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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 %. PhaseBio Pharmaceuticals's annualized return on capital (ROC %) for the quarter that ended in Jun. 2022 was -537.51%.
As of today (2024-04-24), PhaseBio Pharmaceuticals's WACC % is 0.00%. PhaseBio Pharmaceuticals's ROC % is 0.00% (calculated using TTM income statement data). PhaseBio Pharmaceuticals earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for PhaseBio Pharmaceuticals'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.
PhaseBio Pharmaceuticals Annual Data | |||||||||||||||
Trend | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||
ROC % | Get a 7-Day Free Trial | -101.67 | -219.79 | -847.97 | -645.96 | -540.04 |
PhaseBio Pharmaceuticals Quarterly Data | ||||||||||||||||||||
Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | |
ROC % | Get a 7-Day Free Trial | -367.80 | -453.61 | -587.87 | -347.59 | -537.51 |
PhaseBio Pharmaceuticals's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2021 is calculated as:
ROC % (A: Dec. 2021 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Dec. 2020 ) | + | Invested Capital (A: Dec. 2021 )) | / count ) |
= | -107.362 * ( 1 - -1.24% ) | / | ( (18.213 | + | 22.041) | / 2 ) |
= | -108.6932888 | / | 20.127 | |||
= | -540.04 % |
where
Invested Capital | (A: Dec. 2020 ) | |||||||||||
= | 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 | )) |
= | 50.357 | - | 6.955 | - | ( 28.122 | - | max(0, 14.96 | - | 40.149 | + | 28.122 | )) |
= | 18.213 |
Invested Capital | (A: Dec. 2021 ) | |||||||||||
= | 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 | )) |
= | 60.54 | - | 17.598 | - | ( 41.8 | - | max(0, 27.883 | - | 48.784 | + | 41.8 | )) |
= | 22.041 |
PhaseBio Pharmaceuticals's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2022 is calculated as:
ROC % (Q: Jun. 2022 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Mar. 2022 ) | + | Invested Capital (Q: Jun. 2022 )) | / count ) |
= | -101.248 * ( 1 - 0% ) | / | ( (19.912 | + | 17.761) | / 2 ) |
= | -101.248 | / | 18.8365 | |||
= | -537.51 % |
where
Invested Capital | (Q: Mar. 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 | )) |
= | 38.664 | - | 12.871 | - | ( 18.688 | - | max(0, 21.688 | - | 27.569 | + | 18.688 | )) |
= | 19.912 |
Invested Capital | (Q: Jun. 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 | )) |
= | 22.166 | - | 17.52 | - | ( 7.804 | - | max(0, 24.679 | - | 11.564 | + | 7.804 | )) |
= | 17.761 |
Note: The Operating Income data used here is four times the quarterly (Jun. 2022) 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.
PhaseBio Pharmaceuticals (OTCPK:PHASQ) 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, PhaseBio Pharmaceuticals's WACC % is 0.00%. PhaseBio Pharmaceuticals's ROC % is 0.00% (calculated using TTM income statement data). PhaseBio Pharmaceuticals 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 PhaseBio Pharmaceuticals's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
New Enterprise Associates 13 Lp | 10 percent owner | 1119 ST PAUL STREET, BALTIMORE MD 21202 |
Glen Burkhardt | officer: VP, Human Resources | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PKWY.,SUITE 30, MALVERN PA 19355 |
Jonathan Birchall | officer: Chief Commercial Officer | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PARKWAY, SUITE 30, MALVERN PA 19355 |
William D. Humphries | director | C/O STRATA SKIN SCIENCES, INC., 5 WALNUT GROVE DRIVE SUITE 140, HORSHAM PA 19044 |
Clay Thorp | director | C/O HATTERAS VENTURE PARTNERS III, LP, 280 S. MANGUM ST., SUITE 350, DURHAM NC 27701 |
Nancy J Hutson | director | 64 MONTAUK AVENUE, STONINGTON CT 06378 |
Edmund Harrigan | director | C/O ACADIA PHARMACEUTICALS INC., 12830 EL CAMINO REAL, SUITE 400, SAN DIEGO CA 92130 |
Caroline M Loewy | director | 300 ELLIOTT AVE WEST, SUITE 500, SEATTLE WA 98119-4114 |
Van Den Broek Richard | director | 73 ARCH STREET, 1ST FLOOR, GREENWICH CT 06830 |
Peter Justin Klein | director | 5425 WISCONSIN AVE, CHEVY CHASE MD 20815 |
David James Ballance | officer: VP, Research and Sci. Affairs | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PKWY., SUITE 30, MALVERN PA 19355 |
Michael York | officer: VP, Corporate Development | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PKWY., SUITE 30, MALVERN PA 19355 |
John Sang Lee | officer: Chief Medical Officer | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PKWY., SUITE 30, MALVERN PA 19355 |
Susan Elizabeth Arnold | officer: VP, Preclinical and Chem | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY DRIVE, SUITE 30, MALVERN PA 19355 |
Kristopher Hanson | officer: VP, Head of Legal | C/O PHASEBIO PHARMACEUTICALS, INC., 1 GREAT VALLEY PKWY., SUITE 30, MALVERN PA 19355 |
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