Sinovus Mining (ASX:SNV) ROCE % : 15.15% (As of Dec. 2015)

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What is Sinovus Mining 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. Sinovus Mining's annualized ROCE % for the quarter that ended in Dec. 2015 was 15.15%.

Sinovus Mining ROCE % Historical Data

The historical data trend for Sinovus Mining'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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Sinovus Mining ROCE % Chart

Sinovus Mining Annual Data

Trend

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Jun14

Jun15

Jun16

ROCE %

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-152.38

-7.61

-10.19

-31.92

-6.94

Sinovus Mining Semi-Annual Data
	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16
ROCE %	Get a 7-Day Free Trial													-25.45	-32.03	-32.25	15.15	-33.46

Sinovus Mining ROCE % Calculation

Sinovus Mining's annualized ROCE % for the fiscal year that ended in Jun. 2016 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2016 )		(A: Jun. 2015 )		(A: Jun. 2016 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2016 )		(A: Jun. 2015 )		(A: Jun. 2016 )
	=	-0.081	/	( ( (1.888 - 0.519)	+	(1.898 - 0.934) )	/ 2 )
	=	-0.081	/	( (1.369	+	0.964)	/ 2 )
	=	-0.081	/	1.1665
	=	-6.94 %

Sinovus Mining's ROCE % of for the quarter that ended in Dec. 2015 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2015 )		(Q: Jun. 2015 )		(Q: Dec. 2015 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2015 )		(Q: Jun. 2015 )		(Q: Dec. 2015 )
	=	0.19	/	( ( (1.888 - 0.519)	+	(1.877 - 0.737) )	/ 2 )
	=	0.19	/	( ( 1.369	+	1.14 )	/ 2 )
	=	0.19	/	1.2545
	=	15.15 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2015) EBIT data.

Sinovus Mining (ASX:SNV) 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.

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Sinovus Mining (ASX:SNV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Sinovus Mining Ltd (ASX:SNV) » Definitions » ROCE %

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Traded in Other Exchanges

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Address

32 Martin Place, Level 10, Sydney, NSW, AUS, 2000

Website

http://www.sinovus.com.au

Sinovus Mining Ltd is a mineral resource company. It engaged in developing its gold assets in the Heilongjiang region of north-eastern China. The Company's main projects include: Xiangguang Silver Project, Laogouxi Gold Project, YangShan Coal Mine and Paltar Petroleum Limited.