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ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Daybreak Oil & Gas's annualized return on capital (ROC %) for the quarter that ended in Feb. 2023 was -28.18%.
As of today (2024-04-29), Daybreak Oil & Gas's WACC % is 0.00%. Daybreak Oil & Gas's ROC % is 0.00% (calculated using TTM income statement data). Daybreak Oil & Gas earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Daybreak Oil & Gas's ROC % 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.
Daybreak Oil & Gas Annual Data | |||||||||||||||||||||
Trend | Feb14 | Feb15 | Feb16 | Feb17 | Feb18 | Feb19 | Feb20 | Feb21 | Feb22 | Feb23 | |||||||||||
ROC % | Get a 7-Day Free Trial | -5.06 | -12.22 | -16.19 | -12.51 | -22.22 |
Daybreak Oil & Gas Quarterly Data | ||||||||||||||||||||
May18 | Aug18 | Nov18 | Feb19 | May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | |
ROC % | Get a 7-Day Free Trial | -21.14 | -6.26 | -9.40 | -11.29 | -28.18 |
Daybreak Oil & Gas's annualized Return on Capital (ROC %) for the fiscal year that ended in Feb. 2023 is calculated as:
ROC % (A: Feb. 2023 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Feb. 2022 ) | + | Invested Capital (A: Feb. 2023 )) | / count ) |
= | -0.999 * ( 1 - 0% ) | / | ( (2.011 | + | 6.979) | / 2 ) |
= | -0.999 | / | 4.495 | |||
= | -22.22 % |
where
Invested Capital | (A: Feb. 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 | )) |
= | 0.976 | - | 1.953 | - | ( 0.14 | - | max(0, 3.405 | - | 0.417 | + | 0.14 | )) |
= | 2.011 |
Invested Capital | (A: Feb. 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 | )) |
= | 7.715 | - | 2.836 | - | ( 0.299 | - | max(0, 3.254 | - | 1.154 | + | 0.299 | )) |
= | 6.979 |
Daybreak Oil & Gas's annualized Return on Capital (ROC %) for the quarter that ended in Feb. 2023 is calculated as:
ROC % (Q: Feb. 2023 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Nov. 2022 ) | + | Invested Capital (Q: Feb. 2023 )) | / count ) |
= | -2.08 * ( 1 - 0% ) | / | ( (7.783 | + | 6.979) | / 2 ) |
= | -2.08 | / | 7.381 | |||
= | -28.18 % |
where
Invested Capital | (Q: Nov. 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 | )) |
= | 8.765 | - | 2.836 | - | ( 0.403 | - | max(0, 3.254 | - | 1.4 | + | 0.403 | )) |
= | 7.783 |
Invested Capital | (Q: Feb. 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 | )) |
= | 7.715 | - | 2.836 | - | ( 0.299 | - | max(0, 3.254 | - | 1.154 | + | 0.299 | )) |
= | 6.979 |
Note: The Operating Income data used here is four times the quarterly (Feb. 2023) data.
* 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.
Daybreak Oil & Gas (OTCPK:DBRM) ROC % Explanation
ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 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 ROC % 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, Daybreak Oil & Gas's WACC % is 0.00%. Daybreak Oil & Gas's ROC % is 0.00% (calculated using TTM income statement data). Daybreak Oil & Gas earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROC % 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.
Thank you for viewing the detailed overview of Daybreak Oil & Gas's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Gaelic Resources Ltd | 10 percent owner | 14 ALBERT STREET, DOUGLAS Y8 IM1 2QA |
Darren Williams | director | 9200 OAKDALE AVENUE, SUITE 900, LOS ANGELES CA 91311 |
James F Westmoreland | director, 10 percent owner, officer: President & CEO | 1101 N. ARGONNE ROAD, SUITE A 211, SPOKANE VALLEY WA 99212 |
James F. Meara | director | C/O 601 W. MAIN AVENUE, SUITE 1012, SPOKANE WA 99201 |
Timothy R Lindsey | director | 1101 N. ARGONNE ROAD, SUITE A211, SPOKANE VALLEY WA 99212 |
Maximilian Investors Llc | 10 percent owner | 152 WEST 57TH STREET, 54TH FLOOR, NEW YORK NY 10019 |
Wayne G Dotson | director | 601 W. MAIN AVE., SUITE 1012, SPOKANE WA 99201 |
Karol Lynn Adams | officer: Corporate Secretary | DAYBREAK OIL AND GAS, INC., 601 WEST MAIN AVE., SUITE 1012, SPOKANE WA 99201 |
Anna Moe | other: Spouse of director | 8305 NORTH COLTON PLACE, SPOKANE WA 99208 |
Keith Hooper | 10 percent owner | 1529 WEST ADAMS STREET, CHICAGO IL 60607 |
Benjamin Wade Anderson | officer: Chief Operating Officer | 1023 E 760 S, OREM UT 84097 |
Eric Moe | officer: Chief Executive Officer | 8305 NORTH COLTON PLACE, SPOKANE WA 99208 |
Robert N Martin | director, officer: President | 621 B 37 STREET SW, CALGARY A0 T3C 1R8 |
Jeffrey Robert Dworkin | director, officer: Secretary | 320 1001 13 AVENUE SW, CALGARY A0 T2R 0L5 |
Curtis Michael Charles Peter | director | 161 DES CEDRES, ST. EUSTACHE A8 J6R 4V7 |
From GuruFocus
By Marketwired Marketwired • 01-03-2019
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