Solar Enertech (Solar Enertech) ROC (Joel Greenblatt) % : -97.19% (As of Dec. 2011)

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What is Solar Enertech 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. Solar Enertech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2011 was -97.19%.

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

SOEN's ROC (Joel Greenblatt) % is not ranked ^*
in the Semiconductors industry.
Industry Median: 9.015
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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

Solar Enertech ROC (Joel Greenblatt) % Historical Data

The historical data trend for Solar Enertech'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.

Solar Enertech ROC (Joel Greenblatt) % Chart

Solar Enertech Annual Data

Trend

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

ROC (Joel Greenblatt) %

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-387.64

-299.93

-95.18

-194.81

-15.92

Solar Enertech Quarterly Data
	Mar07	Jun07	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															174.93	-86.08	-80.04	-68.26	-97.19

Competitive Comparison of Solar Enertech's ROC (Joel Greenblatt) %

For the Solar subindustry, Solar Enertech'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.

Solar Enertech's ROC (Joel Greenblatt) % Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Solar Enertech's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Solar Enertech 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: Sep. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.715	+	2.189	+	0.703)	-	(9.058	+	1.599	+	0.0030000000000001)
=	-0.053000000000001

	Working Capital		(Q: Dec. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5.296	+	0.901	+	0.497)	-	(7.216	+	0.625	+	0)
=	-1.147

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Solar Enertech for the quarter that ended in Dec. 2011 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2011 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2011		Q: Dec. 2011
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-8.108	/	( ( (8.523 + max(-0.053000000000001, 0))	+	(8.162 + max(-1.147, 0)) )	/	2 )
=	-8.108	/	( ( 8.523	+	8.162 )	/	2 )
=	-8.108	/	8.3425
=	-97.19 %

Note: The EBIT data used here is four times the quarterly (Dec. 2011) EBIT data.

Solar Enertech (OTCPK:SOEN) 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.

Solar Enertech ROC (Joel Greenblatt) % Related Terms

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Solar Enertech (Solar Enertech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Solar Enertech Corp (OTCPK:SOEN) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

N/A

Address

655 West Evelyn Avenue, Suite 2, Mountain View, CA, USA, 94041

Website

http://www.solarenertech.com

Solar Enertech Corp currently operates as a photovoltaic solar energy cell manufacturer.

Executives

David Anthony	director	200 LUDLOW DRIVE, EWING NJ 08638
David Gelbaum	10 percent owner, other: Co-Trustee	2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660
Monica Chavez Gelbaum	10 percent owner, other: Co-Trustee	2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660
Quercus Trust	10 percent owner	2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660
Luxor Capital Group, Lp	10 percent owner	7 TIMES SQUARE, 43RD FLOOR, NEW YORK NY 10036
Lcg Select Llc	10 percent owner	767 FIFTH AVENUE, 19TH FLOOR, NEW YORK NY 10153
Lcg Select Offshore Ltd	10 percent owner	PO BOX 309GT UGLAND HOUSE SOUTH CHURCH S, GEORGE TOWN, GRAND CAYAMAN CAYMAN E9 00000

Solar Enertech (Solar Enertech) Headlines

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