Cernuda Cesar officer: President 1395 CROSSMAN AVENUE SUNNYVALE CA 94089
Berry Michael J officer: EVP Finance & Operations, CFO C/O INFORMATICA CORPORATION 2100 SEAPORT BOULEVARD REDWOOD CITY CA 94063
Fawcett Matthew K officer: SVP, GC & Secretary 495 EAST JAVA DRIVE SUNNYVALE CA 94089
Kurian George director, officer: CEO C/O NETAPP 495 E. JAVA DRIVE SUNNYVALE CA 94089
Pasek Ronald J officer: EVP Finance & Operations, CFO 101 INNOVATION DRIVE SAN JOSE CA 95134
Richard Henri P officer: EVP, Go To Market FREESCALE SEMICONDUCTOR, INC. 2680 ZANKER RD, SUITE 200 SAN JOSE CA 95134

NetApp Headlines

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