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KWPCF (Kewpie) ROC (Joel Greenblatt) % : 22.17% (As of May. 2024)


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What is Kewpie 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. Kewpie's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2024 was 22.17%.

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

KWPCF' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.86   Med: 14.77   Max: 19.11
Current: 19.11

During the past 13 years, Kewpie's highest ROC (Joel Greenblatt) % was 19.11%. The lowest was 9.86%. And the median was 14.77%.

KWPCF's ROC (Joel Greenblatt) % is ranked better than
65.06% of 1912 companies
in the Consumer Packaged Goods industry
Industry Median: 12.135 vs KWPCF: 19.11

Kewpie's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -1.90% per year.


Kewpie ROC (Joel Greenblatt) % Historical Data

The historical data trend for Kewpie'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.

Kewpie ROC (Joel Greenblatt) % Chart

Kewpie Annual Data
Trend Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 14.48 10.06 13.10 13.28 11.53

Kewpie Quarterly Data
Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24
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 19.01 10.46 18.81 22.17 26.84

Competitive Comparison of Kewpie's ROC (Joel Greenblatt) %

For the Packaged Foods subindustry, Kewpie'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.


Kewpie's ROC (Joel Greenblatt) % Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Kewpie's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Kewpie 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: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(398.235 + 276.249 + 30.746) - (225.646 + 0 + 177.221)
=302.363

Working Capital(Q: May. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(424.119 + 253.617 + 22.268) - (258.287 + 0 + 195.543)
=246.174

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Kewpie for the quarter that ended in May. 2024 can be restated as:

ROC (Joel Greenblatt) %(Q: May. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Feb. 2024  Q: May. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=271.38/( ( (958.721 + max(302.363, 0)) + (940.597 + max(246.174, 0)) )/ 2 )
=271.38/( ( 1261.084 + 1186.771 )/ 2 )
=271.38/1223.9275
=22.17 %

Note: The EBIT data used here is four times the quarterly (May. 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.


Kewpie  (OTCPK:KWPCF) 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.


Kewpie ROC (Joel Greenblatt) % Related Terms

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Kewpie Business Description

Traded in Other Exchanges
Address
4-13, Shibuya 1-chome, Shibuya-ku, Tokyo, JPN, 150-0002
Kewpie Corp is a Japanese packaged-food company. Its business categories are condiments products, egg products, delicatessen products, processed foods, and fine chemical products. Through these business segments, the company offers dressing, vinegar, mayonnaise, liquid egg, frozen egg, rice balls, jams, pasta sauces, sweetcorn, baby food, and hyaluronic acid. The company has its own transportation and warehousing operations. Kewpie has operations in Japan and overseas in China, the United States, and Southeast Asia.

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