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Time Warner ROCE %

: 12.70% (As of Mar. 2018)
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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. Time Warner's annualized ROCE % for the quarter that ended in Mar. 2018 was 12.70%.


Time Warner ROCE % Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Time Warner Annual Data
Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
ROCE % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.60 10.62 12.44 11.74 12.85

Time Warner Quarterly Data
Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18
ROCE % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.48 12.69 15.39 6.42 12.70

Time Warner ROCE % Calculation

Time Warner's annualized ROCE % for the fiscal year that ended in Dec. 2017 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2017 )  (A: Dec. 2016 )(A: Dec. 2017 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2017 )  (A: Dec. 2016 )(A: Dec. 2017 )
=7159/( ( (65966 - 9703) + (69209 - 14077) )/ 2 )
=7159/( (56263+55132)/ 2 )
=7159/55697.5
=12.85 %

Time Warner's ROCE % of for the quarter that ended in Mar. 2018 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2018 )  (Q: Dec. 2017 )(Q: Mar. 2018 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2018 )  (Q: Dec. 2017 )(Q: Mar. 2018 )
=7060/( ( (69209 - 14077) + (68997 - 12945) )/ 2 )
=7060/( ( 55132 + 56052 )/ 2 )
=7060/55592
=12.70 %

Note: The EBIT data used here is four times the quarterly (Mar. 2018) EBIT data.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Time Warner  (NYSE:TWX) 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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