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IDXX (IDEXX Laboratories) ROC (Joel Greenblatt) % : 87.13% (As of Jun. 2024)


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What is IDEXX Laboratories 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. IDEXX Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 87.13%.

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

IDXX' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 59.59   Med: 89.83   Max: 115.23
Current: 89.56

During the past 13 years, IDEXX Laboratories's highest ROC (Joel Greenblatt) % was 115.23%. The lowest was 59.59%. And the median was 89.83%.

IDXX's ROC (Joel Greenblatt) % is ranked better than
93.75% of 224 companies
in the Medical Diagnostics & Research industry
Industry Median: -15.97 vs IDXX: 89.56

IDEXX Laboratories's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 2.10% per year.


IDEXX Laboratories ROC (Joel Greenblatt) % Historical Data

The historical data trend for IDEXX Laboratories'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.

IDEXX Laboratories ROC (Joel Greenblatt) % Chart

IDEXX Laboratories Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 84.04 92.00 115.23 91.96 96.50

IDEXX Laboratories Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 96.70 88.99 82.36 99.90 87.13

Competitive Comparison of IDEXX Laboratories's ROC (Joel Greenblatt) %

For the Diagnostics & Research subindustry, IDEXX Laboratories'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.


IDEXX Laboratories's ROC (Joel Greenblatt) % Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, IDEXX Laboratories's ROC (Joel Greenblatt) % distribution charts can be found below:

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



IDEXX Laboratories 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. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(507.208 + 390.599 + 135.699) - (458.085 + 38.193 + 116.339)
=420.889

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(533.606 + 379.958 + 138.756) - (514.519 + 37.998 + 124.018)
=375.785

When net working capital is negative, 0 is used.

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

ROC (Joel Greenblatt) %(Q: Jun. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2024  Q: Jun. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1068.62/( ( (828.611 + max(420.889, 0)) + (827.704 + max(375.785, 0)) )/ 2 )
=1068.62/( ( 1249.5 + 1203.489 )/ 2 )
=1068.62/1226.4945
=87.13 %

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


IDEXX Laboratories  (NAS:IDXX) 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.


IDEXX Laboratories ROC (Joel Greenblatt) % Related Terms

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


IDEXX Laboratories Business Description

Address
One IDEXX Drive, Westbrook, ME, USA, 04092
Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.
Executives
M Anne Szostak director C/O TUPPERWARE BRANDS CORP, 14901 S ORANGE BLOSSOM TR, ORLANDO FL 32837
Bruce L. Claflin director 7035 RIDGE ROAD, HANOVER MD 21076
James F Polewaczyk officer: Corporate Vice President IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Sophie V. Vandebroek director 6 OAK MEADOW ROAD, LINCOLN MA 01770
George Fennell officer: CORPORATE VICE PRESIDENT IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Brian P Mckeon director IDEXX LABORATORIES, ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan Jay Mazelsky director, officer: President and CEO ONE IDEXX DRIVE, WESTBROOK ME 04092
Martin Alexander Smith officer: Executive Vice President C/O IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan W Ayers director, officer: President & CEO IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Michael Lane officer: Executive Vice President C/O IDEXX LABORATORIES, INC., WESTBROOK ME 04092
Irene Chang Britt director CAMPBELL SOUP COMPANY, ONE CAMPBELL PLACE, CAMDEN NJ 08103
Samer Abdul Samad director 5200 ILLUMINA WAY, SAN DIEGO CA 92122
Lawrence D Kingsley director C/O IDEX CORPORATION, 630 DUNDEE ROAD, NORTHBROOK IL 60062
Asha Collins director IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Stuart Essig director 311 C ENTERPRISE DRIVE, PLAINSBORO NJ 08536