PIA (TSE:4337) ROCE % : -1.85% (As of Dec. 2023)

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What is PIA 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. PIA's annualized ROCE % for the quarter that ended in Dec. 2023 was -1.85%.

PIA ROCE % Historical Data

The historical data trend for PIA'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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PIA ROCE % Chart

PIA Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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15.05

3.41

-28.45

-3.66

6.72

PIA Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-0.09	5.33	17.62	1.09	-1.85

PIA ROCE % Calculation

PIA'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 )
	=	1487	/	( ( (64598 - 38732)	+	(74798 - 56434) )	/ 2 )
	=	1487	/	( (25866	+	18364)	/ 2 )
	=	1487	/	22115
	=	6.72 %

PIA'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 )
	=	-464	/	( ( (93973 - 68717)	+	(80240 - 55418) )	/ 2 )
	=	-464	/	( ( 25256	+	24822 )	/ 2 )
	=	-464	/	25039
	=	-1.85 %

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

PIA (TSE:4337) 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.

PIA ROCE % Related Terms

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PIA (TSE:4337) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » PIA Corp (TSE:4337) » Definitions » ROCE %

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N/A

Address

1-2-20 Higashi, Shibuya-ku, Shibuya First Tower, Tokyo, JPN, 150-0011

Website

http://www.pia.co.jp

PIA Corp provides event ticketing services in Japan. The company sells tickets for concerts, sporting contests and other events of entertainment value through telephone operators, mobile phone services and a network of ticket stores.

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