Mitek Systems (Mitek Systems) ROCE % : -5.86% (As of Dec. 2023)

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What is Mitek Systems 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. Mitek Systems's annualized ROCE % for the quarter that ended in Dec. 2023 was -5.86%.

Mitek Systems ROCE % Historical Data

The historical data trend for Mitek Systems'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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Mitek Systems ROCE % Chart

Mitek Systems Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

ROCE %

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-3.58

7.22

5.30

3.40

5.79

Mitek Systems 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															10.57	10.45	3.02	-1.30	-5.86

Mitek Systems ROCE % Calculation

Mitek Systems's annualized ROCE % for the fiscal year that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	19.404	/	( ( (364.479 - 48.458)	+	(405.375 - 51.497) )	/ 2 )
	=	19.404	/	( (316.021	+	353.878)	/ 2 )
	=	19.404	/	334.9495
	=	5.79 %

Mitek Systems'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 )
	=	-21.096	/	( ( (405.375 - 51.497)	+	(405.39 - 39.6) )	/ 2 )
	=	-21.096	/	( ( 353.878	+	365.79 )	/ 2 )
	=	-21.096	/	359.834
	=	-5.86 %

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

Mitek Systems (NAS:MITK) 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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Mitek Systems (Mitek Systems) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Mitek Systems Inc (NAS:MITK) » Definitions » ROCE %

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MKQ:Germany MKQ:Germany

Address

600 B Street, Suite 100, San Diego, CA, USA, 92101

Website

https://www.miteksystems.com

Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.

Executives

Christopher H Briggs	other: SVP Identity	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Michael E Diamond	other: General Manager	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Scipio Maximus Carnecchia	director, officer: CEO & Director	C/O MITEK SYSTEMS, INC., 600 B STREET, SUITE 100, SAN DIEGO CA 92101
Fuad Ahmad	officer: Interim CFO	461 SOUTH MILPITAS BLVD., MILPITAS CA 95035
Frank Teruel	officer: CFO	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Stephen Ritter	officer: Chief Technology Officer	600 B STREET SUITE 100, SAN DIEGO CA 92101
Jason Gray	officer: GC, Secretary & Admin Officer	600 B STREET SUITE 100, SAN DIEGO CA 92101
Scott Adam Marcus	officer: General Counsel	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Rahul Gupta	director	255 FISERV DRIVE, BROOKFIELD WI 53045
Susan Repo	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Scott R Carter	director	8911 BALBOA AVENUE, SUITE B, SAN DIEGO CA 92123
William K Aulet	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Jeffrey C Davison	officer: Chief Financial Officer	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Jane J. Thompson	director	628 GREEN VALLEY ROAD, SUITE 500, GREENSBORO NC 27408
Alex W Hart	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101