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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 %. Nuvve Holding's annualized return on capital (ROC %) for the quarter that ended in Dec. 2023 was -176.93%.
As of today (2024-05-14), Nuvve Holding's WACC % is 5.93%. Nuvve Holding's ROC % is -181.51% (calculated using TTM income statement data). Nuvve Holding earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Nuvve Holding'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.
Nuvve Holding Annual Data | |||||||||
Trend | Dec20 | Dec21 | Dec22 | Dec23 | |||||
ROC % | -68.15 | -289.39 | -233.28 | -195.79 |
Nuvve Holding Quarterly Data | ||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
ROC % | Get a 7-Day Free Trial | -174.10 | -167.90 | -189.83 | -179.04 | -176.93 |
Nuvve Holding's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2023 is calculated as:
ROC % (A: Dec. 2023 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Dec. 2022 ) | + | Invested Capital (A: Dec. 2023 )) | / count ) |
= | -32.105 * ( 1 - -0.01% ) | / | ( (19.708 | + | 13.09) | / 2 ) |
= | -32.1082105 | / | 16.399 | |||
= | -195.79 % |
where
Invested Capital | (A: Dec. 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 | )) |
= | 41.2 | - | 5.738 | - | ( 15.754 | - | max(0, 7.897 | - | 31.85 | + | 15.754 | )) |
= | 19.708 |
Invested Capital | (A: Dec. 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 | )) |
= | 20.951 | - | 6.326 | - | ( 1.535 | - | max(0, 8.318 | - | 13.043 | + | 1.535 | )) |
= | 13.09 |
Nuvve Holding's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2023 is calculated as:
ROC % (Q: Dec. 2023 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Sep. 2023 ) | + | Invested Capital (Q: Dec. 2023 )) | / count ) |
= | -29.792 * ( 1 - -0.03% ) | / | ( (20.597 | + | 13.09) | / 2 ) |
= | -29.8009376 | / | 16.8435 | |||
= | -176.93 % |
where
Invested Capital | (Q: Sep. 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 | )) |
= | 34.464 | - | 5.283 | - | ( 13.865 | - | max(0, 17.893 | - | 26.477 | + | 13.865 | )) |
= | 20.597 |
Invested Capital | (Q: Dec. 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 | )) |
= | 20.951 | - | 6.326 | - | ( 1.535 | - | max(0, 8.318 | - | 13.043 | + | 1.535 | )) |
= | 13.09 |
Note: The Operating Income data used here is four times the quarterly (Dec. 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.
Nuvve Holding (NAS:NVVE) 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, Nuvve Holding's WACC % is 5.93%. Nuvve Holding's ROC % is -181.51% (calculated using TTM income statement data). Nuvve Holding 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 Nuvve Holding's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
David Robson | officer: Chief Financial Officer | FARMER BROS.CO., 1912 FARMER BROTHERS DR, NORTHLAKE TX 76262 |
Gregory Poilasne | director, officer: Chief Executive Officer | C/O NUVVE HOLDING CORP., 2468 HISTORIC DECATUR ROAD, SAN DIEGO CA 92106 |
Stonepeak Gp Investors Holdings Lp | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Upper Holdings Lp | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Holdings Manager Llc | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Ted C. Smith | director, officer: President & COO | C/O NUVVE HOLDING CORP., 2468 HISTORIC DECATUR ROAD, SAN DIEGO CA 92106 |
Lande Rashida La | director | C/O THE KRAFT HEINZ COMPANY, ONE PPG PLACE, SUITE 3200, PITTSBURGH PA 15222 |
Stonepeak Rocket Holdings Ii Lp | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Iv Llc | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Associates Iv Llc | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Evolve Transition Infrastructure Lp | 10 percent owner | 1360 POST OAK BLVD, SUITE 2400, HOUSTON TX 77056 |
Stonepeak Rocket Holdings Lp | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Rocket Upper Holdings Lp | 10 percent owner | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Manager Llc | 10 percent owner | 55 HUDSON YARDS, 550 W. 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Michael B. Dorrell | 10 percent owner | 55 HUDSON YARDS, 550 W. 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
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