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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. Healthcare Triangle's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -17,745.45%.
The historical rank and industry rank for Healthcare Triangle's ROC (Joel Greenblatt) % or its related term are showing as below:
During the past 5 years, Healthcare Triangle's highest ROC (Joel Greenblatt) % was 3973.81%. The lowest was -810.87%. And the median was -132.31%.
Healthcare Triangle's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The historical data trend for Healthcare Triangle'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.
Healthcare Triangle Annual Data | |||||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||
ROC (Joel Greenblatt) % | 3,973.81 | 817.33 | -132.31 | -182.41 | -810.87 |
Healthcare Triangle Quarterly Data | |||||||||||||||||
Dec19 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | -555.16 | -258.04 | -265.97 | -2,611.18 | -17,745.45 |
For the Health Information Services subindustry, Healthcare Triangle'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.
For the Healthcare Providers & Services industry and Healthcare sector, Healthcare Triangle's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Healthcare Triangle's ROC (Joel Greenblatt) % falls into.
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. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (3.236 | + | 0 | + | 1.259) | - | (1.953 | + | 0 | + | 2.741) |
= | -0.199 |
Working Capital | (Q: Mar. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (2.095 | + | 0 | + | 0.773) | - | (2.013 | + | 0 | + | 2.187) |
= | -1.332 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Healthcare Triangle for the quarter that ended in Mar. 2024 can be restated as:
ROC (Joel Greenblatt) % | (Q: Mar. 2024 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Dec. 2023 | Q: Mar. 2024 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | -6.832 | / | ( ( (0.044 + max(-0.199, 0)) | + | (0.033 + max(-1.332, 0)) ) | / | 2 ) |
= | -6.832 | / | ( ( 0.044 | + | 0.033 ) | / | 2 ) |
= | -6.832 | / | 0.0385 | ||||
= | -17,745.45 % |
Note: The EBIT data used here is four times the quarterly (Mar. 2024) 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.
Healthcare Triangle (NAS:HCTI) 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.
Thank you for viewing the detailed overview of Healthcare Triangle's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Roy Sookhoo | director | 7901 STONERIDGE DR., SUITE 220, PLEASANTON CA 94588 |
Ronald W. Mcclurg | director | C/O NEUROONE MEDICAL TECHNOLOGIES CORP, 7599 ANAGRAM DR, EDEN PRAIRIE MN 55344 |
Paige Heaphy | director | 7901 STONERIDGE DR., SUITE 220, PLEASANTON CA 94588 |
Mohammad Jainal Bhuiyan | director | 10605 SW 44TH CT, DAVIE FL 33328 |
Jeffrey S Mathiesen | director | 43334 SEVEN MILE RD., SUITE 1000, NORTHVILLE MI 48167 |
Shibu Kizhakevilayil | director | 4309 HACIENDA DRIVE, SUITE 150, PLEASANTON CA 94588 |
April Bjornstad | director | 7901 STONERIDGE DRIVE, SUITE 220, PLEASANTON CA 94588 |
Thyagarajan Ramachandran | officer: Chief Financial Officer | 4309 HACIENDA DR., SUITE 150, PLEASANTON CA 94588 |
Brendan Gallagher | director | 4309 HACIENDA DR., SUITE 150, PLEASANTON CA 94588 |
James Michael Gill | officer: Vice President, Finance | 4309 HACIENDA DR., SUITE 150, PLEASANTON CA 94588 |
Mogli Sudish | officer: Chief Technology Officer | 4309 HACIENDA DRIVE, SUITE 150, PLEASANTON CA 94588 |
Vivek Prakash | director | 4309 HACIENDA DRIVE, SUITE 150, PLEASANTON CA 94588 |
Securekloud Technologies, Inc. | 10 percent owner | 401 RYLAND ST, STE 200-A, RENO NV 89502 |
Lakshmanan Kannappan | director | 4309 HACIENDA DRIVE, SUITE 150, PLEASANTON CA 94588 |
Anand Kumar | officer: Vice President, Sales | 4309 HACIENDA DR., SUITE 150, PLEASANTON CA 94588 |
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