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ISHAQ.PFD (International Shipholding) ROC (Joel Greenblatt) % : -10.75% (As of Mar. 2016)


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What is International Shipholding 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. International Shipholding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2016 was -10.75%.

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

ISHAQ.PFD' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -52.93   Med: 6.49   Max: 18.18
Current: -51.86

During the past 13 years, International Shipholding's highest ROC (Joel Greenblatt) % was 18.18%. The lowest was -52.93%. And the median was 6.49%.

ISHAQ.PFD's ROC (Joel Greenblatt) % is not ranked
in the Transportation industry.
Industry Median: 12.79 vs ISHAQ.PFD: -51.86

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


International Shipholding ROC (Joel Greenblatt) % Historical Data

The historical data trend for International Shipholding'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.

International Shipholding ROC (Joel Greenblatt) % Chart

International Shipholding Annual Data
Trend Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.63 7.22 3.94 -8.18 -53.35

International Shipholding Quarterly Data
Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16
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 -2.83 1.65 -3.80 -202.01 -10.75

Competitive Comparison of International Shipholding's ROC (Joel Greenblatt) %

For the Marine Shipping subindustry, International Shipholding'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.


International Shipholding's ROC (Joel Greenblatt) % Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, International Shipholding's ROC (Joel Greenblatt) % distribution charts can be found below:

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



International Shipholding 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. 2015 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(25.787 + 7.035 + 62.768) - (59.456 + 0 + 1.04)
=35.094

Working Capital(Q: Mar. 2016 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23.352 + 6.839 + 20.191) - (65.124 + 0 + 0)
=-14.742

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of International Shipholding for the quarter that ended in Mar. 2016 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2016 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2015  Q: Mar. 2016
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-21.796/( ( (188.577 + max(35.094, 0)) + (181.72 + max(-14.742, 0)) )/ 2 )
=-21.796/( ( 223.671 + 181.72 )/ 2 )
=-21.796/202.6955
=-10.75 %

Note: The EBIT data used here is four times the quarterly (Mar. 2016) 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.


International Shipholding  (OTCPK:ISHAQ.PFD) 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.


International Shipholding ROC (Joel Greenblatt) % Related Terms

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International Shipholding Business Description

Traded in Other Exchanges
N/A
Address
International Shipholding Corp was originally founded as Central Gulf Steamship Corporation in 1947. Central Gulf was privately held until 1971 when it merged with Trans Union Corporation ("Trans Union"). In 1978, International Shipholding Corporation was formed to act as a holding company for Central Gulf, LCI, and certain other affiliated companies in connection with the 1979 spin off by Trans Union of its common stock to Trans Union's stockholders. Through its subsidiaries, it operates a fleet of U.S. and International Flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers under medium to long-term time charters or contracts of affreightment. As of December 31, 2014 it owned or operated 54 ocean-going vessels. Its segments include Jones Act, Pure Car Truck Carriers, Dry Bulk Carriers, Rail-Ferry, Specialty Contracts, and Other. Its Rail-Ferry segment faces competition from companies who transport cargo over land rather than water including railroads and trucking companies that cross land borders. The Company's operations between the United States and foreign countries are subject to the Shipping Act of 1984, which is administered by the Federal Maritime Commission, and certain provisions of the Federal Water Pollution Control Act, the Oil Pollution Act of 1990, the Act to Prevent Pollution from Ships, and the Comprehensive Environmental Response Compensation and Liability Act, all of which are administered by the U.S. Coast Guard and other federal agencies, and certain other international, federal, state, and local laws and regulations, including international conventions and laws and regulations of the flag nations of its vessels.