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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. Brookfield Oaktree Holdings LLC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 was 111.96%.
The historical rank and industry rank for Brookfield Oaktree Holdings LLC's ROC (Joel Greenblatt) % or its related term are showing as below:
During the past 11 years, Brookfield Oaktree Holdings LLC's highest ROC (Joel Greenblatt) % was 27382.34%. The lowest was 437.55%. And the median was 19847.32%.
Brookfield Oaktree Holdings LLC's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The historical data trend for Brookfield Oaktree Holdings LLC'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.
Brookfield Oaktree Holdings LLC Annual Data | |||||||||||||||||||||
Trend | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | - | - | - | - | - |
Brookfield Oaktree Holdings LLC Quarterly Data | ||||||||||||||||||||
Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | |
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | - | - | 858.93 | 622.65 | 111.96 |
For the Asset Management subindustry, Brookfield Oaktree Holdings LLC'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 Asset Management industry and Financial Services sector, Brookfield Oaktree Holdings LLC's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Brookfield Oaktree Holdings LLC'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: Jun. 2019 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (0 | + | 0 | + | 227.79) | - | (775.517 | + | 0 | + | 283.512) |
= | -831.239 |
Working Capital | (Q: Sep. 2019 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (76.106 | + | 0 | + | 174.967) | - | (880.176 | + | 0 | + | 245.178) |
= | -874.281 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Brookfield Oaktree Holdings LLC for the quarter that ended in Sep. 2019 can be restated as:
ROC (Joel Greenblatt) % | (Q: Sep. 2019 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Jun. 2019 | Q: Sep. 2019 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 175.132 | / | ( ( (105.767 + max(-831.239, 0)) | + | (207.078 + max(-874.281, 0)) ) | / | 2 ) |
= | 175.132 | / | ( ( 105.767 | + | 207.078 ) | / | 2 ) |
= | 175.132 | / | 156.4225 | ||||
= | 111.96 % |
Note: The EBIT data used here is four times the quarterly (Sep. 2019) 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.
Brookfield Oaktree Holdings LLC (NYSE:OAKpB.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.
Thank you for viewing the detailed overview of Brookfield Oaktree Holdings LLC's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Mansco Iii Perry | director | 333 S. GRAND AVE., 28TH FL, LOS ANGELES CA 90071 |
Depelsha Thomas Mcgruder | director | 333 S. GRAND AVE., 28TH FLOOR, C/O OAKTREE CAPITAL MANAGEMENT, LOS ANGELES CA 90071 |
Bruce Flatt | director | C/O BROOKFIELD ASSET MANAGEMENT INC., 181 BAY STREET, P.O. BOX 762, TORONTO A6 M5J2T3 |
Justin B. Beber | director | C/O BROOKFIELD ASSET MANAGEMENT INC., BROOKFIELD PLACE, 181 BAY ST., STE. 300, TORONTO A6 M5J 2T3 |
Daniel D Levin | officer: See Remarks | 333 S. GRAND AVENUE, 28 TH FLOOR, LOS ANGELES CA 90071 |
Steven J Gilbert | director | 540 MADISON AVE, 40TH FL, NEW YORK NY 10022 |
Jay S Wintrob | director, officer: Chief Executive Officer | 333 S. GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
Robert E Denham | director | MUNGER, TOLLES & OLSON LLP, 355 S. GRAND AVENUE, 35TH FLOOR, LOS ANGELES CA 90071 |
Wayne G Pierson | director | C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
Marna C Whittington | director | 2959 BARLEY MILL ROAD, YORKLYN DE 19736 |
David Richard Masson | director | 333 S GRAND AVENUE 28TH FL, LOS ANGELES CA 90071 |
Scott L Graves | officer: Managing Director | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
Caleb S Kramer | officer: Managing Director | 333 SOUTH GRAND AVE 28TH FL, LOS ANGELES CA 90071 |
Larry W Keele | director | C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
Todd E Molz | officer: See Remarks | C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
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