Africa Oil (Africa Oil) ROCE % : -35.41% (As of Dec. 2023)

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What is Africa Oil ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Africa Oil's annualized ROCE % for the quarter that ended in Dec. 2023 was -35.41%.

Africa Oil ROCE % Historical Data

The historical data trend for Africa Oil's ROCE % 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.

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Africa Oil ROCE % Chart

Africa Oil Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-18.52

1.41

22.21

-6.12

10.42

Africa Oil Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-74.14	10.24	47.25	19.37	-35.41

Africa Oil ROCE % Calculation

Africa Oil's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	94.7	/	( ( (917.7 - 44.5)	+	(966.2 - 22.4) )	/ 2 )
	=	94.7	/	( (873.2	+	943.8)	/ 2 )
	=	94.7	/	908.5
	=	10.42 %

Africa Oil's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-348.4	/	( ( (1043.1 - 19.3)	+	(966.2 - 22.4) )	/ 2 )
	=	-348.4	/	( ( 1023.8	+	943.8 )	/ 2 )
	=	-348.4	/	983.8
	=	-35.41 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Africa Oil (OTCPK:AOIFF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Africa Oil ROCE % Related Terms

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Africa Oil (Africa Oil) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Africa Oil Corp (OTCPK:AOIFF) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

AOI:Sweden 0QVL:UK AFZ:Germany AOI:Canada

Address

885 West Georgia Street, Suite 2000, Vancouver, BC, CAN, V6C 3E8

Website

https://www.africaoilcorp.com

Africa Oil Corp is an international oil and gas exploration company. It is an exploration stage enterprise that participates in oil and gas projects located in emerging markets, in sub-Saharan Africa. The company operates in the business segment of international oil and gas exploration, and geographically, it operates in Kenya and Ethiopia.

Africa Oil (Africa Oil) Headlines

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