Odessa Minerals (ASX:ODE) ROCE % : -14.36% (As of Dec. 2023)

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What is Odessa Minerals 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. Odessa Minerals's annualized ROCE % for the quarter that ended in Dec. 2023 was -14.36%.

Odessa Minerals ROCE % Historical Data

The historical data trend for Odessa Minerals'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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Odessa Minerals ROCE % Chart

Odessa Minerals Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-83.35

-28.93

-64.21

-191.97

-36.02

Odessa Minerals Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-584.47	-321.78	-28.48	-44.00	-14.36

Odessa Minerals ROCE % Calculation

Odessa Minerals's annualized ROCE % for the fiscal year that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	-2.241	/	( ( (5.766 - 0.499)	+	(7.499 - 0.323) )	/ 2 )
	=	-2.241	/	( (5.267	+	7.176)	/ 2 )
	=	-2.241	/	6.2215
	=	-36.02 %

Odessa Minerals'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-1.002	/	( ( (7.499 - 0.323)	+	(7.366 - 0.59) )	/ 2 )
	=	-1.002	/	( ( 7.176	+	6.776 )	/ 2 )
	=	-1.002	/	6.976
	=	-14.36 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Odessa Minerals (ASX:ODE) 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.

Odessa Minerals ROCE % Related Terms

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Odessa Minerals (ASX:ODE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Odessa Minerals Ltd (ASX:ODE) » Definitions » ROCE %

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Address

295 Rokeby Road, Suite 1, Perth, WA, AUS, 6008

Website

https://www.odessaminerals.com.au

Odessa Minerals Ltd is a diamond explorer company. The company's projects are located in the Kimberley region of Western Australia. Its projects include Aries, Ellendale, Calwynyardah, Noonkanbah.

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