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Bioventus (Bioventus) ROC (Joel Greenblatt) % : 14.85% (As of Mar. 2024)


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What is Bioventus 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. Bioventus's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 14.85%.

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

BVS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -251.67   Med: 8.5   Max: 57.15
Current: 10.94

During the past 9 years, Bioventus's highest ROC (Joel Greenblatt) % was 57.15%. The lowest was -251.67%. And the median was 8.50%.

BVS's ROC (Joel Greenblatt) % is ranked better than
61.41% of 850 companies
in the Medical Devices & Instruments industry
Industry Median: -0.61 vs BVS: 10.94

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


Bioventus ROC (Joel Greenblatt) % Historical Data

The historical data trend for Bioventus'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.

Bioventus ROC (Joel Greenblatt) % Chart

Bioventus Annual Data
Trend Dec13 Dec14 Dec15 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only 57.15 52.13 15.62 -251.67 -90.64

Bioventus Quarterly Data
Dec18 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -355.51 17.82 6.01 5.58 14.85

Competitive Comparison of Bioventus's ROC (Joel Greenblatt) %

For the Medical Devices subindustry, Bioventus'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.


Bioventus's ROC (Joel Greenblatt) % Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Bioventus's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Bioventus 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. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(122.789 + 91.333 + 16.913) - (113.422 + 0 + 34.227)
=83.386

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(125.541 + 97.005 + 18.184) - (108.327 + 0 + 29.183)
=103.22

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Bioventus for the quarter that ended in Mar. 2024 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=21.056/( ( (49.958 + max(83.386, 0)) + (46.994 + max(103.22, 0)) )/ 2 )
=21.056/( ( 133.344 + 150.214 )/ 2 )
=21.056/141.779
=14.85 %

Note: The EBIT data used here is four times the quarterly (Mar. 2024) 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.


Bioventus  (NAS:BVS) 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.


Bioventus ROC (Joel Greenblatt) % Related Terms

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Bioventus (Bioventus) Business Description

Traded in Other Exchanges
N/A
Address
4721 Emperor Boulevard, Suite 100, Durham, NC, USA, 27703
Bioventus Inc is a medical technology company. The company is engaged in developing and commercializing clinically differentiated treatments that engage and enhance the body's natural healing process. It offers a diverse portfolio of products to serve physicians spanning the orthopedic continuum, including sports medicine, total joint reconstruction, hand and upper extremities, foot and ankle, podiatric surgery, trauma, spine and neurosurgery. Its portfolio of products is grouped into three verticals based on clinical use: Pain Treatments, Surgical Solutions, and Restorative Therapies. Geographical presence is in U.S and International markets.
Executives
Bihl Anthony P Iii director, officer: Interim CEO 807 SMITH RIDGE ROAD, NEW CANAAN CT 06840
John A. Bartholdson director, 10 percent owner C/O STONINGTON PARTNERS, INC., 540 MADISON AVENUE, 25TH FLOOR, NEW YORK NY 10022
Juniper Investment Company, Llc 10 percent owner 555 MADISON AVENUE, 24TH FLOOR, NEW YORK NY 10022-3315
Katrina J Church officer: SVP & Chief Compliance Officer 3290 WEST BAYSHORE ROAD, PALO ALTO CA 94303
Alexis P Michas 10 percent owner 940 WINTER STREET, C/O PERKINELMER, WALTHAM MA 02451
Juniper Targeted Opportunities, Lp 10 percent owner 555 MADISON AVENUE, 24TH FL, NEW YORK NY 10022
Juniper Targeted Opportunity Fund, L.p. 10 percent owner 555 MADISON AVENUE, 24TH FLOOR, NEW YORK NY 10022
William A Hawkins director MEDTRONIC INC, 710 MEDTRONIC PKWY, MS LC310, MINNEAPOLIS MN 55432-5604
Mark Leonard Singleton officer: SEE REMARKS C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 100, DURHAM NC 27703
Anthony D'adamio officer: SVP & General Counsel C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 400, DURHAM NC 27703
Kenneth Michael Reali director, officer: Chief Executive Officer 5213 ATHERTON BRIDGE ROAD, RALEIGH NC 27613
John Nosenzo officer: Chief Commercial Officer C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 400, DURHAM NC 27703
Alessandra Pavesio officer: SVP & Chief Science Officer C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 400, DURHAM NC 27703
Gregory O. Anglum officer: SVP and CFO C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 100, DURHAM NC 27703
Michelle Mcmurry-heath director C/O BIOVENTUS INC., 4721 EMPEROR BOULEVARD, SUITE 100, DURHAM NC 27703

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