Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) ROCE % : 17.51% (As of Dec. 2023)

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What is Compania deneamento de Minas Gerais - COPASA MG 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. Compania deneamento de Minas Gerais - COPASA MG's annualized ROCE % for the quarter that ended in Dec. 2023 was 17.51%.

Compania deneamento de Minas Gerais - COPASA MG ROCE % Historical Data

The historical data trend for Compania deneamento de Minas Gerais - COPASA MG'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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Compania deneamento de Minas Gerais - COPASA MG ROCE % Chart

Compania deneamento de Minas Gerais - COPASA MG Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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11.94

12.13

9.07

12.44

17.02

Compania deneamento de Minas Gerais - COPASA MG Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															13.52	18.43	13.47	15.52	17.51

Compania deneamento de Minas Gerais - COPASA MG ROCE % Calculation

Compania deneamento de Minas Gerais - COPASA MG'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 )
	=	1994.507	/	( ( (13189.607 - 1937.386)	+	(14189.863 - 2011.67) )	/ 2 )
	=	1994.507	/	( (11252.221	+	12178.193)	/ 2 )
	=	1994.507	/	11715.207
	=	17.02 %

Compania deneamento de Minas Gerais - COPASA MG'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: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	2142.876	/	( ( (14016.273 - 1714.998)	+	(14189.863 - 2011.67) )	/ 2 )
	=	2142.876	/	( ( 12301.275	+	12178.193 )	/ 2 )
	=	2142.876	/	12239.734
	=	17.51 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) 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.

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Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Compania de Saneamento de Minas Gerais - COPASA MG (BSP:CSMG3) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Rua Mar de Espanha 525, Santo Antonio, Belo Horizonte, MG, BRA, 30330900

Website

http://www.copasa.com.br

COPASA MG provides water supply, sewage, and solid waste services. The company operates out of subsidiaries COPASA Serviços de Irrigaçao S.A., COPASA Aguas Minerais de Minas S.A, and COPANOR. COPASA Serviços de Irrigaçao S.A. manages, performs, and sells irrigation system services. COPASA Águas Minerais de Minas S.A. produces, bottles, distributes, and sells mineral water. COPANOR provides water supply and sewage treatment services across the North and Northeast regions of the State of Minas Gerais. A majority of revenue is derived from water services while the rest is derived from sewage services. The company operates out of Brazil, where a significant amount of revenue is generated.

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