{
  "docId": "019dd923-622b-71dc-a6db-c1be3336de12",
  "docSlug": "06bee195e08c",
  "documentTitle": "Buffalo Wild Wings (BWLD)",
  "authorId": "07_Marcato",
  "authorName": "Marcato",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2016-06-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 11,
  "pageCount": 48,
  "prevPage": 10,
  "nextPage": 12,
  "slideType": "kpi_overview",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 22,
  "notes": "The slide uses a grouped bar chart to compare ROIC with and without operating lease capitalization, alongside a franchise mix row.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_grouped",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-c1be3336de12/11",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-c1be3336de12#slide-11",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "BWLD's ROIC in 2015 represented the most significant year-over-year decline in ten years, reflecting the dilutive impacts of 1) higher capital intensity of company-owned stores and 2) dilutive franchisee acquisitions",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6eb-753a-a38e-91db070df7d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.85,
        "x": 0.07,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Historical Returns on Invested Capital 2006-2015",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5ad9f6d4-3b97-4ccf-884d-8f06a576bd0b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.85,
        "x": 0.07,
        "y": 0.18
      },
      "kind": "list",
      "text": "Despite remaining relatively stable from 2009 - 2014, BWLD's returns on average invested capital have declined significantly over the past ten years\nBWLD's ROIC in 2015 represented the most significant year-over-year decline in ten years",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5a117159-3c97-4307-b99c-20b20ffcda57",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "ROIC: 17.4%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-e6eb-753a-a38e-96fedfd75b9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.07,
        "y": 0.086
      },
      "kind": "source-note",
      "text": "Source: Company filings, MCM estimates. Note: ROIC calculated as tax-affected EBIT...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d05f1147-5791-4775-976b-651db9a284c2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.07,
        "y": 0.08
      },
      "kind": "table",
      "text": "Franchise Mix row showing percentages from 68% to 49%",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ed23779-416d-4a7e-b456-c04709e1406f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.07,
        "y": 0.12
      },
      "kind": "title",
      "text": "QUESTIONS SURROUNDING CAPITAL ALLOCATION (CONT'D)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd3e93d8-8fa7-4a90-a908-bd82344f57d9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}