Keyence (TSE:6861) ROCE %

: 18.15% (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. Keyence's annualized ROCE % for the quarter that ended in Dec. 2023 was 18.15%.

Keyence ROCE % Historical Data

The historical data trend for Keyence'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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Keyence Annual Data

Trend

Mar11

Mar12

Mar14

Mar15

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

21.34

16.57

15.06

20.43

21.33

Keyence Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %																21.47	21.20	17.60	19.39	18.15

Keyence ROCE % Calculation

Keyence'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 )
	=	498915	/	( ( (2324037 - 146552)	+	(2650429 - 149261) )	/ 2 )
	=	498915	/	( (2177485	+	2501168)	/ 2 )
	=	498915	/	2339326.5
	=	21.33 %

Keyence'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 )
	=	487404	/	( ( (2801307 - 143526)	+	(2819378 - 107328) )	/ 2 )
	=	487404	/	( ( 2657781	+	2712050 )	/ 2 )
	=	487404	/	2684915.5
	=	18.15 %

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

Keyence (TSE:6861) 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.

Keyence ROCE % Related Terms

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Keyence (TSE:6861) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Keyence Corp (TSE:6861) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

KYCCF:USA KEY:Mexico KEE:Germany

Address

1-3-14, Higashi-nakajima, Higashi-Yodogawa, Osaka, JPN, 533-8555

Website

http://www.keyence.co.jp

Keyence develops and sells factory automation sensors, machine vision systems, barcode readers, programmable logic controllers, laser markers, measuring instruments, and digital microscopes. The company has a fabless business model where manufacturing of its products is outsourced to qualified contract manufacturing companies, while it focuses on product planning and development. It serves customers in automotive, metals/machining, semiconductor/electronics, food, pharmaceutical, and other industries. Keyence was founded in 1972 and is headquartered in Osaka, Japan.

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