Choei (TSE:2993) ROCE % : 6.03% (As of Dec. 2023)

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What is Choei 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. Choei's annualized ROCE % for the quarter that ended in Dec. 2023 was 6.03%.

Choei ROCE % Historical Data

The historical data trend for Choei'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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Choei ROCE % Chart

Choei Annual Data

Trend

Mar20

Mar21

Mar22

Mar23

ROCE %

4.43

4.34

6.00

4.89

Choei Quarterly Data
	Mar20	Mar21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial							4.25	4.66	4.82	4.81	6.03

Choei ROCE % Calculation

Choei's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	2512.976	/	( ( (53571.799 - 4096.942)	+	(56851.84 - 3448.903) )	/ 2 )
	=	2512.976	/	( (49474.857	+	53402.937)	/ 2 )
	=	2512.976	/	51438.897
	=	4.89 %

Choei'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: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	3284.176	/	( ( (57510.173 - 3718.22)	+	(58853.262 - 3759.56) )	/ 2 )
	=	3284.176	/	( ( 53791.953	+	55093.702 )	/ 2 )
	=	3284.176	/	54442.8275
	=	6.03 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Choei (TSE:2993) 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.

Choei ROCE % Related Terms

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Choei (TSE:2993) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Choei Inc (TSE:2993) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

3-70 Fukakusanishiuracho, Fushimi-ku, 5th Choei Astro Building, Kyoto, JPN, 2-0029

Website

https://www.kk-choei.co.jp

Choei Inc is engaged in the real estate management and leasing activities.

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