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Liberty Property Trust (Liberty Property Trust) ROC (Joel Greenblatt) % : 106.24% (As of Sep. 2019)


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What is Liberty Property Trust 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. Liberty Property Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 was 106.24%.

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

LPT's ROC (Joel Greenblatt) % is not ranked *
in the REITs industry.
Industry Median: 112.94
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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


Liberty Property Trust ROC (Joel Greenblatt) % Historical Data

The historical data trend for Liberty Property Trust'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.

Liberty Property Trust ROC (Joel Greenblatt) % Chart

Liberty Property Trust Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 113.95 - 245.48 67.90 43.53

Liberty Property Trust Quarterly Data
Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19
ROC (Joel Greenblatt) % Get a 7-Day Free Trial 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 59.68 73.25 71.55 75.94 106.24

Competitive Comparison of Liberty Property Trust's ROC (Joel Greenblatt) %

For the REIT - Office subindustry, Liberty Property Trust'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.


Liberty Property Trust's ROC (Joel Greenblatt) % Distribution in the REITs Industry

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

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



Liberty Property Trust 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: Jun. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(12.458 + 0 + 531.379) - (136.667 + 0 + 19.033)
=388.137

Working Capital(Q: Sep. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(16.975 + 0 + 388.961) - (157.404 + 0 + 15.939)
=232.593

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Liberty Property Trust for the quarter that ended in Sep. 2019 can be restated as:

ROC (Joel Greenblatt) %(Q: Sep. 2019 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2019  Q: Sep. 2019
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=348.624/( ( (17.931 + max(388.137, 0)) + (17.664 + max(232.593, 0)) )/ 2 )
=348.624/( ( 406.068 + 250.257 )/ 2 )
=348.624/328.1625
=106.24 %

Note: The EBIT data used here is four times the quarterly (Sep. 2019) 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.


Liberty Property Trust  (NYSE:LPT) 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.


Liberty Property Trust ROC (Joel Greenblatt) % Related Terms

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Liberty Property Trust (Liberty Property Trust) Business Description

Traded in Other Exchanges
N/A
Address
650 East Swedesford Road, Suite 400, Wayne, PA, USA, 19087
Liberty Property Trust is a real estate investment trust that primarily manages and leases industrial and office properties throughout the United States. The majority of the company's real estate portfolio comprises industrial facilities, such as distribution warehouses and light-manufacturing spaces. Office buildings located principally in suburban developments and office parks also represent a substantial share of its assets. Liberty derives nearly all of its income as rental revenue from tenants. Its largest individual markets in terms of revenue are Central and Southeast Pennsylvania. The vast majority of Liberty's income is split between its distribution and office locations. The company's most significant tenants are large retailers and financial services firms.
Executives
Daniel P Garton director 4333 AMON CARTER BLVD, FORT WORTH TX 76155
Marguerite M Nader director 2S601 AVENUE LA TOURS, OAK BROOK IL 60523
Fredric J Tomczyk director TORONTO DOMINION CENTRE, PO BOX 1, TORONTO A6 M5K IA2
Katherine Dietze Courage director C/O LABRANCHE & CO INC., 33 WHITEHALL STREET, NEW YORK NY 10004
Deloach Thomas C Jr director C/O ASBURY AUTOMOTIVE GROUP, 2905 PREMIERE PKWY, STE 300, DULUTH GA 30097
Robert G Gifford director RETAIL PROPERTIES OF AMERICA, INC., 2021 SPRING ROAD, SUITE 200, OAK BROOK IL 60523
Antonio F. Fernandez director C/O PINNACLE FOODS INC., 399 JEFFERSON ROAD, PARSIPPANY NJ 07054
William P Hankowsky director, officer: Chairman, President & CEO C/O LIBERTY PROPERTY TRUST, 65 VALLEY STREAM PARKWAY, MALVERN PA 19355
Shawn Neuman officer: Secretary and General Counsel C/O LIBERTY PROPERTY TRUST, SUITE 400, WAYNE PA 19087
Christopher J Papa officer: Exec. Vice President and CFO 4401 NORTHSIDE PARKWAY, SUITE 800, ATLANTA GA 30327
M Leanne Lachman director CHICAGO TITLE CORP, 171 N CLARK ST, CHICAGO IL 80601
Alburger George J Jr officer: Exec. VP C/O LIBERTY PROPERTY TRUST, 65 VALLEY STREAM PARKWAY, MALVERN PA 19355
Stephen D Steinour director C/O KEANE INC, TEN CITY SQ, BOSTON MA 02129
Stephen B Siegel director 200 PARK AVE, NEW YORK NY 10166
Jose Mejia director

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