Gaming and Leisure Properties (Gaming and Leisure Properties) ROC (Joel Greenblatt) % : 118.41% (As of Dec. 2023)

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What is Gaming and Leisure Properties 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. Gaming and Leisure Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 118.41%.

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

GLPI' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 24.2 Med: 107.89 Max: 367.87
Current: 131.34

During the past 13 years, Gaming and Leisure Properties's highest ROC (Joel Greenblatt) % was 367.87%. The lowest was 24.20%. And the median was 107.89%.

GLPI's ROC (Joel Greenblatt) % is ranked better than
52.36% of 573 companies
in the REITs industry
Industry Median: 114.29 vs GLPI: 131.34

Gaming and Leisure Properties's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -11.00% per year.

Gaming and Leisure Properties ROC (Joel Greenblatt) % Historical Data

The historical data trend for Gaming and Leisure Properties'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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Gaming and Leisure Properties ROC (Joel Greenblatt) % Chart

Gaming and Leisure Properties Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC (Joel Greenblatt) %

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367.87

310.42

138.23

77.55

61.73

Gaming and Leisure Properties Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROC (Joel Greenblatt) %	Get a 7-Day Free Trial															119.95	115.02	460.59	545.80	118.41

Competitive Comparison of Gaming and Leisure Properties's ROC (Joel Greenblatt) %

For the REIT - Specialty subindustry, Gaming and Leisure Properties'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.

Gaming and Leisure Properties's ROC (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Gaming and Leisure Properties's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Gaming and Leisure Properties's ROC (Joel Greenblatt) % falls into.

Gaming and Leisure Properties 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: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(98.161	+	298.329	+	0)
=	-396.49

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2023.606	+	0	+	0)	-	(97.575	+	284.893	+	5.6843418860808E-14)
=	1641.138

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Gaming and Leisure Properties for the quarter that ended in Dec. 2023 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1204.328	/	( ( (196.749 + max(-396.49, 0))	+	(196.254 + max(1641.138, 0)) )	/	2 )
=	1204.328	/	( ( 196.749	+	1837.392 )	/	2 )
=	1204.328	/	1017.0705
=	118.41 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Gaming and Leisure Properties (NAS:GLPI) 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.

Gaming and Leisure Properties ROC (Joel Greenblatt) % Related Terms

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Gaming and Leisure Properties (Gaming and Leisure Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Gaming and Leisure Properties Inc (NAS:GLPI) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

2GL:Germany

Address

845 Berkshire Boulevard, Suite 200, Wyomissing, PA, USA, 19610

Website

https://www.glpropinc.com

Gaming and Leisure Properties Inc, or GLP, is a real estate investment property trust primarily involved in the leasing of gaming and related facilities to wholly-owned subsidiaries of Penn National Gaming, or Penn, throughout the U.S. GLP segments its operations into GLP Capital and TRS Properties divisions. The company derives the vast majority of its revenue from its GLP Capital unit in the form of rental income from dockside and land-based casinos located mostly in the American Midwest. Almost all of GLP Capital's leases are long-term agreements that give Penn the option for future extensions. Gaming revenue generated by TRS Properties, which encompasses the operations of Hollywood Casino Perryville and Hollywood Casino Baton Rouge, also represents a significant income stream for GLP.

Executives

Steven Ladany	officer: SVP Chief Development Officer	845 BERKSHIRE BLVD., SUITE 200, WYOMISSING PA 19610
Brandon John Moore	officer: SVP & General Counsel	845 BERKSHIRE BLVD., SUITE 200, WYOMISSING PA 19610
Matthew Demchyk	officer: SVP, Investments	845 BERKSHIRE BOULEVARD, WYOMISSING PA 19610
Desiree A. Burke	officer: Chief Accounting Officer	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610
Barry F Schwartz	director	35 EAST 62ND ST, NEW YORK NY 10021
E Scott Urdang	director	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610
Joanne A. Epps	director, Director	C/O PENN, REAL ESTATE INVESTMENT TRUST, THE BELLEVUE, 200 S. BROAD STREET, PHILADELPHIA PA 19102
Earl C Shanks	director	CONVERGYS CORPORATION, 201 EAST FOURTH STREET, CINCINNATI OH 45202
Peter M Carlino	director, officer: CEO & President	845 BERKSHIRE BLVD, SUITE 200, WYOMISSING PA 19610
Carol Lynton	director	C/O EL POLLO HOLDINGS, INC., 3535 HARBOR BOULEVARD, SUITE 100, COSTA MESA CA 92626
Marshall Joseph W Iii	director	500 OFFICE CENTER DRIVE, SUITE 400, FT. WASHINGTON PA 19034
David A Handler	director	845 BERKSHIRE BLVD, SUITE 200, WYOMISSING PA 19610
William J Clifford	officer: CFO, Sec. & Treas.	845 BERKSHIRE BLVD. SUITE 200, WYOMISSING PA 19610
James Perry	director
Steven T. Snyder	officer: SR VP-Corp Development	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610