URS (FRA:URS) ROC (Joel Greenblatt) % : 94.36% (As of Jun. 2014)

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What is URS 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. URS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was 94.36%.

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

FRA:URS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 23.01 Med: 33.9 Max: 52.03
Current: 25.59

During the past 13 years, URS's highest ROC (Joel Greenblatt) % was 52.03%. The lowest was 23.01%. And the median was 33.90%.

FRA:URS's ROC (Joel Greenblatt) % is not ranked
in the Construction industry.
Industry Median: 18 vs FRA:URS: 25.59

URS's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -7.40% per year.

URS ROC (Joel Greenblatt) % Historical Data

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

URS Annual Data

Trend

Oct04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

ROC (Joel Greenblatt) %

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74.04

53.22

23.07

45.43

29.39

URS Quarterly Data
	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															27.49	34.21	21.35	26.18	94.36

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

For the Engineering & Construction subindustry, URS'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.

URS's ROC (Joel Greenblatt) % Distribution in the Construction Industry

For the Construction industry and Industrials sector, URS's ROC (Joel Greenblatt) % distribution charts can be found below:

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

URS 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: Mar. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(956.529	+	0	+	177.135)	-	(791.685	+	0	+	417.171)
=	-75.192

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(967.84	+	0	+	170.016)	-	(894.24	+	0	+	404.064)
=	-160.448

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of URS for the quarter that ended in Jun. 2014 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2014		Q: Jun. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	409.216	/	( ( (431.631 + max(-75.192, 0))	+	(435.712 + max(-160.448, 0)) )	/	2 )
=	409.216	/	( ( 431.631	+	435.712 )	/	2 )
=	409.216	/	433.6715
=	94.36 %

Note: The EBIT data used here is four times the quarterly (Jun. 2014) EBIT data.

URS (FRA:URS) 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.

URS ROC (Joel Greenblatt) % Related Terms

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URS (FRA:URS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » URS Corp (FRA:URS) » Definitions » ROC (Joel Greenblatt) %

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Traded in Other Exchanges

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Address

Website

http://www.urscorp.com

URS Corporation was originally incorporated in California on May 1, 1957 under the former name of Broadview Research Corporation. On May 18, 1976, it re-incorporated in Delaware under the name URS Corporation. After several additional name changes, it re-adopted the name 'URS Corporation' on February 21, 1990. The Company is an international provider of engineering, construction and technical services. It offers a range of program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to public agencies and private sector clients around the world. It is also a U.S. federal government contractor in the areas of systems engineering and technical assistance, and operations and maintenance. The Company expertise is focused in four market sectors: power, infrastructure, federal, and industrial and commercial. Within these markets, it offers a broad range of services, including program management; planning, design and engineering; systems engineering and technical assistance; IT services; construction and construction management; operations and maintenance; and decommissioning and closure. In the power sector, the Company plans, designs, engineers, constructs, retrofits and maintains a wide range of power-generating facilities, as well as the systems that transmit and distribute electricity. Its services include planning, siting and licensing, permitting, engineering, procurement, construction and construction management, facility start-up, operations and maintenance, upgrades and modifications, and decommissioning and closure. It provides these services to utilities, industrial co-generators, independent power producers, original equipment manufacturers and government utilities. In the infrastructure sector, the Company plans, designs, engineers, constructs, retrofits and maintains a wide range of power-generating facilities, as well as the systems that transmit and distribute electricity. Its services include planning, siting and licensing, permitting, engineering, procurement, construction and construction management, facility start-up, operations and maintenance, upgrades and modifications, and decommissioning and closure. As a contractor to the U.S. federal government and national governments of other countries, it serves a wide variety of government departments and agencies, including the DOD, DHS, Department of Energy, as well as the General Services Administration, the Environmental Protection Agency, NASA and other federal agencies. The Company's services range from program management; planning, design and engineering; systems engineering and technical assistance; and IT services to construction and construction management; operations and maintenance; and decommissioning and closure. In industrial and commercial sector it provides a wide range of engineering, procurement and construction services for new industrial and commercial

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