Tel Offshore Trust (Tel Offshore Trust) ROC (Joel Greenblatt) % : -127.17% (As of Mar. 2017)

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What is Tel Offshore Trust 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. Tel Offshore Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2017 was -127.17%.

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

TELOZ's ROC (Joel Greenblatt) % is not ranked ^*
in the Oil & Gas industry.
Industry Median: 10.505
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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

Tel Offshore Trust ROC (Joel Greenblatt) % Historical Data

The historical data trend for Tel Offshore Trust'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.

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Tel Offshore Trust ROC (Joel Greenblatt) % Chart

Tel Offshore Trust Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

ROC (Joel Greenblatt) %

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-8,214.81

-4,790.48

152.87

Tel Offshore Trust Quarterly Data
	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															-6,682.35	-	-	307.74	-127.17

Competitive Comparison of Tel Offshore Trust's ROC (Joel Greenblatt) %

For the Oil & Gas E&P subindustry, Tel Offshore Trust'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.

Tel Offshore Trust's ROC (Joel Greenblatt) % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Tel Offshore Trust's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Tel Offshore Trust 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. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.451)	-	(0	+	0.068	+	0)
=	1.383

	Working Capital		(Q: Mar. 2017 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.097)	-	(0	+	0.253	+	0)
=	0.844

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Tel Offshore Trust for the quarter that ended in Mar. 2017 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2017 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2016		Q: Mar. 2017
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-1.416	/	( ( (0 + max(1.383, 0))	+	(0 + max(0.844, 0)) )	/	2 )
=	-1.416	/	( ( 1.383	+	0.844 )	/	2 )
=	-1.416	/	1.1135
=	-127.17 %

Note: The EBIT data used here is four times the quarterly (Mar. 2017) EBIT data.

Tel Offshore Trust (OTCPK:TELOZ) 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.

Tel Offshore Trust ROC (Joel Greenblatt) % Related Terms

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Tel Offshore Trust (Tel Offshore Trust) Business Description

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Address

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Tel Offshore Trust was created under the laws of the State of Texas in 1983 and maintains its offices at the office of The Bank of New York Mellon Trust Company, N.A. The main asset of the Trust consists of a 99.99% interest in the TEL Offshore Trust Partnership and royalty interest in various oil and gas properties located offshore of Louisiana. The Trustees distribute the Trust's income pro rata for each calendar quarter within 10 days after the end of each calendar quarter. Distributions of the Trust's income are made to Unit holders of record on the Quarterly Record Date, which is the last business day of each quarterly period, or such later date as the Trustees determine is required to comply with legal requirements. Each Unit is evidenced by a transferable certificate issued by the Corporate Trustee. Each unit ranks equally as to distributions, has one vote on any matter submitted to Unit holders and represents an undivided interest in the Trust, which in turn owns a 99.99% interest in the Partnership. Within 90 days of the close of each year, the net federal taxable income of the Trust for each quarterly period ending in such year is reported by the Trustees for federal tax purposes to the Unit holder of record to whom the Quarterly Income Amount was distributed.

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