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Hudbay Minerals ROC (Joel Greenblatt) %

: 11.35% (As of Mar. 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. Hudbay Minerals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2022 was 11.35%.

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

HBM' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.05   Med: -0.77   Max: 6.33
Current: 0.65

During the past 13 years, Hudbay Minerals's highest ROC (Joel Greenblatt) % was 6.33%. The lowest was -10.05%. And the median was -0.77%.

HBM's ROC (Joel Greenblatt) % is ranked better than
74.94% of 2426 companies
in the Metals & Mining industry
Industry Median: -20.97 vs HBM: 0.65

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


Hudbay Minerals ROC (Joel Greenblatt) % Historical Data

The historical data trend for Hudbay Minerals'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.

Hudbay Minerals 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 6.36 6.17 -10.16 -2.61 -3.43

Hudbay Minerals Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
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 -5.22 3.59 -13.67 1.46 11.35

Competitive Comparison

For the Copper subindustry, Hudbay Minerals'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.

   

Hudbay Minerals ROC (Joel Greenblatt) % Distribution

For the Metals & Mining industry and Basic Materials sector, Hudbay Minerals's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Hudbay Minerals 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: Dec. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(166.524 + 158.453 + 23.205) - (223.02 + 106.659 + 146.008)
=-127.505

Working Capital(Q: Mar. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(140.45 + 199.239 + 22.403) - (193.453 + 83.427 + 151.988)
=-66.776

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Hudbay Minerals for the quarter that ended in Mar. 2022 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2021  Q: Mar. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=423.036/( ( (3740.966 + max(-127.505, 0)) + (3713.732 + max(-66.776, 0)) )/ 2 )
=423.036/( ( 3740.966 + 3713.732 )/ 2 )
=423.036/3727.349
=11.35 %

Note: The EBIT data used here is four times the quarterly (Mar. 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.


Hudbay Minerals  (NYSE:HBM) 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.


Hudbay Minerals ROC (Joel Greenblatt) % Related Terms

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Hudbay Minerals Business Description

Hudbay Minerals logo
Traded in Other Exchanges
Address
25 York Street, Suite 800, Toronto, ON, CAN, M5J 2V5
Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company's revenue is attributable to the copper business. The company sells copper concentrates to smelters across Asia, America, and Europe, and sells Zinc metal, the next biggest source of revenue, to industrial customers across North America.

Hudbay Minerals Headlines

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