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CubeSmart ROC (Joel Greenblatt) %

: 650.99% (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. CubeSmart's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 650.99%.

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

CUBE' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 502.06   Med: 562.07   Max: 605.67
Current: 605.67

During the past 13 years, CubeSmart's highest ROC (Joel Greenblatt) % was 605.67%. The lowest was 502.06%. And the median was 562.07%.

CUBE's ROC (Joel Greenblatt) % is ranked better than
61.71% of 598 companies
in the REITs industry
Industry Median: 256.60 vs CUBE: 605.67

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


CubeSmart ROC (Joel Greenblatt) % Historical Data

The historical data trend for CubeSmart'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.

CubeSmart 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 - - 583.47 502.06 562.07

CubeSmart 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 506.81 804.57 495.16 465.23 650.99

Competitive Comparison

For the REIT - Industrial subindustry, CubeSmart'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.

   

CubeSmart ROC (Joel Greenblatt) % Distribution

For the REITs industry and Real Estate sector, CubeSmart's ROC (Joel Greenblatt) % distribution charts can be found below:

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



CubeSmart 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)
=(7.99 + 0 + 13.287) - (295.124 + 0 + 0.47500000000002)
=-274.322

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8.505 + 0 + 17.858) - (314.484 + 0 + 0.38999999999999)
=-288.511

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of CubeSmart 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 )
=326.596/( ( (50.309 + max(-274.322, 0)) + (50.029 + max(-288.511, 0)) )/ 2 )
=326.596/( ( 50.309 + 50.029 )/ 2 )
=326.596/50.169
=650.99 %

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.


CubeSmart  (NYSE:CUBE) 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.


CubeSmart ROC (Joel Greenblatt) % Related Terms

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


CubeSmart Business Description

CubeSmart logo
Industry
Traded in Other Exchanges
Address
5 Old Lancaster Road, Malvern, PA, USA, 19355
CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. The company's real estate portfolio is composed of buildings with numerous enclosed storage areas for both residential and commercial customers to rent mainly on a month-by-month basis. Most of CubeSmart's facilities are located in Florida, Texas, California, New York, and Illinois. Cumulatively, these states account for both the majority of the square footage in the company's real estate portfolio and the majority of its revenue. CubeSmart derives nearly all of its revenue from rental income from tenants utilizing its storage facilities.
Executives
Lynch Jair K director 5 OLD LANCASTER RD MALVERN PA 19355
Keaton Joel D officer: Sr VP of Operations 5 OLD LANCASTER ROAD MALVERN PA 19355
Dowling Dororthy director 5 OLD LANCASTER ROAD MALVERN PA 19355
Perry Jonathan L officer: SVP and CIO 5 OLD LANCASTER ROAD MALVERN PA 19355
Ratnersalzberg Deborah director 301 WATER ST SE SUITE 201 WASHINGTON DC 20003
Fain John W director 1000 SEMMES AVE RICHMOND VA 23224
Rogatz Jeffrey F director
Blatz Robert G officer: SR VP of Operations 29399 US HWY STE 320 CLEARWATER FL 33761
Bussani Piero director 460 EAST SWEDESFORD ROAD SUITE 3000 WAYNE PA 19087
Remondi John F director 300 CONTINENTAL DRIVE NEWARK DE 19713
Foster Jeffrey P officer: Sr. VP - Chief Legal Officer 460 EAST SWEDESFORD ROAD SUITE 3000 WAYNE PA 19087
Amsdell & Amsdell other: Member of 13d group owning 10% 20445 EMERALD PARKWAY DRIVE SW SUITE 220 CLEVELAND OH 44135
Amsdell Holdings I Inc. other: Member of 13d group owning 10% 20445 EMERALD PARKWAY DRIVE SW SUITE 220 CLEVELAND OH 44135
Amsdell Real Estate Trust Dated 10/3/89 other: Member of 13d group owning 10% 20445 EMERALD PARKWAY DRIVE SW SUITE 220 CLEVELAND OH 44135
Andrews Charles Elliott director C/O H&R BLOCK ONE H&R BLOCK WAY KANSAS CITY MO 64105

CubeSmart Headlines

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