Nitto Denko (TSE:6988) ROCE % : 19.19% (As of Dec. 2023)

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What is Nitto Denko 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. Nitto Denko's annualized ROCE % for the quarter that ended in Dec. 2023 was 19.19%.

Nitto Denko ROCE % Historical Data

The historical data trend for Nitto Denko'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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Nitto Denko ROCE % Chart

Nitto Denko Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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12.47

9.32

12.23

16.03

16.07

Nitto Denko 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															18.74	4.13	9.44	17.24	19.19

Nitto Denko ROCE % Calculation

Nitto Denko's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	148776	/	( ( (1094469 - 208489)	+	(1153647 - 188248) )	/ 2 )
	=	148776	/	( (885980	+	965399)	/ 2 )
	=	148776	/	925689.5
	=	16.07 %

Nitto Denko'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 )
	=	193764	/	( ( (1205290 - 196333)	+	(1198754 - 188226) )	/ 2 )
	=	193764	/	( ( 1008957	+	1010528 )	/ 2 )
	=	193764	/	1009742.5
	=	19.19 %

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

Nitto Denko (TSE:6988) 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.

Nitto Denko ROCE % Related Terms

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Nitto Denko (TSE:6988) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Nitto Denko Corp (TSE:6988) » Definitions » ROCE %

Comparable Companies

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NDEKY:USA NDEKF:USA ND5:Germany

Address

4-20, Ofuka-Cho, 33rd Floor, Grand Front Osaka, Kita-Ku, Osaka, JPN, 530-0011

Website

http://www.nitto.com

Nitto Denko Corp manufactures and sells a variety of industrial and electronics products. The company sells tape products, which include masking tape for painting and printed-circuit boards, double sided tapes, electrical tape, and sealant materials used in the construction industry. Nitto Denko also sells film products, which include surface protective film, fluoroplastic films used to seal pipes and air filters, and porous film that allows air to pass through but seals water and other liquids. The firm also produces electronics, which include flexible printed circuit boards for smartphones and tablets, and medical products such as drug delivery patches and adhesive sheets.

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