Fermiere du Casino Municipal de Cannes (XPAR:FCMC) ROIC % : 13.32% (As of Oct. 2023)

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What is Fermiere du Casino Municipal de Cannes ROIC %?

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Fermiere du Casino Municipal de Cannes's annualized return on invested capital (ROIC %) for the quarter that ended in Oct. 2023 was 13.32%.

As of today (2024-05-16), Fermiere du Casino Municipal de Cannes's WACC % is 4.87%. Fermiere du Casino Municipal de Cannes's ROIC % is 4.26% (calculated using TTM income statement data). Fermiere du Casino Municipal de Cannes earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Fermiere du Casino Municipal de Cannes ROIC % Historical Data

The historical data trend for Fermiere du Casino Municipal de Cannes's ROIC % 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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Fermiere du Casino Municipal de Cannes ROIC % Chart

Fermiere du Casino Municipal de Cannes Annual Data

Trend

Oct14

Oct15

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

ROIC %

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4.21

-3.39

1.04

6.73

4.28

Fermiere du Casino Municipal de Cannes Semi-Annual Data
	Oct13	Apr14	Oct14	Apr15	Oct15	Apr16	Oct16	Apr17	Oct17	Apr18	Oct18	Apr19	Oct19	Oct20	Apr21	Oct21	Apr22	Oct22	Apr23	Oct23
ROIC %	Get a 7-Day Free Trial															6.51	-0.89	14.49	-2.25	13.32

Competitive Comparison of Fermiere du Casino Municipal de Cannes's ROIC %

For the Resorts & Casinos subindustry, Fermiere du Casino Municipal de Cannes's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Fermiere du Casino Municipal de Cannes's ROIC % Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Fermiere du Casino Municipal de Cannes's ROIC % distribution charts can be found below:

* The bar in red indicates where Fermiere du Casino Municipal de Cannes's ROIC % falls into.

Fermiere du Casino Municipal de Cannes ROIC % Calculation

Fermiere du Casino Municipal de Cannes's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Oct. 2023 is calculated as:

	ROIC % (A: Oct. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Oct. 2022 )	+	Invested Capital (A: Oct. 2023 ))	/ count )
=	33.604 * ( 1 - 49.01% )	/	( (407.646	+	393.175)	/ 2 )
=	17.1346796	/	400.4105
=	4.28 %

where

	Invested Capital		(A: Oct. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	501.314	-	39.202	-	( 100.581	-	max(0, 61.543	-	116.009	+	100.581	))
=	407.646

	Invested Capital		(A: Oct. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	460.875	-	31.288	-	( 76.578	-	max(0, 60.08	-	96.492	+	76.578	))
=	393.175

Fermiere du Casino Municipal de Cannes's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Oct. 2023 is calculated as:

	ROIC % (Q: Oct. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Apr. 2023 )	+	Invested Capital (Q: Oct. 2023 ))	/ count )
=	76.838 * ( 1 - 30.76% )	/	( (405.752	+	393.175)	/ 2 )
=	53.2026312	/	399.4635
=	13.32 %

where

	Invested Capital		(Q: Apr. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	483.956	-	44.288	-	( 93.606	-	max(0, 80.165	-	114.081	+	93.606	))
=	405.752

	Invested Capital		(Q: Oct. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	460.875	-	31.288	-	( 76.578	-	max(0, 60.08	-	96.492	+	76.578	))
=	393.175

Note: The Operating Income data used here is two times the semi-annual (Oct. 2023) data.

Fermiere du Casino Municipal de Cannes (XPAR:FCMC) ROIC % Explanation

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROIC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Fermiere du Casino Municipal de Cannes's WACC % is 4.87%. Fermiere du Casino Municipal de Cannes's ROIC % is 4.26% (calculated using TTM income statement data).

Be Aware

Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Fermiere du Casino Municipal de Cannes ROIC % Related Terms

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Fermiere du Casino Municipal de Cannes (XPAR:FCMC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Fermiere du Casino Municipal de Cannes (XPAR:FCMC) » Definitions » ROIC %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Le Casino Croisette, 1 espace Lucien Barriere, Cannes, FRA, 06400

Website

http://www.lucienbarriere.com

Fermiere du Casino Municipal de Cannes operates a chain of casino hotels in France. The company offers accommodation, casinos, restaurants, golf courses, spas, and event management.

Fermiere du Casino Municipal de Cannes (XPAR:FCMC) Headlines

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