Vapotherm (Vapotherm) ROC (Joel Greenblatt) %

: -43.16% (As of Dec. 2023)

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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. Vapotherm's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -43.16%.

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

VAPO' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -190.95 Med: -156.88 Max: -73.33
Current: -73.33

During the past 8 years, Vapotherm's highest ROC (Joel Greenblatt) % was -73.33%. The lowest was -190.95%. And the median was -156.88%.

VAPO's ROC (Joel Greenblatt) % is ranked worse than
64.79% of 852 companies
in the Medical Devices & Instruments industry
Industry Median: 0.615 vs VAPO: -73.33

Vapotherm's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 11.40% per year.

Vapotherm ROC (Joel Greenblatt) % Historical Data

The historical data trend for Vapotherm'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.

Vapotherm Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC (Joel Greenblatt) %

-184.92

-154.27

-136.55

-190.95

-73.90

Vapotherm Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROC (Joel Greenblatt) %																-116.02	-94.09	-71.75	-78.97	-43.16

Competitive Comparison

For the Medical Devices subindustry, Vapotherm'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.

Vapotherm ROC (Joel Greenblatt) % Distribution

For the Medical Devices & Instruments industry and Healthcare sector, Vapotherm's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Vapotherm 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: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.441	+	23.093	+	4.202)	-	(9.898	+	1.242	+	2.155)
=	21.441

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.672	+	22.968	+	3.058)	-	(13.042	+	1.237	+	2.402)
=	20.017

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Vapotherm for the quarter that ended in Dec. 2023 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-20.716	/	( ( (27.464 + max(21.441, 0))	+	(27.075 + max(20.017, 0)) )	/	2 )
=	-20.716	/	( ( 48.905	+	47.092 )	/	2 )
=	-20.716	/	47.9985
=	-43.16 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Vapotherm (OTCPK:VAPO) 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.

Vapotherm ROC (Joel Greenblatt) % Related Terms

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Vapotherm (Vapotherm) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Vapotherm Inc (OTCPK:VAPO) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

100 Domain Drive, Exeter, NH, USA, 03833

Website

https://www.vapotherm.com

Vapotherm Inc is a medical technology company based in the United States. It is mainly engaged in the development and commercialization of its proprietary Hi-VNI technology products that are used to treat patients of all ages suffering from respiratory distress. The company offers four versions of its Precision Flow systems: Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox. It generates revenue primarily from sales of proprietary Precision Flow systems to hospitals through a direct sales organization in the United States and distributors in select countries outside of the United States.

Executives

Joseph Army	director, officer: President and CEO	ONE WASHINGTON CENTER, SUITE 400, DOVER NH 03820
Anthony L. Arnerich	director	100 DOMAIN DRIVE, EXETER NH 03833
Dorota Mckay	officer: Chief Accounting Officer	100 DOMAIN DRIVE, EXETER NH 03833
John Landry	officer: See Remarks	100 DOMAIN DRIVE, EXETER NH 03833
James W Liken	director	5 DEER SPRING LANE, PITTSBURGH PA 15211
Lance A Berry	director	5677 AIRLINE ROAD, ARLINGTON TN 38002
Elizabeth H Weatherman	director	C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE, NEW YORK NY 10017
Richard R Barrera	10 percent owner	767 THIRD AVENUE, 29TH FLOOR, NEW YORK NY 10017
Roystone Capital Holdings Llc	10 percent owner	767 THIRD AVENUE, 29TH FLOOR, NEW YORK NY 10017
Roystone Capital Management Lp	10 percent owner	780 THIRD AVENUE, 41ST FLOOR, NEW YORK NY 10017
Brian Lawrence	officer: SVP & Chief Technology Officer	100 DOMAIN DRIVE, EXETER NH 03833
Prescott General Partners Llc	10 percent owner, other: Member of Section 13(d) Group	2200 BUTTS ROAD, SUITE 320, BOCA RATON FL 33431
Gregoire Ramade	officer: Vice President, International	100 DOMAIN DRIVE, EXETER NH 03833
Joel F. Dube	officer: Chief Accounting Officer	100 DOMAIN DRIVE, EXETER NH 03833
Donald J Spence	director	C/O OAKMONT ACQUISITION CORP., 33 BLOOMFIELD HILLS PARKWAY, SUITE 240, BLOOMFIELD HILLS MI 48304