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Nine Dragons Paper (Holdings) (HKSE:02689) ROC (Joel Greenblatt) % : 2.67% (As of Dec. 2023)


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What is Nine Dragons Paper (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. Nine Dragons Paper (Holdings)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.67%.

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

HKSE:02689' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1.83   Med: 8.38   Max: 19.8
Current: 0.55

During the past 13 years, Nine Dragons Paper (Holdings)'s highest ROC (Joel Greenblatt) % was 19.80%. The lowest was -1.83%. And the median was 8.38%.

HKSE:02689's ROC (Joel Greenblatt) % is ranked worse than
70.73% of 287 companies
in the Forest Products industry
Industry Median: 6 vs HKSE:02689: 0.55

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


Nine Dragons Paper (Holdings) ROC (Joel Greenblatt) % Historical Data

The historical data trend for Nine Dragons Paper (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.

Nine Dragons Paper (Holdings) ROC (Joel Greenblatt) % Chart

Nine Dragons Paper (Holdings) Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.59 9.89 14.69 5.47 -1.83

Nine Dragons Paper (Holdings) Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 9.06 2.27 -2.00 -1.63 2.67

Competitive Comparison of Nine Dragons Paper (Holdings)'s ROC (Joel Greenblatt) %

For the Paper & Paper Products subindustry, Nine Dragons Paper (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.


Nine Dragons Paper (Holdings)'s ROC (Joel Greenblatt) % Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Nine Dragons Paper (Holdings)'s ROC (Joel Greenblatt) % distribution charts can be found below:

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



Nine Dragons Paper (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: Jun. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3375.83 + 9686.164 + 5638.254) - (15374.349 + 0 + 496.99)
=2828.909

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3675.154 + 10293.417 + 6130.197) - (18218.147 + 0 + 490.475)
=1390.146

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Nine Dragons Paper (Holdings) for the quarter that ended in Dec. 2023 can be restated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2720.536/( ( (94730.197 + max(2828.909, 0)) + (105182.189 + max(1390.146, 0)) )/ 2 )
=2720.536/( ( 97559.106 + 106572.335 )/ 2 )
=2720.536/102065.7205
=2.67 %

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


Nine Dragons Paper (Holdings)  (HKSE:02689) 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.


Nine Dragons Paper (Holdings) ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Nine Dragons Paper (Holdings)'s ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Nine Dragons Paper (Holdings) (HKSE:02689) Business Description

Traded in Other Exchanges
Address
No.12, Xincheng Road, Songshan Lake High-Tech Industrial Development Zone, Guangdong Province, Dongguan, CHN
Nine Dragons Paper (Holdings) Ltd operates as a paper products manufacturer. The company predominantly produces liner board, corrugating medium, and coated duplex boards. In addition to packaging paperboard, the Group is also engaged in the production of printing and writing a paper in Dongguan and Taicang and the development of packaging paperboard and specialty paper production in Leshan, Sichuan Province. Substantial part of the company's revenues are generated from the sale of packaging paper and the rest from sales of printing and writing paper, high-value specialty paper products, and Pulp.
Executives
Zedra Jersey Trust Corporation Limited Formerly Bnp Paribas Jersey Trust Corporation Limited 2301 Trustee
Cheung Yan 2101 Beneficial owner
Liu Ming Chung 2101 Beneficial owner
Lau Chun Shun 2101 Beneficial owner
Bnp Paribas Jersey Trust Corporation Limited 2301 Trustee
Yc 2013 Company Limited 2201 Interest of corporation controlled by you

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