Noritake Co (TSE:5331) ROCE % : 11.47% (As of Dec. 2023)

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What is Noritake Co 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. Noritake Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 11.47%.

Noritake Co ROCE % Historical Data

The historical data trend for Noritake Co'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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Noritake Co ROCE % Chart

Noritake Co Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROCE %

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4.38

3.49

9.08

9.45

10.31

Noritake Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															6.48	10.08	11.10	11.47	9.54

Noritake Co ROCE % Calculation

Noritake Co's annualized ROCE % for the fiscal year that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	15407	/	( ( (180585 - 42130)	+	(202069 - 41716) )	/ 2 )
	=	15407	/	( (138455	+	160353)	/ 2 )
	=	15407	/	149404
	=	10.31 %

Noritake Co'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 )
	=	16768	/	( ( (186016 - 40085)	+	(187167 - 40805) )	/ 2 )
	=	16768	/	( ( 145931	+	146362 )	/ 2 )
	=	16768	/	146146.5
	=	11.47 %

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

Noritake Co (TSE:5331) 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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Noritake Co (TSE:5331) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Noritake Co Ltd (TSE:5331) » Definitions » ROCE %

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NO4:Germany

Address

3-1-36, Noritake-shinmachi, Nishi-ku,, Nagoya-shi, Aichi, JPN, 451-8501

Website

http://www.noritake.co.jp

Noritake Co Ltd is engaged in manufacturing of grinding and polishing tools, electronic component materials and manufacturing equipment. The group has established four different business fields with the application and development of a variety of ceramics manufacturing technologies: Industrial Products, which supports industries with grinding wheels and diamond tools, Ceramics & Materials, which supplies ceramic raw materials to many kinds of manufacturers, Engineering which develops and proposes manufacturing equipment and technologies, and Tabletop, which offers tableware to create rich and luxurious dining.

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