Spirit Airlines (STU:S64) ROCE % : -10.14% (As of Dec. 2023)

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What is Spirit Airlines 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. Spirit Airlines's annualized ROCE % for the quarter that ended in Dec. 2023 was -10.14%.

Spirit Airlines ROCE % Historical Data

The historical data trend for Spirit Airlines'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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Spirit Airlines ROCE % Chart

Spirit Airlines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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10.34

-7.40

-5.78

-8.33

-5.61

Spirit Airlines 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															-16.50	-5.35	2.36	-9.07	-10.14

Spirit Airlines ROCE % Calculation

Spirit Airlines's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-399.898	/	( ( (8670.427 - 1507.172)	+	(8635.606 - 1532.85) )	/ 2 )
	=	-399.898	/	( (7163.255	+	7102.756)	/ 2 )
	=	-399.898	/	7133.0055
	=	-5.61 %

Spirit Airlines'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 )
	=	-728.552	/	( ( (8771.772 - 1499.95)	+	(8635.606 - 1532.85) )	/ 2 )
	=	-728.552	/	( ( 7271.822	+	7102.756 )	/ 2 )
	=	-728.552	/	7187.289
	=	-10.14 %

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

Spirit Airlines (STU:S64) 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.

Spirit Airlines ROCE % Related Terms

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Spirit Airlines (STU:S64) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Spirit Airlines Inc (STU:S64) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

SAVE:USA SAVE:Mexico S64:Germany

Address

2800 Executive Way, Miramar, FL, USA, 33025

Website

https://www.spirit.com

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Spirit Airlines (STU:S64) Headlines

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