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CardioGenics Holdings (CardioGenics Holdings) ROC (Joel Greenblatt) % : -2,330.43% (As of Jan. 2016)


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What is CardioGenics Holdings 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. CardioGenics Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2016 was -2,330.43%.

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

CGNH's ROC (Joel Greenblatt) % is not ranked *
in the Medical Diagnostics & Research industry.
Industry Median: -19.125
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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


CardioGenics Holdings ROC (Joel Greenblatt) % Historical Data

The historical data trend for CardioGenics Holdings'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.

CardioGenics Holdings ROC (Joel Greenblatt) % Chart

CardioGenics Holdings Annual Data
Trend Jul06 Jul07 Jul08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -6,621.30 -1,726.67 -3,847.93 -2,029.17 -1,979.49

CardioGenics Holdings Quarterly Data
Apr11 Jul11 Oct11 Jan12 Apr12 Jul12 Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16
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 -1,961.90 -1,550.00 -1,052.63 -3,466.67 -2,330.43

Competitive Comparison of CardioGenics Holdings's ROC (Joel Greenblatt) %

For the Diagnostics & Research subindustry, CardioGenics Holdings'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.


CardioGenics Holdings's ROC (Joel Greenblatt) % Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, CardioGenics Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:

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



CardioGenics Holdings 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: Oct. 2015 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + -6.9388939039072E-18) - (0.891 + 0.487 + 0.344)
=-1.722

Working Capital(Q: Jan. 2016 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.38 + 0 + 0) - (1.467 + 0 + 0.5)
=-1.587

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of CardioGenics Holdings for the quarter that ended in Jan. 2016 can be restated as:

ROC (Joel Greenblatt) %(Q: Jan. 2016 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Oct. 2015  Q: Jan. 2016
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-0.804/( ( (0.035 + max(-1.722, 0)) + (0.034 + max(-1.587, 0)) )/ 2 )
=-0.804/( ( 0.035 + 0.034 )/ 2 )
=-0.804/0.0345
=-2,330.43 %

Note: The EBIT data used here is four times the quarterly (Jan. 2016) 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.


CardioGenics Holdings  (OTCPK:CGNH) 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.


CardioGenics Holdings ROC (Joel Greenblatt) % Related Terms

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CardioGenics Holdings (CardioGenics Holdings) Business Description

Traded in Other Exchanges
N/A
Address
6295 Northam Drive, Unit 8, Mississauga, ON, CAN, L4V 1W8
CardioGenics Holdings Inc is a biotechnology company. It is engaged in the development and commercialization of diagnostic test products for the In-Vitro Diagnostics (IVD) testing market. The company's objective is to create, develop and commercialize superior, innovative, cost-effective and patent-protected products for the IVD based on proprietary technologies. Its products include QL Care Analyzer, Immunoassay Tests, and Paramagnetic Beads. The business activity is primarily carried out through the region of Canada.

CardioGenics Holdings (CardioGenics Holdings) Headlines

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