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retained earnings / Buffettoloy
(cross post question from my comment at SA)

Part of my DD is to look at profitability by 4 parameters:
(1) net margin
(2) ROE
(3) (operative cash flow) / (sales)
with (1), (2) and (3) from the current or last fiscal year, 
(4) return on retained earnings as described in the book Buffettology by Buffett/Clark. 
In that book this is a hand crafted number:
a) substract the sum of 10 years of dividends from the sum of 10 years of earnings.
b) take the difference of earnings of the 10th year and the 1st year.
c) devide (b) by (a) to get some number in percent

Looks like a lot of work for a watchlist of 100+ stocks? It is and I try to avoid that parameter as long as possible. I enter all GAAP earnings and dividends from Fastgraphs by hand into my table. 

Investing may be an art, it may be science, it certainly is transpiration.

Anyone of you uses this parameter (4) ? Did you find another parameter as a replacement? ROIC sounds like one but a) I don not think I fully understands its definition and b) the ROIC given f.i. by stockrover seems to refer to the current (fiscal) year.

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