Corona (TSE:5909) ROCE % : 15.07% (As of Dec. 2023)

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What is Corona 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. Corona's annualized ROCE % for the quarter that ended in Dec. 2023 was 15.07%.

Corona ROCE % Historical Data

The historical data trend for Corona'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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Corona ROCE % Chart

Corona Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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2.47

0.97

1.42

1.60

2.84

Corona 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															14.27	-6.15	-1.39	1.47	15.07

Corona ROCE % Calculation

Corona'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 )
	=	2126	/	( ( (98304 - 23470)	+	(102158 - 27238) )	/ 2 )
	=	2126	/	( (74834	+	74920)	/ 2 )
	=	2126	/	74877
	=	2.84 %

Corona'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 )
	=	11364	/	( ( (101586 - 26920)	+	(105877 - 29677) )	/ 2 )
	=	11364	/	( ( 74666	+	76200 )	/ 2 )
	=	11364	/	75433
	=	15.07 %

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

Corona (TSE:5909) 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.

Corona ROCE % Related Terms

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Corona (TSE:5909) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Corona Corp (TSE:5909) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

7-7 Higashi-shinbo, Sanjo, Niigata, JPN, 955-8510

Website

http://www.corona.co.jp

Corona Corp engages in the manufacture and sale of heating, air-conditioning and household appliances. It also provides pressure type kerosene cooking stoves; developing a set of technological skills generating epoch-making products; manufacturer of kerosene heating appliances; kerosene combustion technology of the pressure type kerosene heaters; and related supplementary services. Its products include heating appliances such as patented hand clean tanks, kerosene fan heaters and portable kerosene heaters.

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