Rosenbaum ROIC formula?
Why does Rosenbaum calculate ROIC as:
=EBIT / (AVERAGE( (year 1 total capital - cash) + (year 2 total capital - cash) ) ?
I thought ROIC was (earnings - dividends) / total capital
Why does Rosenbaum calculate ROIC as:
=EBIT / (AVERAGE( (year 1 total capital - cash) + (year 2 total capital - cash) ) ?
I thought ROIC was (earnings - dividends) / total capital
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