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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. Winnebago Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2024 was -11.40%.
The historical rank and industry rank for Winnebago Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
During the past 13 years, Winnebago Industries's highest ROC (Joel Greenblatt) % was 107.07%. The lowest was 8.35%. And the median was 50.76%.
Winnebago Industries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -21.10% per year.
The historical data trend for Winnebago Industries'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.
Winnebago Industries Annual Data | |||||||||||||||||||||
Trend | Aug15 | Aug16 | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | Aug24 | |||||||||||
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | 36.02 | 107.07 | 106.55 | 47.29 | 8.76 |
Winnebago Industries Quarterly Data | ||||||||||||||||||||
Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | May24 | Aug24 | |
ROC (Joel Greenblatt) % | Get a 7-Day Free Trial | 34.30 | 21.99 | -0.16 | 22.58 | -11.40 |
For the Recreational Vehicles subindustry, Winnebago Industries'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 Vehicles & Parts industry and Consumer Cyclical sector, Winnebago Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Winnebago Industries'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: May. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (199.3 | + | 441.5 | + | 24.8) | - | (285 | + | 0 | + | 57.8) |
= | 322.8 |
Working Capital | (Q: Aug. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (183.5 | + | 438.7 | + | 35.6) | - | (288.8 | + | 0 | + | 56.8) |
= | 312.2 |
When net working capital is negative, 0 is used.
So ROC (Joel Greenblatt) % of Winnebago Industries for the quarter that ended in Aug. 2024 can be restated as:
ROC (Joel Greenblatt) % | (Q: Aug. 2024 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: May. 2024 | Q: Aug. 2024 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | -80 | / | ( ( (383.6 + max(322.8, 0)) | + | (385.5 + max(312.2, 0)) ) | / | 2 ) |
= | -80 | / | ( ( 706.4 | + | 697.7 ) | / | 2 ) |
= | -80 | / | 702.05 | ||||
= | -11.40 % |
Note: The EBIT data used here is four times the quarterly (Aug. 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.
Winnebago Industries (NYSE:WGO) 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 Winnebago Industries's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Stacy L Bogart | officer: VP-General Counsel & Secretary | 13200 PIONEER TRAIL, EDEN PRAIRIE MN 55347 |
Christopher David West | officer: VP - Operations | N60W27221 TRAPPERS RUN, SUSSEX WI 53089 |
Richard D Moss | director | 1715 WEST 38TH STREET, CHATTANOOGA TN 37409 |
William C. Fisher | director | 2100 HIGHWAY 55, MEDINA MN 55340 |
Ashis Nayan Bhattacharya | officer: VP Strategic Development & Pla | 6341 URBANDALE LANE NORTH, MAPLE GROVE MN 55311 |
Staci L Kroon | director | 13200 PIONEER TRAIL, EDEN PRAIRIE MN 55347 |
Donald Jeff Clark | officer: President & CEO Grand Design | 13429 WOODED KNOLL TRAIL, MIDDLEBURY IN 46540 |
Casey J Tubman | officer: PRESIDENT, NEWMAR CORPORATION | 13200 PIONEER TRAIL, EDEN PRAIRIE MN 55347 |
Maria Favlana Blase | director | PO BOX 152, FOREST CITY IA 50436 |
Jacqueline D. Woods | director | PO BOX 152, FOREST CITY IA 50436 |
Kevin E. Bryant | director | C/O EVERGY, INC., 1200 MAIN STREET, KANSAS CITY MO 64105 |
Matthew L. Miller | officer: VP, WGO, President, Newmar | P.O. BOX 152, FOREST CITY IA 50436 |
Bret A Woodson | officer: VP-Administration | P.O. BOX 152, FOREST CITY IA 50436 |
Huw Bower | officer: President, Winnebago Outdoors | C/O BRUNSWICK CORPORATION, 1 N FIELD COURT, LAKE FOREST IL 60045 |
Michael J Happe | director, officer: CEO & President | P.O. BOX 152, FOREST CITY IA 50436 |
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