Evraz Highveld Steel and Vanadium (Evraz Highveld Steel and Vanadium) ROCE % : -45.38% (As of Sep. 2014)

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What is Evraz Highveld Steel and Vanadium 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. Evraz Highveld Steel and Vanadium's annualized ROCE % for the quarter that ended in Sep. 2014 was -45.38%.

Evraz Highveld Steel and Vanadium ROCE % Historical Data

The historical data trend for Evraz Highveld Steel and Vanadium'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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Evraz Highveld Steel and Vanadium ROCE % Chart

Evraz Highveld Steel and Vanadium Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

ROCE %

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8.17

-24.22

-0.67

-28.64

-11.14

Evraz Highveld Steel and Vanadium Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
ROCE %	Get a 7-Day Free Trial															-31.03	-24.68	-16.06	-35.84	-45.38

Evraz Highveld Steel and Vanadium ROCE % Calculation

Evraz Highveld Steel and Vanadium's annualized ROCE % for the fiscal year that ended in Dec. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	-28.066	/	( ( (425.821 - 135.747)	+	(346.055 - 132.134) )	/ 2 )
	=	-28.066	/	( (290.074	+	213.921)	/ 2 )
	=	-28.066	/	251.9975
	=	-11.14 %

Evraz Highveld Steel and Vanadium's ROCE % of for the quarter that ended in Sep. 2014 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2014 )		(Q: Jun. 2014 )		(Q: Sep. 2014 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2014 )		(Q: Jun. 2014 )		(Q: Sep. 2014 )
	=	-77.156	/	( ( (350.111 - 168.218)	+	(340.558 - 182.425) )	/ 2 )
	=	-77.156	/	( ( 181.893	+	158.133 )	/ 2 )
	=	-77.156	/	170.013
	=	-45.38 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2014) EBIT data.

Evraz Highveld Steel and Vanadium (OTCPK:HGVLY) 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.

Evraz Highveld Steel and Vanadium ROCE % Related Terms

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Evraz Highveld Steel and Vanadium (Evraz Highveld Steel and Vanadium) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Evraz Highveld Steel and Vanadium Ltd (OTCPK:HGVLY) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

Website

http://www.evrazhighveld.co.za

Evraz Highveld Steel and Vanadium Ltd. is engaged in the production of integrated iron ore, steel and vanadium slag. It also produces rail, coiled plate, coiled strip, light and medium plate and cast billets. The Company operates in two business segments: Steel and Vanadium. The major products of the steel segment are magnetite iron ore, structural steel, plate and coil. The major products of the vanadium segment are vanadium slag and ferrovanadium. Vanadium slag is a by-product from the steelmaking process.

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