Turners Automotive Group (ASX:TRA) ROCE % : 22.67% (As of Sep. 2023)

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What is Turners Automotive Group 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. Turners Automotive Group's annualized ROCE % for the quarter that ended in Sep. 2023 was 22.67%.

Turners Automotive Group ROCE % Historical Data

The historical data trend for Turners Automotive Group'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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Turners Automotive Group ROCE % Chart

Turners Automotive Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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7.34

8.23

8.71

7.77

11.83

Turners Automotive Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROCE %	Get a 7-Day Free Trial															12.40	9.44	11.21	20.60	22.67

Turners Automotive Group ROCE % Calculation

Turners Automotive Group's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	60.885	/	( ( (768.983 - 57.787)	+	(792.183 - 474.043) )	/ 2 )
	=	60.885	/	( (711.196	+	318.14)	/ 2 )
	=	60.885	/	514.668
	=	11.83 %

Turners Automotive Group's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	72.122	/	( ( (792.183 - 474.043)	+	(787.116 - 469.111) )	/ 2 )
	=	72.122	/	( ( 318.14	+	318.005 )	/ 2 )
	=	72.122	/	318.0725
	=	22.67 %

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

Turners Automotive Group (ASX:TRA) 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.

Turners Automotive Group ROCE % Related Terms

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Turners Automotive Group (ASX:TRA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Turners Automotive Group Ltd (ASX:TRA) » Definitions » ROCE %

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TRA:New Zealand

Address

Level 5, 70 Shortland Street, PO Box 1232, Auckland, NZL, 1140

Website

https://www.turnersautogroup.co.nz

Turners Automotive Group Ltd is an integrated financial services group, primarily operating in the automotive sector. Business activity generally functions through Automotive Retail, Finance, Insurance, Credit management, Corporate, and Others. The company derives the majority of its revenue from Automotive retail which is engaged in remarketing (motor vehicles, trucks, heavy machinery, and commercial goods) and purchasing goods for sale and related asset-based finance to consumers. Geographically the group's business activities are located in New Zealand and Australia.

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