What is Fortune Industries, 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. Fortune Industries,'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2013 was -8,035.34%.
The historical rank and industry rank for Fortune Industries,'s ROC (Joel Greenblatt) % or its related term are showing as below:
Fortune Industries,'s 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Fortune Industries, ROC (Joel Greenblatt) % Historical Data
The historical data trend for Fortune Industries,'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.
Fortune Industries, ROC (Joel Greenblatt) % Chart
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Fortune Industries, Annual Data
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Trend |
Aug03 |
Aug04 |
Aug05 |
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Aug07 |
Aug08 |
Jun09 |
Jun10 |
Jun11 |
Jun12 |
| ROC (Joel Greenblatt) % |
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-70.09 |
6.29 |
168.59 |
503.32 |
1,338.79 |
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Fortune Industries, Quarterly Data
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May08 |
Aug08 |
Nov08 |
Feb09 |
May09 |
Sep09 |
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Mar10 |
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Sep10 |
Dec10 |
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Sep11 |
Dec11 |
Mar12 |
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Mar13 |
| ROC (Joel Greenblatt) % |
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1,263.64 |
1,686.21 |
2,710.45 |
1,477.48 |
-8,035.34 |
Competitive Comparison of Fortune Industries,'s ROC (Joel Greenblatt) %
For the Staffing & Employment Services subindustry, Fortune Industries,'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.
Fortune Industries,'s ROC (Joel Greenblatt) % Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Fortune Industries,'s ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Fortune Industries,'s ROC (Joel Greenblatt) % falls into.
Fortune Industries, 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.
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Fortune Industries, for the quarter that ended in Mar. 2013 can be restated as:
Note:
The EBIT data used here is four times the quarterly (Mar. 2013) 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.
Fortune Industries, (FRA:FD9A) Business Description
Traded in Other Exchanges
N/A
Address
Fortune Industries Inc Fortune Industries, Inc. was incorporated in the state of Delaware in 1988, restructured in 2000 and redomesticated to the state of Indiana in May 2005. The Company provides full service human resources outsourcing services through co-employment relationships with their clients. Effective November 30, 2008, the Company approved the sale of all of the remaining operating subsidiaries within four of the five segments, as Wireless Infrastructure, Transportation Infrastructure, Ultraviolet Technologies, and Electronics Integration, to a related party. Consequently, as of the effective date of the transaction, the Business Solutions segment is the Company's remaining operating segment. The Business Solutions segment is comprised of Professional Employer Organizations (PEOs) which provide full-service human resources outsourcing services through co-employment relationships with their clients. Companies operating in the Business Solutions Segment include Professional Staff Management, Inc. and subsidiaries (PSM); CSM, Inc. and subsidiaries and related entities (CSM); Precision Employee Management, LLC (PEM); and Employer Solutions Group, Inc. and related entities (ESG). The Companies in the Business Solutions segment bill their clients under Professional Services Agreements as licensed PEOs. The billing includes amounts for the client's gross wages, payroll taxes, employee benefits, workers' compensation insurance and an administration fee. The administration fee charged by the companies in this segment is typically a percentage of the gross payroll and is sufficient to allow the companies in this segment to provide payroll administration services, human resources consulting services, worksite safety training, and employment regulatory compliance for no additional fees. The Companies in the Business Solutions segment compete with other PEOs, third-party payroll processing and human resources consulting companies, and in-house human resources divisions. The Company's Business Solutions segment is subject to various federal, state and local laws and regulations pertaining to various employee benefit plans, employee retirement plans, Section 125 cafeteria plans, group health plans, welfare benefit plans and health care flexible spending accounts.
Fortune Industries, (FRA:FD9A) Headlines
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