Cangene (FRA:YGE) ROCE % : -6.34% (As of Oct. 2013)

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What is Cangene 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. Cangene's annualized ROCE % for the quarter that ended in Oct. 2013 was -6.34%.

Cangene ROCE % Historical Data

The historical data trend for Cangene'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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Cangene ROCE % Chart

Cangene Annual Data

Trend

Jul04

Jul05

Jul06

Jul07

Jul08

Jul09

Jul10

Jul11

Jul12

Jul13

ROCE %

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26.20

6.99

1.61

-16.42

4.73

Cangene Quarterly Data
	Jan09	Apr09	Jul09	Oct09	Jan10	Apr10	Jul10	Oct10	Jan11	Apr11	Jul11	Oct11	Jan12	Apr12	Jul12	Oct12	Jan13	Apr13	Jul13	Oct13
ROCE %	Get a 7-Day Free Trial															16.56	-7.28	12.36	1.95	-6.34

Cangene ROCE % Calculation

Cangene's annualized ROCE % for the fiscal year that ended in Jul. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jul. 2013 )		(A: Jul. 2012 )		(A: Jul. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jul. 2013 )		(A: Jul. 2012 )		(A: Jul. 2013 )
	=	8.65	/	( ( (188.822 - 17.906)	+	(218.9 - 24.132) )	/ 2 )
	=	8.65	/	( (170.916	+	194.768)	/ 2 )
	=	8.65	/	182.842
	=	4.73 %

Cangene's ROCE % of for the quarter that ended in Oct. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Oct. 2013 )		(Q: Jul. 2013 )		(Q: Oct. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Oct. 2013 )		(Q: Jul. 2013 )		(Q: Oct. 2013 )
	=	-11.968	/	( ( (218.9 - 24.132)	+	(208.847 - 26.065) )	/ 2 )
	=	-11.968	/	( ( 194.768	+	182.782 )	/ 2 )
	=	-11.968	/	188.775
	=	-6.34 %

(1) Note: The EBIT data used here is four times the quarterly (Oct. 2013) EBIT data.

Cangene (FRA:YGE) 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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Cangene (FRA:YGE) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Cangene Corporation (FRA:YGE) » Definitions » ROCE %

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Address

Website

http://www.cangene.com

Cangene Corporation is a fully integrated developer and manufacturer of immune therapeutics, primarily targeting infectious disease, hematology, transplantation and biodefense applications. The company manages its business and evaluate performance based on two operating segments: biopharmaceutical operations and contract services. Revenues are generated from product sales, and contract manufacturing and contract-R&D services.

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