Corning Natural Gas Holding (Corning Natural Gas Holding) ROCE % : 13.14% (As of Mar. 2022)

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What is Corning Natural Gas Holding 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. Corning Natural Gas Holding's annualized ROCE % for the quarter that ended in Mar. 2022 was 13.14%.

Corning Natural Gas Holding ROCE % Historical Data

The historical data trend for Corning Natural Gas Holding'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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Corning Natural Gas Holding ROCE % Chart

Corning Natural Gas Holding Annual Data

Trend

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

ROCE %

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5.22

6.29

6.80

6.09

4.59

Corning Natural Gas Holding Quarterly Data
	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22
ROCE %	Get a 7-Day Free Trial															13.70	2.95	-2.05	5.23	13.14

Corning Natural Gas Holding ROCE % Calculation

Corning Natural Gas Holding's annualized ROCE % for the fiscal year that ended in Sep. 2021 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2021 )		(A: Sep. 2020 )		(A: Sep. 2021 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2021 )		(A: Sep. 2020 )		(A: Sep. 2021 )
	=	5.422	/	( ( (136.459 - 18.75)	+	(144.055 - 25.639) )	/ 2 )
	=	5.422	/	( (117.709	+	118.416)	/ 2 )
	=	5.422	/	118.0625
	=	4.59 %

Corning Natural Gas Holding's ROCE % of for the quarter that ended in Mar. 2022 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2022 )		(Q: Dec. 2021 )		(Q: Mar. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2022 )		(Q: Dec. 2021 )		(Q: Mar. 2022 )
	=	16.148	/	( ( (148.09 - 25.541)	+	(152.913 - 29.751) )	/ 2 )
	=	16.148	/	( ( 122.549	+	123.162 )	/ 2 )
	=	16.148	/	122.8555
	=	13.14 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2022) EBIT data.

Corning Natural Gas Holding (OTCPK:CNIGO.PFD) 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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Corning Natural Gas Holding (Corning Natural Gas Holding) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Corning Natural Gas Holding Corp (OTCPK:CNIGO.PFD) » Definitions » ROCE %

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Traded in Other Exchanges

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Address

330 West William Street, Corning, NY, USA, 14830

Website

http://www.corninggas.com

Corning Natural Gas Holding Corp, through its subsidiaries, is engaged in natural gas and electric distribution. Its segments include Gas Company, Pike, Leatherstocking companies, and Holding company. The company serves residential, commercial, industrial, and municipal customers. The company generates the vast majority of its revenue from Gas distribution.