Tsuruha Holdings (TSE:3391) ROCE % : 14.51% (As of Feb. 2024)

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What is Tsuruha Holdings 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. Tsuruha Holdings's annualized ROCE % for the quarter that ended in Feb. 2024 was 14.51%.

Tsuruha Holdings ROCE % Historical Data

The historical data trend for Tsuruha Holdings'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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Tsuruha Holdings ROCE % Chart

Tsuruha Holdings Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

ROCE %

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18.03

16.95

15.44

11.38

12.53

Tsuruha Holdings Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
ROCE %	Get a 7-Day Free Trial															14.45	6.33	15.83	14.85	14.51

Tsuruha Holdings ROCE % Calculation

Tsuruha Holdings's annualized ROCE % for the fiscal year that ended in May. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: May. 2023 )		(A: May. 2022 )		(A: May. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: May. 2023 )		(A: May. 2022 )		(A: May. 2023 )
	=	44756	/	( ( (562363 - 213613)	+	(539830 - 174316) )	/ 2 )
	=	44756	/	( (348750	+	365514)	/ 2 )
	=	44756	/	357132
	=	12.53 %

Tsuruha Holdings's ROCE % of for the quarter that ended in Feb. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	53532	/	( ( (550663 - 181548)	+	(542875 - 174378) )	/ 2 )
	=	53532	/	( ( 369115	+	368497 )	/ 2 )
	=	53532	/	368806
	=	14.51 %

(1) Note: The EBIT data used here is four times the quarterly (Feb. 2024) EBIT data.

Tsuruha Holdings (TSE:3391) 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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Tsuruha Holdings (TSE:3391) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Tsuruha Holdings Inc (TSE:3391) » Definitions » ROCE %

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TSUSF:USA

Address

20, Higashi 24-chome, Higashi Sapporo 1-21, Kitaku, JPN, 065-0024

Website

http://www.tsuruha-hd.co.jp

Tsuruha Holdings Inc manages pharmaceutical companies in Japan, where the drugstore business is the core of their operations. The company generates revenue through selling prescription and over-the-counter drugs, medical supplies, nursing care products, discount cosmetics, health products, and a miscellaneous assortment of general merchandise. Tsuruha also provides blood testing services, disease prevention solutions, and at-home drug delivery services.

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