Market Cap : 6.73 B | Enterprise Value : 16.35 B | PE Ratio : | PB Ratio : |
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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. APA's annualized ROCE % for the quarter that ended in Dec. 2020 was 6.21%.
* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.
APA's annualized ROCE % for the fiscal year that ended in Dec. 2020 is calculated as:
ROCE % | = | EBIT | / | ( (Capital Employed | + | Capital Employed) | / count ) |
(A: Dec. 2020 ) | (A: Dec. 2019 ) | (A: Dec. 2020 ) | |||||
= | EBIT | / | ( ( (Total Assets - Total Current Liabilities) | + | (Total Assets - Total Current Liabilities) ) | / count ) | |
(A: Dec. 2020 ) | (A: Dec. 2019 ) | (A: Dec. 2020 ) | |||||
= | -4414 | / | ( ( (18107 - 1855) | + | (12746 - 1308) ) | / 2 ) | |
= | -4414 | / | ( (16252 | + | 11438) | / 2 ) | |
= | -4414 | / | 13845 | ||||
= | -31.88 % |
APA's ROCE % of for the quarter that ended in Dec. 2020 is calculated as:
ROCE % | = | EBIT | / | ( (Capital Employed | + | Capital Employed) | / count ) |
(Q: Dec. 2020 ) | (Q: Sep. 2020 ) | (Q: Dec. 2020 ) | |||||
= | EBIT | / | ( ( (Total Assets - Total Current Liabilities) | + | (Total Assets - Total Current Liabilities) ) | / count ) | |
(Q: Dec. 2020 ) | (Q: Sep. 2020 ) | (Q: Dec. 2020 ) | |||||
= | 712 | / | ( ( (12875 - 1382) | + | (12746 - 1308) ) | / 2 ) | |
= | 712 | / | ( ( 11493 | + | 11438 ) | / 2 ) | |
= | 712 | / | 11465.5 | ||||
= | 6.21 % |
Note: The EBIT data used here is four times the quarterly (Dec. 2020) EBIT data.
* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.
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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