Permex Petroleum (XCNQ:OIL) ROCE % : -43.20% (As of Jun. 2023)

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What is Permex Petroleum 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. Permex Petroleum's annualized ROCE % for the quarter that ended in Jun. 2023 was -43.20%.

Permex Petroleum ROCE % Historical Data

The historical data trend for Permex Petroleum'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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Permex Petroleum ROCE % Chart

Permex Petroleum Annual Data

Trend

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

ROCE %

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-38.23

-11.83

-21.97

-22.95

-31.70

Permex Petroleum Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
ROCE %	Get a 7-Day Free Trial															-25.80	-31.03	-51.83	-49.75	-43.20

Permex Petroleum ROCE % Calculation

Permex Petroleum's annualized ROCE % for the fiscal year that ended in Sep. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2022 )		(A: Sep. 2021 )		(A: Sep. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2022 )		(A: Sep. 2021 )		(A: Sep. 2022 )
	=	-3.58	/	( ( (8.795 - 0.697)	+	(16.764 - 2.273) )	/ 2 )
	=	-3.58	/	( (8.098	+	14.491)	/ 2 )
	=	-3.58	/	11.2945
	=	-31.70 %

Permex Petroleum's ROCE % of for the quarter that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2023 )		(Q: Mar. 2023 )		(Q: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2023 )		(Q: Mar. 2023 )		(Q: Jun. 2023 )
	=	-4.832	/	( ( (15.262 - 3.757)	+	(15.515 - 4.649) )	/ 2 )
	=	-4.832	/	( ( 11.505	+	10.866 )	/ 2 )
	=	-4.832	/	11.1855
	=	-43.20 %

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

Permex Petroleum (XCNQ:OIL) 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.

Permex Petroleum ROCE % Related Terms

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Permex Petroleum (XCNQ:OIL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Permex Petroleum Corp (XCNQ:OIL) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

OILCF:USA 75P:Germany

Address

666 Burrard Street, Suite 500, Vancouver, BC, CAN, V6C 2X8

Website

https://www.permexpetroleum.com

Permex Petroleum Corp is a junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware SubBasin of New Mexico. The company through its wholly-owned subsidiary, Permex Petroleum US Corporation owns and operates on private, state, and federal land. The company has a single reportable segment i.e. acquisition, development, and production of oil and gas properties in the United States.

Executives

Mehran Ehsan

Director, Senior Officer