GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Mani Inc (TSE:7730) » Definitions » ROC (Joel Greenblatt) %

Mani (TSE:7730) ROC (Joel Greenblatt) % : 33.71% (As of Feb. 2024)


View and export this data going back to 2001. Start your Free Trial

What is Mani 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. Mani's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 33.71%.

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

TSE:7730' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 26.59   Med: 32.77   Max: 52.92
Current: 37.9

During the past 13 years, Mani's highest ROC (Joel Greenblatt) % was 52.92%. The lowest was 26.59%. And the median was 32.77%.

TSE:7730's ROC (Joel Greenblatt) % is ranked better than
85.29% of 850 companies
in the Medical Devices & Instruments industry
Industry Median: -0.61 vs TSE:7730: 37.90

Mani's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -0.90% per year.


Mani ROC (Joel Greenblatt) % Historical Data

The historical data trend for Mani'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.

* Premium members only.

Mani ROC (Joel Greenblatt) % Chart

Mani Annual Data
Trend Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 52.92 29.30 32.42 36.16 36.12

Mani Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 32.64 41.08 39.36 38.74 33.71

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

For the Medical Instruments & Supplies subindustry, Mani'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.


Mani's ROC (Joel Greenblatt) % Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Mani's ROC (Joel Greenblatt) % distribution charts can be found below:

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



Mani 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: Nov. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2380 + 6382 + 688) - (2259 + 0 + 2033)
=5158

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2474 + 6535 + 572) - (2089 + 0 + 1513)
=5979

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Mani for the quarter that ended in Feb. 2024 can be restated as:

ROC (Joel Greenblatt) %(Q: Feb. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2023  Q: Feb. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=8812/( ( (20470 + max(5158, 0)) + (20667 + max(5979, 0)) )/ 2 )
=8812/( ( 25628 + 26646 )/ 2 )
=8812/26137
=33.71 %

Note: The EBIT data used here is four times the quarterly (Feb. 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.


Mani  (TSE:7730) 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.


Mani ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Mani's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Mani (TSE:7730) Business Description

Traded in Other Exchanges
N/A
Address
8-3 Kogyodanchi, Tochigi, JPN
Mani, Inc. manufactures medical devices and dental instruments. It sells products in four categories: surgical instruments, ophthalmic instruments, suture needles, and dental instruments. Mani's surgical products include instruments such as staplers, vessel knives, and bone saws. Its ophthalmic instruments include a range of knives used during eye surgery and ophthalmic sutures. Mani's suture needles business includes a variety of taper point and cutting eyeless needles, which require suture attachment and sterilization by the customer, as well as stainless-steel eyed needles. The firm's dental instruments include endodontic instruments and accessories, root canal equipment, and finishing and polishing instruments.

Mani (TSE:7730) Headlines

No Headlines