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Vinhomes JSC (STC:VHM) ROC (Joel Greenblatt) % : 31.12% (As of Mar. 2025)


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What is Vinhomes JSC 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. Vinhomes JSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 31.12%.

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

STC:VHM' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 27.76   Med: 73.49   Max: 117.51
Current: 55.14

During the past 8 years, Vinhomes JSC's highest ROC (Joel Greenblatt) % was 117.51%. The lowest was 27.76%. And the median was 73.49%.

STC:VHM's ROC (Joel Greenblatt) % is ranked better than
74.37% of 1756 companies
in the Real Estate industry
Industry Median: 10.755 vs STC:VHM: 55.14

Vinhomes JSC's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -8.40% per year.


Vinhomes JSC ROC (Joel Greenblatt) % Historical Data

The historical data trend for Vinhomes JSC'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.

Vinhomes JSC ROC (Joel Greenblatt) % Chart

Vinhomes JSC Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial 117.51 112.63 73.89 73.08 59.41

Vinhomes JSC Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 13.35 63.43 49.06 73.10 31.12

Competitive Comparison of Vinhomes JSC's ROC (Joel Greenblatt) %

For the Real Estate Services subindustry, Vinhomes JSC'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.


Vinhomes JSC's ROC (Joel Greenblatt) % Distribution in the Real Estate Industry

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

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


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Vinhomes JSC 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. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(18111523 + 54696048 + 121488927) - (40664443 + 0 + 203591355)
=-49959300

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(17420482 + 55672832 + 118095902) - (91992410 + 0 + 112108398)
=-12911592

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Vinhomes JSC for the quarter that ended in Mar. 2025 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=29923992/( ( (95615177 + max(-49959300, 0)) + (96689115 + max(-12911592, 0)) )/ 2 )
=29923992/( ( 95615177 + 96689115 )/ 2 )
=29923992/96152146
=31.12 %

Note: The EBIT data used here is four times the quarterly (Mar. 2025) 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.


Vinhomes JSC  (STC:VHM) 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.


Vinhomes JSC ROC (Joel Greenblatt) % Related Terms

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Vinhomes JSC Business Description

Traded in Other Exchanges
N/A
Address
Chu Huy Man Street, Vinhomes Riverside Area, Symphony Office Building, Phuc Loi Ward, Long Bien District, Hanoi, VNM
Vinhomes JSC is a real estate development company. The current principal activities of the Company are to develop real estate property for sale, provide leasing of offices, render real estate management and related services, provide general contractor services, consulting and designing construction services, supervision and construction management services. The company has following operating segments: Sales of inventory properties: include the transfer of properties being constructed for sale at the Company and its subsidiaries' real estate projects; Rendering consultancy and general construction contractor services: includes general contractor to investors; construction consultancy and supervision and related services; Other business activities.

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