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Cash America International ROIC %

: 1.50% (As of Jun. 2016)
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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Cash America International's annualized return on invested capital (ROIC %) for the quarter that ended in Jun. 2016 was 1.50%.

As of today (2021-04-13), Cash America International's WACC % is 0.00%. Cash America International's ROIC % is 0.00% (calculated using TTM income statement data). Cash America International earns returns that do not match up to its cost of capital. It will destroy value as it grows.


Cash America International ROIC % Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Cash America International Annual Data
Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
ROIC % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.93 2.49 4.11 2.24 2.87

Cash America International Quarterly Data
Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16
ROIC % 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 1.35 2.34 4.77 4.38 1.50

Competitive Comparison
* 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.


Cash America International ROIC % Distribution

* The bar in red indicates where Cash America International's ROIC % falls into.



Cash America International ROIC % Calculation

Cash America International's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2015 is calculated as:

ROIC % (A: Dec. 2015 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (A: Dec. 2014 ) + Invested Capital (A: Dec. 2015 ))/ count )
=56.288 * ( 1 - 35.96% )/( (1266.515 + 1245.515)/ 2 )
=36.0468352/1256.015
=2.87 %

where

Invested Capital(A: Dec. 2014 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1522.447 - 71.306 - ( 184.626 - max(0, 119.465 - 778.402+184.626))
=1266.515

Invested Capital(A: Dec. 2015 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1378.997 - 67.716 - ( 65.766 - max(0, 96.513 - 670.431+65.766))
=1245.515

Cash America International's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Jun. 2016 is calculated as:

ROIC % (Q: Jun. 2016 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2016 ) + Invested Capital (Q: Jun. 2016 ))/ count )
=26.292 * ( 1 - 33.25% )/( (1158.048 + 1184.71)/ 2 )
=17.54991/1171.379
=1.50 %

where

Invested Capital(Q: Mar. 2016 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1310.815 - 64.078 - ( 88.689 - max(0, 85.633 - 613.829+88.689))
=1158.048

Invested Capital(Q: Jun. 2016 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1314.157 - 62.349 - ( 67.098 - max(0, 83.962 - 626.681+67.098))
=1184.71

Note: The Operating Income data used here is four times the quarterly (Jun. 2016) data.

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.


Cash America International  (NYSE:CSH) ROIC % Explanation

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROIC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Cash America International's WACC % is 0.00%. Cash America International's ROIC % is 0.00% (calculated using TTM income statement data).


Be Aware

Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.


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