SFI PJSC (MIC:SFIN) ROC % : 5.71% (As of Jun. 2023)

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What is SFI PJSC ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. SFI PJSC's annualized return on capital (ROC %) for the quarter that ended in Jun. 2023 was 5.71%.

As of today (2024-05-24), SFI PJSC's WACC % is 4.28%. SFI PJSC's ROC % is 2.86% (calculated using TTM income statement data). SFI PJSC earns returns that do not match up to its cost of capital. It will destroy value as it grows.

SFI PJSC ROC % Historical Data

The historical data trend for SFI PJSC's ROC % 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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SFI PJSC ROC % Chart

SFI PJSC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

ROC %

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1.89

-6.58

1.23

1.16

1.79

SFI PJSC Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Jun23
ROC %	Get a 7-Day Free Trial												1.49	1.61	3.51	2.02	5.71

SFI PJSC ROC % Calculation

SFI PJSC's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2021 is calculated as:

	ROC % (A: Dec. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2020 )	+	Invested Capital (A: Dec. 2021 ))	/ count )
=	8554.604 * ( 1 - 34.29% )	/	( (421051.251	+	207024.217)	/ 2 )
=	5621.2302884	/	314037.734
=	1.79 %

where

	Invested Capital		(A: Dec. 2020 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	425795.249	-	1135.02	-	( 3608.978	-	max(0, 264561.787	-	381622.21	+	3608.978	))
=	421051.251

	Invested Capital		(A: Dec. 2021 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	217106.152	-	1293.312	-	( 8788.623	-	max(0, 6160.465	-	170349.834	+	8788.623	))
=	207024.217

SFI PJSC's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	15598.242 * ( 1 - 17.64% )	/	( (202173.6	+	247583.482)	/ 2 )
=	12846.7121112	/	224878.541
=	5.71 %

where

	Invested Capital		(Q: Jun. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	212869.942	-	1455.642	-	( 9240.7	-	max(0, 4864.067	-	171227.462	+	9240.7	))
=	202173.6

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	265918.497	-	1757.29	-	( 16577.725	-	max(0, 6016.391	-	214899.414	+	16577.725	))
=	247583.482

Note: The Operating Income data used here is two times the semi-annual (Jun. 2023) data.

SFI PJSC (MIC:SFIN) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, SFI PJSC's WACC % is 4.28%. SFI PJSC's ROC % is 2.86% (calculated using TTM income statement data). SFI PJSC earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

SFI PJSC ROC % Related Terms

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SFI PJSC (MIC:SFIN) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Bolshoy Ovchinnikovsky lane, 16, floor 4, room 424, Moscow, RUS, 115184

Website

https://www.safmarinvest.ru

SFI PJSC formerly Safmar Financial Investment PJSC is engaged in the leasing business. It is mainly involved in the leasing of various types of automobiles and equipment to individual entrepreneurs and legal entities within the Russian Federation. The group purchases leasing assets from suppliers operating in the territory of the Russian Federation. Further, the group is also involved in pension activity, insurance activity, corporate center, and cession/Banking activity. The firm generates the majority of its revenue from the leasing division.

SFI PJSC (MIC:SFIN) Headlines

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