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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. Income Opportunity Realty Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 5.58%.
The historical rank and industry rank for Income Opportunity Realty Investors's ROC (Joel Greenblatt) % or its related term are showing as below:
During the past 13 years, Income Opportunity Realty Investors's highest ROC (Joel Greenblatt) % was 8.38%. The lowest was 3.61%. And the median was 5.01%.
Income Opportunity Realty Investors's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 6.70% per year.
The historical data trend for Income Opportunity Realty Investors'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.
Income Opportunity Realty Investors Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | 5.93 | 4.28 | 3.61 | 5.07 | 8.33 |
Income Opportunity Realty Investors Quarterly Data | ||||||||||||||||||||
Jun19 | 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 | 5.27 | 9.08 | 8.00 | 10.90 | 5.58 |
For the Mortgage Finance subindustry, Income Opportunity Realty Investors'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.
For the Banks industry and Financial Services sector, Income Opportunity Realty Investors's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Income Opportunity Realty Investors's ROC (Joel Greenblatt) % falls into.
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) |
= | (106.541 | + | 0 | + | 0) | - | (0 | + | 0 | + | 0) |
= | 106.541 |
Working Capital | (Q: Mar. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (107.272 | + | 0 | + | 0) | - | (0.003 | + | 0 | + | 0) |
= | 107.269 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Income Opportunity Realty Investors 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 ) |
= | 5.964 | / | ( ( (0 + max(106.541, 0)) | + | (0 + max(107.269, 0)) ) | / | 2 ) |
= | 5.964 | / | ( ( 106.541 | + | 107.269 ) | / | 2 ) |
= | 5.964 | / | 106.905 | ||||
= | 5.58 % |
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.
Income Opportunity Realty Investors (AMEX:IOR) 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.
Thank you for viewing the detailed overview of Income Opportunity Realty Investors's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Rl S Lemke | director, officer: Vice President | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
Transcontinental Realty Investors Inc | 10 percent owner | 1603 LBJ FREEWAY, SUITE 800, DALLAS TX 75234 |
Gene S Bertcher | officer: EVP & Chief Acctg. Officer | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
David R. Fletcher | officer: EVP & CFO | C/O SOC TELEMED, INC., 1768 BUSINESS CENTER DRIVE, SUITE 100, RESTON VA 20190 |
Daniel J Moos | officer: President & COO | 1603 LBJ FREEWAY, SUITE 800, DALLAS TX 75234 |
Martha C Stephens | director | 248 SIMMONS, DRIVE, COPPELL TX 75019 |
Reagan K Vidal | officer: Ex VP Mg Dir Capital Markets | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
Alfred Crozier | officer: EVP | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
Robert Neil Crouch | director | 1755 WITTINGTON PLACE, SUITE 340, DALLAS TX 75234 |
Canon James D Iii | officer: Exec. V.P.-Multi-Family Const. | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
Income Opportunity Realty Investors Inc /tx/ | officer: Exec.V.P.-Multi-Family Const | 1603 LBJ FREEWAY, SUITE 800, DALLAS TX 75234 |
Steven A Abney | director | 225 NE MIZNER BLVD STE 200, BOCA RATON FL 33432 |
Jay C Lowenberg | officer: Executive VP & CFO | 1800 VALLEY VIEW LANE, SUITE 300, DALLAS TX 75234 |
Ronald E Kimbrough | officer: Executive VP & CFO | 1800 VALLEY VIEW LANE, DALLAS TX 75234 |
Syntek Acquisition Corp. | 10 percent owner | 1755 WITTINGTON, DALLAS TX 75234 |
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