Synageva BioPharma (FRA:TMS1) ROC (Joel Greenblatt) % : -794.06% (As of Mar. 2015)

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What is Synageva BioPharma 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. Synageva BioPharma's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was -794.06%.

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

FRA:TMS1's ROC (Joel Greenblatt) % is not ranked ^*
in the Biotechnology industry.
Industry Median: -333.95
* Ranked among companies with meaningful ROC (Joel Greenblatt) % only.

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

Synageva BioPharma ROC (Joel Greenblatt) % Historical Data

The historical data trend for Synageva BioPharma'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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Synageva BioPharma ROC (Joel Greenblatt) % Chart

Synageva BioPharma Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

ROC (Joel Greenblatt) %

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-1,227.85

-2,157.01

-1,634.20

-896.29

-816.69

Synageva BioPharma Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															-711.27	-750.94	-639.14	-745.08	-794.06

Competitive Comparison of Synageva BioPharma's ROC (Joel Greenblatt) %

For the Biotechnology subindustry, Synageva BioPharma'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.

Synageva BioPharma's ROC (Joel Greenblatt) % Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Synageva BioPharma's ROC (Joel Greenblatt) % distribution charts can be found below:

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

Synageva BioPharma 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. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.8	+	0	+	8.06)	-	(19.736	+	0	+	0.736)
=	-11.612

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.856	+	0	+	8.472)	-	(24.838	+	0	+	0.897)
=	-16.407

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Synageva BioPharma for the quarter that ended in Mar. 2015 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-218.704	/	( ( (25.594 + max(-11.612, 0))	+	(29.491 + max(-16.407, 0)) )	/	2 )
=	-218.704	/	( ( 25.594	+	29.491 )	/	2 )
=	-218.704	/	27.5425
=	-794.06 %

Note: The EBIT data used here is four times the quarterly (Mar. 2015) EBIT data.

Synageva BioPharma (FRA:TMS1) 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.

Synageva BioPharma ROC (Joel Greenblatt) % Related Terms

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Synageva BioPharma (FRA:TMS1) Business Description

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Comparable Companies

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Address

Website

http://www.synageva.com

Synageva BioPharma Corp is incorporated in Delaware in 1993. On November 2, 2011, Trimeris, Inc., a Delaware corporation closed a merger transaction, Reverse Merger with Synageva BioPharma Corp., Pursuant to the Merger Agreement, Private Synageva became a wholly owned subsidiary of Trimeris. As a Reverse Merger, Trimeris changed its name to Synageva BioPharma Corp. The Company is a biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with rare diseases. The Company has several proteins therapeutic in its pipeline, including enzyme replacement therapies for lysosomal storage diseases (LSDs) and protein therapeutic programs for other rare diseases that are at the stage of preclinical development. Its program, sebelipase alfa is a recombinant human lysosomal acid lipase deficiency (LAL Deficiency), currently evaluating in global Phase 3 clinical trials in infants, children and adults with LAL Deficiency. LAL Deficiency is rare autosomal recessive LSD characterized by decreased LAL enzyme activity leading to intracellular accumulation of lipids. This disease leads to medical complications with significant morbidity and early mortality. Sebelipase alfa has been granted orphan designation by the FDA, the EMA, and the Japanese Ministry of Health, Labour and Welfare. Additionally, sebelipase alfa has received Fast Track Designation by the FDA, and Breakthrough Therapy designation by the FDA for LAL Deficiency presenting in infants. The Company has not yet received approval to market this product and is not currently commercializing any other products. Sebelipase alfa is a recombinant form of the human LAL enzyme under development as an enzyme replacement therapy for LAL Deficiency. The Company is currently enrolling and dosing Phase 3 Trial of Sebelipase Alfa in Children and Adults with LAL Deficiency. It is also pursuing a development strategy for sebelipase alfa to assess safety and tolerability in a broad population of patients, including infants, children, and adults, and to demonstrate efficacy, safety and tolerability of sebelipase alfa in the treatment of LAL Deficiency. Its potential competitors include large pharmaceutical and biotechnology companies and specialty pharmaceutical companies, academic institutions, government agencies, and research institutions. The preclinical studies and clinical testing, manufacture, labeling, storage, record keeping, advertising, promotion, export, and marketing, among other things, of its product candidates and future products, are subject to extensive regulation by governmental authorities in the U.S. and other countries.

Synageva BioPharma (FRA:TMS1) Headlines

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