Astellas Pharma (TSE:4503) ROCE %

: 3.51% (As of Dec. 2023)

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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. Astellas Pharma's annualized ROCE % for the quarter that ended in Dec. 2023 was 3.51%.

Astellas Pharma ROCE % Historical Data

The historical data trend for Astellas Pharma'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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Astellas Pharma Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

17.65

17.03

9.24

9.73

8.36

Astellas Pharma Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %																13.79	-10.36	11.21	1.45	3.51

Astellas Pharma ROCE % Calculation

Astellas Pharma's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	141140	/	( ( (2332395 - 687411)	+	(2456518 - 726034) )	/ 2 )
	=	141140	/	( (1644984	+	1730484)	/ 2 )
	=	141140	/	1687734
	=	8.36 %

Astellas Pharma'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 )
	=	80572	/	( ( (3543021 - 1162259)	+	(3368682 - 1153715) )	/ 2 )
	=	80572	/	( ( 2380762	+	2214967 )	/ 2 )
	=	80572	/	2297864.5
	=	3.51 %

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

Astellas Pharma (TSE:4503) 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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Astellas Pharma (TSE:4503) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Astellas Pharma Inc (TSE:4503) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

ALPMY:USA ALPMF:USA 4503:Mexico YPHA:Germany

Address

2-5-1, Nihonbashi-Honcho, Chuo-ku, Tokyo, JPN, 103-8411

Website

http://www.astellas.com

Astellas Pharma Inc is a drug manufacturing company that sells pharmaceutical products across the globe. The vast majority of the company's revenue is derived from Japanese markets, followed by the Americas. Royalty income makes up a small percentage of Astellas' overall sales. Its largest therapeutic area by sales composition is oncology, followed by urology and transplantation. The company uses mergers and acquisitions as part of its long-term growth strategy. Astellas enters into strategic partnerships and licensing agreements to strengthen its commercialization platforms.

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