Fortune Minerals (Fortune Minerals) ROCE % : -14.06% (As of Dec. 2023)

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What is Fortune Minerals 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. Fortune Minerals's annualized ROCE % for the quarter that ended in Dec. 2023 was -14.06%.

Fortune Minerals ROCE % Historical Data

The historical data trend for Fortune Minerals'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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Fortune Minerals ROCE % Chart

Fortune Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-1.98

-0.50

-2.54

Fortune Minerals 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															-2.19	-7.72	-3.10	-4.85	-14.06

Fortune Minerals ROCE % Calculation

Fortune Minerals'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 )
	=	-1.158	/	( ( (0.661 - 6.084)	+	(1.164 - 7.243) )	/ 2 )
	=	-1.158	/	( (-5.423	+	-6.079)	/ 2 )
	=	-1.158	/	-5.751
	=	20.14 %

Fortune Minerals'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 )
	=	-1.516	/	( ( (34.569 - 6.931)	+	(1.164 - 7.243) )	/ 2 )
	=	-1.516	/	( ( 27.638	+	-6.079 )	/ 2 )
	=	-1.516	/	10.7795
	=	-14.06 %

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

Fortune Minerals (OTCPK:FTMDF) 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.

Fortune Minerals ROCE % Related Terms

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Fortune Minerals (Fortune Minerals) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Minerals Ltd (OTCPK:FTMDF) » Definitions » ROCE %

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FT:Canada

Address

617 Wellington Street, London, ON, CAN, N6A 3R6

Website

https://www.fortuneminerals.com

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.