Victoria Oil & Gas (Victoria Oil & Gas) ROC % : -9.11% (As of Jun. 2021)

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What is Victoria Oil & Gas 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 %. Victoria Oil & Gas's annualized return on capital (ROC %) for the quarter that ended in Jun. 2021 was -9.11%.

As of today (2024-06-05), Victoria Oil & Gas's WACC % is 0.00%. Victoria Oil & Gas's ROC % is 0.00% (calculated using TTM income statement data). Victoria Oil & Gas earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Victoria Oil & Gas ROC % Historical Data

The historical data trend for Victoria Oil & Gas'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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Victoria Oil & Gas ROC % Chart

Victoria Oil & Gas Annual Data

Trend

May11

May12

May13

May14

May15

Dec16

Dec17

Dec18

Dec19

Dec20

ROC %

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-5.33

-7.21

-5.85

-11.64

-3.36

Victoria Oil & Gas Semi-Annual Data
	Nov11	May12	Nov12	May13	Nov13	May14	Nov14	May15	Nov15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21
ROC %	Get a 7-Day Free Trial															-1.85	-21.56	23.76	-31.59	-9.11

Victoria Oil & Gas ROC % Calculation

Victoria Oil & Gas's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2020 is calculated as:

	ROC % (A: Dec. 2020 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2019 )	+	Invested Capital (A: Dec. 2020 ))	/ count )
=	-1.37 * ( 1 - -2.14% )	/	( (44.833	+	38.477)	/ 2 )
=	-1.399318	/	41.655
=	-3.36 %

where

	Invested Capital		(A: Dec. 2019 )
=	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	))
=	50.186	-	9.272	-	( 7.237	-	max(0, 24.879	-	20.96	+	7.237	))
=	44.833

	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	))
=	51.085	-	24.918	-	( 1.806	-	max(0, 31.771	-	19.461	+	1.806	))
=	38.477

Victoria Oil & Gas's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2021 is calculated as:

	ROC % (Q: Jun. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2020 )	+	Invested Capital (Q: Jun. 2021 ))	/ count )
=	-3.296 * ( 1 - -5.43% )	/	( (38.477	+	37.842)	/ 2 )
=	-3.4749728	/	38.1595
=	-9.11 %

where

	Invested Capital		(Q: 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	))
=	51.085	-	24.918	-	( 1.806	-	max(0, 31.771	-	19.461	+	1.806	))
=	38.477

	Invested Capital		(Q: Jun. 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	))
=	46.969	-	22.972	-	( 1.638	-	max(0, 29.881	-	16.036	+	1.638	))
=	37.842

Note: The Operating Income data used here is two times the semi-annual (Jun. 2021) data.

Victoria Oil & Gas (OTCPK:VCOGF) 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, Victoria Oil & Gas's WACC % is 0.00%. Victoria Oil & Gas's ROC % is 0.00% (calculated using TTM income statement data). Victoria Oil & Gas 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.

Victoria Oil & Gas ROC % Related Terms

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Victoria Oil & Gas (Victoria Oil & Gas) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Victoria Oil & Gas PLC (OTCPK:VCOGF) » Definitions » ROC %

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Address

Scott House, Suite 1 The Concourse, Waterloo Station, GBR, SE1 7LY

Website

http://www.victoriaoilandgas.com

Victoria Oil & Gas PLC is a UK-based company that operates a fully integrated domestic natural gas production and distribution business and supplies industry in the port city of Douala, Cameroon. The principal activities of the company include exploration, production, and distribution and the sale of hydrocarbons and related activities. It focuses on the development of the Logbaba gas and condensate field to supply gas to its customers and the expansion of the gas pipeline distribution network. The company's operating segments are Cameroon, Russia & Kazakhstan, and Corporate. Most of the company's revenue is generated from Cameroon.

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