Polynovo (FRA:MFJ) ROCE % : 2.79% (As of Dec. 2023)

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What is Polynovo 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. Polynovo's annualized ROCE % for the quarter that ended in Dec. 2023 was 2.79%.

Polynovo ROCE % Historical Data

The historical data trend for Polynovo'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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Polynovo ROCE % Chart

Polynovo Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-16.29

-15.04

-15.16

-3.35

-8.70

Polynovo Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															12.58	-20.45	-14.11	-2.47	2.79

Polynovo ROCE % Calculation

Polynovo's annualized ROCE % for the fiscal year that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	-2.941	/	( ( (23.249 - 5.156)	+	(57.375 - 7.847) )	/ 2 )
	=	-2.941	/	( (18.093	+	49.528)	/ 2 )
	=	-2.941	/	33.8105
	=	-8.70 %

Polynovo'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 )
	=	1.402	/	( ( (57.375 - 7.847)	+	(59.665 - 8.612) )	/ 2 )
	=	1.402	/	( ( 49.528	+	51.053 )	/ 2 )
	=	1.402	/	50.2905
	=	2.79 %

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

Polynovo (FRA:MFJ) 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.

Polynovo ROCE % Related Terms

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Polynovo (FRA:MFJ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Polynovo Ltd (FRA:MFJ) » Definitions » ROCE %

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CALZF:USA PNV:Australia

Address

320 Lorimer Street, Unit 2, Port Melbourne, VIC, AUS, 3207

Website

https://www.polynovo.com

Polynovo earns most of its revenue from U.S. sales of its NovoSorb Biodegradable Temporizing Matrix, or NovoSorb BTM. The product is a patented biodegradable synthetic scaffold to support the regeneration of the dermis when lost through surgery, trauma, burns, or other causes of tissue loss. Once the product is applied to a wound, it takes a few weeks for the dermal layer to fully integrate within the polymer scaffold before a clinician can delaminate the outer layer. A small wound would then close either naturally or with a dressing, while a larger wound would close through a split-skin graft or alternative product such as Avita's RECELL. NovoSorb BTM then slowly degrades to harmless byproducts which are fully absorbed in roughly 18 months.

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