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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. RiceBran Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -251.11%.
The historical rank and industry rank for RiceBran Technologies's ROC (Joel Greenblatt) % or its related term are showing as below:
During the past 13 years, RiceBran Technologies's highest ROC (Joel Greenblatt) % was -35.52%. The lowest was -175.29%. And the median was -59.17%.
RiceBran Technologies's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.60% per year.
The historical data trend for RiceBran Technologies'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.
RiceBran Technologies Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | -70.43 | -49.86 | -39.43 | -41.83 | -125.27 |
RiceBran Technologies 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 | -29.53 | -57.20 | -56.51 | -108.14 | -251.11 |
For the Packaged Foods subindustry, RiceBran Technologies'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.
For the Consumer Packaged Goods industry and Consumer Defensive sector, RiceBran Technologies's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where RiceBran Technologies'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:
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) |
= | (2.62 | + | 0.514 | + | 0.515) | - | (6.525 | + | 0 | + | 0) |
= | -2.876 |
Working Capital | (Q: Dec. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (2.824 | + | 0.543 | + | 0.308) | - | (6.75 | + | 0 | + | 0) |
= | -3.075 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of RiceBran Technologies 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 ) |
= | -12.888 | / | ( ( (6.027 + max(-2.876, 0)) | + | (4.238 + max(-3.075, 0)) ) | / | 2 ) |
= | -12.888 | / | ( ( 6.027 | + | 4.238 ) | / | 2 ) |
= | -12.888 | / | 5.1325 | ||||
= | -251.11 % |
Note: The EBIT data used here is four times the quarterly (Dec. 2023) 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.
RiceBran Technologies (OTCPK:RIBT) 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.
Thank you for viewing the detailed overview of RiceBran Technologies's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Eric Tompkins | director, officer: Executive Chairman | 25420 KUYKENDAHL ROAD, SUITE B300, TOMBALL TX 77375 |
William J Keneally | officer: Interim CFO | 28601 CHAGRIN BLVD., CLEVELAND OH 44122 |
Continental Grain Co | 10 percent owner | 767 FIFTH AVENUE, NEW YORK NY 10153 |
Jean Heggie | director | 25 ALGONQUIN WOOD PLACE, SAINT LOUIS MO 63122 |
William Black | director | 3828 BOUQUET RD, WILDWOOD MO 63069 |
David I. Chemerow | director | PLAYBOY ENT., INC. - H. SHAPIRO, 680 N LAKE SHORE DRIVE, CHICAGO IL 60611 |
Todd T Mitchell | officer: Executive Vice President | 299 S. MAIN STREET, STE.2370, SALT LAKE CITY UT 84111 |
Brent David Rosenthal | director | C/O WR HUFF ASSET MANAGEMENT, 67 PARK PLACE, MORRISTOWN NJ 07960 |
Ari David Gendason | director | 1330 LAKE ROBBINS DRIVE, SUITE 250, THE WOODLANDS TX 77380 |
Peter Bradley | director | 777 E. WISCONSIN AVE., MILWAUKEE WI 53202 |
David Goldman | director | 1330 LAKE ROBBINS DRIVE, SUITE 250, THE WOODLANDS TX 77380 |
Beth L Bronner | director | 2928 RAMCO STREET, SUITE 120, C/O RICEBRAN TECHNOLOGIES, WEST SACRAMENTO CA 95691 |
Brent Robert Rystrom | officer: CFO and EVP | 1330 LAKE ROBBINS DRIVE, SUITE 250, THE WOODLANDS TX 77380 |
Baruch Halpern | director | C/O ION NETWORKS INC, 120 CORPORATE BLVD, S PLAINFIELD NJ 07080 |
Henk Hoogenkamp | director | 1330 LAKE ROBBINS DRIVE, SUITE 250, THE WOODLANDS TX 77380 |
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