Tsakos Energy Navigation (Tsakos Energy Navigation) ROCE % : 7.86% (As of Dec. 2023)

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What is Tsakos Energy Navigation 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. Tsakos Energy Navigation's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.86%.

Tsakos Energy Navigation ROCE % Historical Data

The historical data trend for Tsakos Energy Navigation'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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Tsakos Energy Navigation ROCE % Chart

Tsakos Energy Navigation Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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2.89

2.78

-4.23

9.59

13.64

Tsakos Energy Navigation 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															17.07	25.40	10.89	7.06	7.86

Tsakos Energy Navigation ROCE % Calculation

Tsakos Energy Navigation'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 )
	=	407.679	/	( ( (3308.575 - 369.687)	+	(3364.09 - 323.202) )	/ 2 )
	=	407.679	/	( (2938.888	+	3040.888)	/ 2 )
	=	407.679	/	2989.888
	=	13.64 %

Tsakos Energy Navigation'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 )
	=	251.504	/	( ( (3359.169 - 0)	+	(3364.09 - 323.202) )	/ 2 )
	=	251.504	/	( ( 3359.169	+	3040.888 )	/ 2 )
	=	251.504	/	3200.0285
	=	7.86 %

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

Tsakos Energy Navigation (NYSE:TNPpD.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.

Tsakos Energy Navigation ROCE % Related Terms

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Tsakos Energy Navigation (Tsakos Energy Navigation) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Tsakos Energy Navigation Ltd (NYSE:TNPpD.PFD) » Definitions » ROCE %

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Traded in Other Exchanges

TNPpF.PFD:USA TNPpE.PFD:USA TNP:USA TK41:Germany

Address

367 Syngrou Avenue, Ktirio Macedonia, P.O Box 79141, Palaio Faliro, Athens, GRC, 175 64

Website

https://www.tenn.gr

Tsakos Energy Navigation Ltd is a seaborne transportation service provider for crude oil and petroleum products. The company's carriers cater to national and international independent oil companies and refiners. It generates revenue through charter contracts with its clients, which include time, bareboat, and voyage charters, contracts of affreightment, and pool arrangements.