Max Healthcare Institute (BOM:543220) ROC (Joel Greenblatt) % : 63.89% (As of Dec. 2023)

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What is Max Healthcare Institute 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. Max Healthcare Institute's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 63.89%.

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

BOM:543220' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.33 Med: 10.16 Max: 62.46
Current: 62.46

During the past 9 years, Max Healthcare Institute's highest ROC (Joel Greenblatt) % was 62.46%. The lowest was 5.33%. And the median was 10.16%.

BOM:543220's ROC (Joel Greenblatt) % is ranked better than
86.74% of 656 companies
in the Healthcare Providers & Services industry
Industry Median: 9.26 vs BOM:543220: 62.46

Max Healthcare Institute's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 51.40% per year.

Max Healthcare Institute ROC (Joel Greenblatt) % Historical Data

The historical data trend for Max Healthcare Institute'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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Max Healthcare Institute ROC (Joel Greenblatt) % Chart

Max Healthcare Institute Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROC (Joel Greenblatt) %

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10.35

13.55

9.78

43.25

52.99

Max Healthcare Institute Quarterly Data
	Mar18	Mar19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															58.48	55.30	58.03	64.58	63.89

Competitive Comparison of Max Healthcare Institute's ROC (Joel Greenblatt) %

For the Medical Care Facilities subindustry, Max Healthcare Institute'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.

Max Healthcare Institute's ROC (Joel Greenblatt) % Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Max Healthcare Institute's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Max Healthcare Institute 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. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4303.7	+	715.6	+	381.6)	-	(6030.3	+	0	+	4583.9)
=	-5213.3

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Max Healthcare Institute for the quarter that ended in Dec. 2023 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	14836.8	/	( ( (23223.1 + max(-5213.3, 0))	+	(0 + max(0, 0)) )	/	1 )
=	14836.8	/	( ( 23223.1	+	0 )	/	1 )
=	14836.8	/	23223.1
=	63.89 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Max Healthcare Institute (BOM:543220) 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.

Max Healthcare Institute ROC (Joel Greenblatt) % Related Terms

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Max Healthcare Institute (BOM:543220) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Max Healthcare Institute Ltd (BOM:543220) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

MAXHEALTH:India

Address

Capital Cyberscape, Sector-59, 2nd Floor, Gurugram, HR, IND, 122011

Website

https://www.maxhealthcare.in

Max Healthcare Institute Ltd is a health care service provider. The company's facilities include third party healthcare providers with whom the company has entered long term service contracts for providing clinical, radiology, and pathology services. Its hospitals provide the full range of services through its Outpatient, Day Care, Emergency Room, and In-Patient departments to accommodate medical specialties as orthopedics, internal medicine, general surgery, cardiac sciences, oncology, neurosciences, and obstetrics, as well as diagnostics. The group primarily derives revenue from India.

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