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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. Ionix Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2022 was -9.33%.
The historical rank and industry rank for Ionix Technology's ROC (Joel Greenblatt) % or its related term are showing as below:
Ionix Technology's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The historical data trend for Ionix Technology'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.
Ionix Technology Annual Data | |||||||||||||||||||||
Trend | Jun12 | Jun13 | Jun14 | Jun15 | Jun16 | Jun17 | Jun18 | Jun19 | Jun20 | Jun21 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | - | 155.96 | 11.71 | 4.67 | 3.72 |
Ionix Technology 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) % | Get a 7-Day Free Trial | -2.81 | 26.80 | -14.49 | 3.34 | -9.33 |
For the Electronic Components subindustry, Ionix Technology'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 Hardware industry and Technology sector, Ionix Technology's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ionix Technology'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: Dec. 2021 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (5.464 | + | 4.78 | + | 1.523) | - | (6.537 | + | 0.284 | + | 0) |
= | 4.946 |
Working Capital | (Q: Mar. 2022 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (4.341 | + | 5.052 | + | 1.599) | - | (5.33 | + | 0.447 | + | -0.00099999999999945) |
= | 5.216 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Ionix Technology 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 ) |
= | -1.088 | / | ( ( (6.622 + max(4.946, 0)) | + | (6.529 + max(5.216, 0)) ) | / | 2 ) |
= | -1.088 | / | ( ( 11.568 | + | 11.745 ) | / | 2 ) |
= | -1.088 | / | 11.6565 | ||||
= | -9.33 % |
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.
Ionix Technology (OTCPK:IINX) 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 Ionix Technology's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Yanli Wang | director | NO. 50 PEOPLE ROAD, RM 608, BLOCK B, TIMES SQUARE, DALIAN CITY F4 116001 |
Xiaolin Wei | director | NO. 50 PEOPLE ROAD, RM 608, BLOCK B, TIMES SQUARE, DALIAN CITY F4 116001 |
Yongping Wang | director | NO. 50 PEOPLE ROAD, RM 608, BLOCK B, TIMES SQUARE, DALIAN CITY F4 116001 |
Yang Yan | officer: President and Treasurer | NO. 50 PEOPLE ROAD, RM 608, BLOCK B, TIMES SQUARE, DALIAN CITY F4 116001 |
Yubao Liu | director, 10 percent owner | NO.122, ZU 9, HONGGUANG COMMUNITY, XIANGYANG DISTRICT, JIAMUSI, HEILONGJIANG F4 154000 |
Shuyu Li | officer: President, Treasurer | ROOM 608, BLOCK B,NO.50 RENMIN ROAD,, ZHONGSHAN DISTRICT, DALIAN F4 116001 |
Long Xie | officer: Secretary of the Company | NO.33,1-502 ROOM,HAIWAN STREET,, SHAHEKOU DISTRICT, DALIAN F4 116023 |
Zhenyu Wang | director | NO.9#22 GONGJIAN COMMUNITY,, QIANJIN DISTRICT,, JIAMUSI CITY,HEILONGJIANG PROV F4 154000 |
Cheng Li | director | NO.49, GROUP 3, YUCAI COMMUNITY, XIANGYANG DISTRICT, JIAMUSI, HEILONGJIANG PROVINCE F4 154000 |
Hui Zhang | director | NO.88, 501,NANHE ST, SHAHEKOU DISTRICT, DALIAN CITY, LIAONING PROVINCE F4 116000 |
Qinghua Shi | director | NO.43, 6-4-1, ANSHAN ROAD, XIGANG DISTRICT, DALIAN, LIAONING PROVINCE F4 116000 |
Anthony Vincent Saviano | director | 30 N. GOULD ST., STE R.,, SHERIDAN, WY 82801 |
Yongsheng Fu | director | NO.97, GROUP 10, YONGTAI COMMUNITY, XIANGYANG DISTRICT,, JIAMUSI, HEILONGJIANG PROVINCE F4 154000 |
Jialin Liang | director | NO.777 HAIAN ROAD, JILIN PROVINCE, CHANGCHUN CITY F4 130000 |
Bailiang Yang | director, officer: Chairman of the Board of Dir. | NO. 279, ZHONGNAN RD, ZHONGSHAN DIST., DALIAN, LIAONING F4 116015 |
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