Sibanye Stillwater (JSE:SSW) ROCE %

: 15.23% (As of Jun. 2023)

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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. Sibanye Stillwater's annualized ROCE % for the quarter that ended in Jun. 2023 was 15.23%.

Sibanye Stillwater ROCE % Historical Data

The historical data trend for Sibanye Stillwater'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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Sibanye Stillwater Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

1.65

1.53

37.20

39.60

21.54

Sibanye Stillwater Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
ROCE %																58.90	21.94	28.02	15.32	15.23

Sibanye Stillwater ROCE % Calculation

Sibanye Stillwater's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	30039	/	( ( (152994 - 20541)	+	(166631 - 20219) )	/ 2 )
	=	30039	/	( (132453	+	146412)	/ 2 )
	=	30039	/	139432.5
	=	21.54 %

Sibanye Stillwater's ROCE % of for the quarter that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	23512	/	( ( (166631 - 20219)	+	(180424 - 18022) )	/ 2 )
	=	23512	/	( ( 146412	+	162402 )	/ 2 )
	=	23512	/	154407
	=	15.23 %

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

Sibanye Stillwater (JSE:SSW) 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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Sibanye Stillwater (JSE:SSW) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Sibanye Stillwater Ltd (JSE:SSW) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

SBYSF:USA SBSW:USA SBSW:Mexico S1BS34:Brazil

Address

Cnr 14th Avenue and Hendrik Potgieter Road, Bridgeview House, Building 11, Ground Floor, Lakeview Avenue, Constantia Office Park, Weltevreden Park, Roodepoort, GT, ZAF, 1709

Website

https://www.sibanyestillwater.com

Sibanye Stillwater Ltd is a South Africa-focused mining company. The Group currently owns and operates five underground and surface gold operations in South Africa: the Cooke, DRDGOLD, Driefontein, and Kloof operations in the West Witwatersrand region, and the Beatrix Operation in the southern Free State province. In addition to mining, the company owns and manages extraction and processing facilities at its operations, where gold-bearing ore is treated and beneficiated to produce gold dore. The gold dore is further refined at Rand Refinery into gold bars with a purity of at least 99.5% and is then sold on international markets. Sibanye holds a 44% interest in Rand Refinery, global refiners of gold, and the largest in Africa. Rand Refinery markets gold to customers around the world.

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