29Metals (ASX:29M) ROCE % : -16.31% (As of Dec. 2023)

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What is 29Metals 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. 29Metals's annualized ROCE % for the quarter that ended in Dec. 2023 was -16.31%.

29Metals ROCE % Historical Data

The historical data trend for 29Metals'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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29Metals ROCE % Chart

29Metals Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

ROCE %

4.27

-4.30

-39.28

29Metals Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	-	1.49	-10.16	-63.76	-16.31

29Metals ROCE % Calculation

29Metals's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-351.546	/	( ( (1292.972 - 223.755)	+	(981.205 - 260.511) )	/ 2 )
	=	-351.546	/	( (1069.217	+	720.694)	/ 2 )
	=	-351.546	/	894.9555
	=	-39.28 %

29Metals's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-120.602	/	( ( (984.305 - 226.317)	+	(981.205 - 260.511) )	/ 2 )
	=	-120.602	/	( ( 757.988	+	720.694 )	/ 2 )
	=	-120.602	/	739.341
	=	-16.31 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

29Metals (ASX:29M) 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.

29Metals ROCE % Related Terms

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29Metals (ASX:29M) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » 29Metals Ltd (ASX:29M) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

150 Collins Street, Level 2, Melbourne, VIC, AUS, 3000

Website

https://www.29metals.com

29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver).

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