Tenzing Acquisition (Tenzing Acquisition) ROC (Joel Greenblatt) % : 0.00% (As of Aug. 2020)

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What is Tenzing Acquisition 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. Tenzing Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2020 was 0.00%.

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

TZACU' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6585.37 Med: -645.59 Max: -225
Current: -6585.37

During the past 2 years, Tenzing Acquisition's highest ROC (Joel Greenblatt) % was -225.00%. The lowest was -6585.37%. And the median was -645.59%.

TZACU's ROC (Joel Greenblatt) % is not ranked
in the Diversified Financial Services industry.
Industry Median: -47.545 vs TZACU: -6585.37

Tenzing Acquisition's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

Tenzing Acquisition ROC (Joel Greenblatt) % Historical Data

The historical data trend for Tenzing Acquisition'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.

Tenzing Acquisition ROC (Joel Greenblatt) % Chart

Tenzing Acquisition Annual Data

Trend

Feb19

Feb20

ROC (Joel Greenblatt) %

-225.00

-1,066.18

Tenzing Acquisition Quarterly Data
	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial					-1,834.15	-13,280.00	-	-	-

Competitive Comparison of Tenzing Acquisition's ROC (Joel Greenblatt) %

For the Shell Companies subindustry, Tenzing Acquisition'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.

Tenzing Acquisition's ROC (Joel Greenblatt) % Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Tenzing Acquisition's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Tenzing Acquisition 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: May. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.042)	-	(0.501	+	0	+	0)
=	-0.459

	Working Capital		(Q: Aug. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.022)	-	(0.736	+	0	+	0)
=	-0.714

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Tenzing Acquisition for the quarter that ended in Aug. 2020 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Aug. 2020 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: May. 2020		Q: Aug. 2020
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.104	/	( ( (0 + max(-0.459, 0))	+	(0 + max(-0.714, 0)) )	/	1 )
=	-2.104	/	( ( 0	+	0 )	/	1 )
=	-2.104	/	0
=	%

Note: The EBIT data used here is four times the quarterly (Aug. 2020) EBIT data.

Tenzing Acquisition (NAS:TZACU) 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.

Tenzing Acquisition ROC (Joel Greenblatt) % Related Terms

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Tenzing Acquisition (Tenzing Acquisition) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Tenzing Acquisition Corp (NAS:TZACU) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

250 West 55th Street, New York, NY, USA, 10019

Website

Tenzing Acquisition Corp is a blank check company formed to acquire, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, recapitalization, exchangeable share transaction or other similar business transaction with one or more operating businesses or assets that have not yet identified.

Executives

Glazer Capital, Llc	10 percent owner	250 WEST 55TH STREET, SUITE 30A, NEW YORK NY 10019
Paul J Glazer	10 percent owner	250 WEST 55TH ST, SUITE 30A, NEW YORK NY 10019
Mizuho Securities Usa Llc	10 percent owner	1271 AVENUE OF THE AMERICAS, FLOORS - 2,3,4,18,19, NEW YORK NY 10020
Parag Saxena	director, 10 percent owner, officer: Chairman of the Board	250 WEST 55TH STREET, SUITE 13D, NEW YORK NY 10019
Rahul Nayar	director, 10 percent owner, officer: Chief Executive Officer	250 WEST 55TH STREET, NEW YORK NY 10019
Tenzing Llc	10 percent owner	250 WEST 55TH STREET, NEW YORK NY 10019
Hudson Bay Capital Management Lp	10 percent owner	28 HAVEMEYER PLACE, 2ND FLOOR, GREENWICH CT 06830
Sander Gerber	10 percent owner	C/O HUDSON BAY CAPITAL MANAGEMENT, L.P., 28 HAVEMEYER PLACE, 2ND FLOOR, GREENWICH CT 06830
William I Campbell	director	270 PARK AVENUE, NEW YORK NY 10017
Nina B. Shapiro	director	2201 WALNUT AVENUE, SUITE 100, FREMONT CA 94538
Vikas Thapar	director	284 BOULEVARD SAINT GERMAIN, PARIS I0 75007
Atanuu Agarrwal	officer: Vice President	250 WEST 55TH STREET, NEW YORK NY 10019
Gonzalo Cordova	officer: Chief Financial Officer	250 WEST 55TH STREET, NEW YORK NY 10019