True North Copper (ASX:TNC) ROCE % : -44.40% (As of Dec. 2023)

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What is True North Copper 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. True North Copper's annualized ROCE % for the quarter that ended in Dec. 2023 was -44.40%.

True North Copper ROCE % Historical Data

The historical data trend for True North Copper'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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True North Copper ROCE % Chart

True North Copper Annual Data

Trend

Jun20

Jun21

Jun22

Jun23

ROCE %

-10.80

-10.22

-88.49

True North Copper Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial			-8.08	-11.21	-10.22	-174.05	-44.40

True North Copper ROCE % Calculation

True North Copper'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 )
	=	-33.948	/	( ( (18.849 - 0.798)	+	(75.3 - 16.622) )	/ 2 )
	=	-33.948	/	( (18.051	+	58.678)	/ 2 )
	=	-33.948	/	38.3645
	=	-88.49 %

True North Copper'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 )
	=	-25.754	/	( ( (75.3 - 16.622)	+	(77.626 - 20.296) )	/ 2 )
	=	-25.754	/	( ( 58.678	+	57.33 )	/ 2 )
	=	-25.754	/	58.004
	=	-44.40 %

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

True North Copper (ASX:TNC) 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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True North Copper (ASX:TNC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » True North Copper Ltd (ASX:TNC) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

46-48 Sheridan Street, PO Box 3006, Level 9, Citi Central Tower, Cairns, QLD, AUS, 4870

Website

https://www.truenorthcopper.com.au

True North Copper Ltd is a mining and exploration company. The company mainly explores copper and cobalt projects located in Cloncurry and Mt Oxide. It has having only one reportable segment, being exploration, development and operations for minerals.