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Doverddlery (FRA:D1R) ROC (Joel Greenblatt) % : -15.49% (As of Mar. 2015)


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What is Doverddlery 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. Doverddlery's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was -15.49%.

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

FRA:D1R's ROC (Joel Greenblatt) % is not ranked *
in the Retail - Cyclical industry.
Industry Median: 10.18
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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


Doverddlery ROC (Joel Greenblatt) % Historical Data

The historical data trend for Doverddlery'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.

Doverddlery ROC (Joel Greenblatt) % Chart

Doverddlery Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 33.85 26.92 19.57 15.95 11.56

Doverddlery Quarterly Data
Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15
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 -14.36 8.27 7.59 34.26 -15.49

Competitive Comparison of Doverddlery's ROC (Joel Greenblatt) %

For the Specialty Retail subindustry, Doverddlery'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.


Doverddlery's ROC (Joel Greenblatt) % Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Doverddlery's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Doverddlery 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. 2014 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.333 + 22.919 + 2.886) - (8.564 + 0 + 0)
=18.574

Working Capital(Q: Mar. 2015 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.214 + 29.898 + 3.641) - (8.983 + 0 + 0)
=25.77

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Doverddlery for the quarter that ended in Mar. 2015 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2015 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2014  Q: Mar. 2015
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-4.404/( ( (5.692 + max(18.574, 0)) + (6.812 + max(25.77, 0)) )/ 2 )
=-4.404/( ( 24.266 + 32.582 )/ 2 )
=-4.404/28.424
=-15.49 %

Note: The EBIT data used here is four times the quarterly (Mar. 2015) 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.


Doverddlery  (FRA:D1R) 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.


Doverddlery ROC (Joel Greenblatt) % Related Terms

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Doverddlery (FRA:D1R) Business Description

Traded in Other Exchanges
N/A
Address
Dover Saddlery, Inc. is a Delaware Corporation. The Company was founded in 1975. It is a specialty retailer and the largest multi-channel marketer of premium, equestrian products in the U.S. The Company sells its products through a multi-channel strategy, including direct and retail. The Company offers a comprehensive selection of products required to own, ride, train and compete with a horse. The Company's equestrian product line includes a broad variety of separate items such as saddles, tack, specialized apparel, footwear, horse clothing, horse health and stable products. The Company has established itself as the largest multi-channel marketer of equestrian tack, specialized apparel, horse care and stable products in the U.S. and plans to continue its multi-channel retail strategy to capitalize on strong brand equity and utilize its customer database. This multi-channel strategy enables it to capture customer data, achieve operational synergies, provide a seamless and convenient shopping experience for its customers, cross market its products and reinforce its brand across channels. As of December 31, 2012, it operated seventeen stores under the Dover Saddlery brand and one store under the Smith Brothers brand. The Company is subject to numerous regulations governing the Internet and e-commerce, retailers generally, the importation, promotion and sale of merchandise, and the operation of retail stores and warehouse facilities.

Doverddlery (FRA:D1R) Headlines

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