Lambrakis Press Group (ATH:DOL) ROC % : -10.37% (As of Sep. 2013)

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What is Lambrakis Press Group ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Lambrakis Press Group's annualized return on capital (ROC %) for the quarter that ended in Sep. 2013 was -10.37%.

As of today (2024-05-21), Lambrakis Press Group's WACC % is 0.00%. Lambrakis Press Group's ROC % is 0.00% (calculated using TTM income statement data). Lambrakis Press Group earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Lambrakis Press Group ROC % Historical Data

The historical data trend for Lambrakis Press Group's ROC % 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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Lambrakis Press Group ROC % Chart

Lambrakis Press Group Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

ROC %

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-0.19

-6.87

-18.66

-21.59

-10.86

Lambrakis Press Group Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
ROC %	Get a 7-Day Free Trial											-9.81	-15.73	-16.35	-2.23	-10.37

Lambrakis Press Group ROC % Calculation

Lambrakis Press Group's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2012 is calculated as:

	ROC % (A: Dec. 2012 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2011 )	+	Invested Capital (A: Dec. 2012 ))	/ count )
=	-22.761 * ( 1 - 2.39% )	/	( (205.87	+	203.228)	/ 2 )
=	-22.2170121	/	204.549
=	-10.86 %

where

	Invested Capital		(A: Dec. 2011 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	189.618	-	48.209	-	( 2.176	-	max(0, 141.924	-	77.463	+	2.176	))
=	205.87

	Invested Capital		(A: Dec. 2012 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	157.279	-	50.381	-	( 1.806	-	max(0, 150.951	-	54.621	+	1.806	))
=	203.228

Lambrakis Press Group's annualized Return on Capital (ROC %) for the quarter that ended in Sep. 2013 is calculated as:

	ROC % (Q: Sep. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2013 )	+	Invested Capital (Q: Sep. 2013 ))	/ count )
=	-20.788 * ( 1 - -1.42% )	/	( (202.147	+	204.452)	/ 2 )
=	-21.0831896	/	203.2995
=	-10.37 %

where

	Invested Capital		(Q: Jun. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	149.957	-	49.26	-	( 1.351	-	max(0, 153.105	-	51.655	+	1.351	))
=	202.147

	Invested Capital		(Q: Sep. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	144.998	-	55.059	-	( 1.513	-	max(0, 160.268	-	45.755	+	1.513	))
=	204.452

Note: The Operating Income data used here is four times the quarterly (Sep. 2013) data.

Lambrakis Press Group (ATH:DOL) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Lambrakis Press Group's WACC % is 0.00%. Lambrakis Press Group's ROC % is 0.00% (calculated using TTM income statement data). Lambrakis Press Group earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

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