China National Culture Group (HKSE:00745) ROC (Joel Greenblatt) % : -10.72% (As of Sep. 2023)

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What is China National Culture Group 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. China National Culture Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was -10.72%.

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

HKSE:00745' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -80156.38 Med: -3217.41 Max: 56147.65
Current: 35.85

During the past 13 years, China National Culture Group's highest ROC (Joel Greenblatt) % was 56147.65%. The lowest was -80156.38%. And the median was -3217.41%.

HKSE:00745's ROC (Joel Greenblatt) % is ranked better than
68.68% of 1041 companies
in the Media - Diversified industry
Industry Median: 10.3 vs HKSE:00745: 35.85

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

China National Culture Group ROC (Joel Greenblatt) % Historical Data

The historical data trend for China National Culture Group'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.

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China National Culture Group ROC (Joel Greenblatt) % Chart

China National Culture Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROC (Joel Greenblatt) %

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-80,156.38

-1,304.93

-152.18

55.87

13.48

China National Culture Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															-84.72	205.79	-114.29	103.33	-10.72

Competitive Comparison of China National Culture Group's ROC (Joel Greenblatt) %

For the Advertising Agencies subindustry, China National Culture Group'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.

China National Culture Group's ROC (Joel Greenblatt) % Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, China National Culture Group's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where China National Culture Group's ROC (Joel Greenblatt) % falls into.

China National Culture Group 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: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(43.276	+	0	+	0.052999999999997)	-	(12.838	+	0	+	3.387)
=	27.104

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(42.551	+	0	+	-7.105427357601E-15)	-	(11.462	+	0	+	0)
=	31.089

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of China National Culture Group for the quarter that ended in Sep. 2023 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-3.118	/	( ( (0 + max(27.104, 0))	+	(0 + max(31.089, 0)) )	/	2 )
=	-3.118	/	( ( 27.104	+	31.089 )	/	2 )
=	-3.118	/	29.0965
=	-10.72 %

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

China National Culture Group (HKSE:00745) 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.

China National Culture Group ROC (Joel Greenblatt) % Related Terms

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China National Culture Group (HKSE:00745) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » China National Culture Group Ltd (HKSE:00745) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

95 Queensway, Unit A, 29th FLoor, United Centre, Admiralty, Hong Kong, HKG

Website

http://www.cncg-media.com

China National Culture Group Ltd is a Hong Kong-based investment holding company engaged in advertising media services, e-commerce, film production, and distribution business. The company mainly operates through three segments. The Advertising segment is engaged in the provision of value-added services through mobile devices. The Movie segment is engaged in the production and distribution of films and the provision of other film-related services. The E-commerce segment is engaged in the sales of products on the Internet. The Advertising segment contributes to the majority of the business. Geographically, the company operates in Hong Kong, and China, of which key revenue is generated from China.

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