Tokyo Electron (TSE:8035) ROCE %

: 32.36% (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. Tokyo Electron's annualized ROCE % for the quarter that ended in Dec. 2023 was 32.36%.

Tokyo Electron ROCE % Historical Data

The historical data trend for Tokyo Electron'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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Tokyo Electron Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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34.76

25.67

32.17

47.49

39.76

Tokyo Electron 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															29.70	38.23	19.96	23.76	32.36

Tokyo Electron ROCE % Calculation

Tokyo Electron'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 )
	=	617725	/	( ( (1894457 - 468578)	+	(2311594 - 629893) )	/ 2 )
	=	617725	/	( (1425879	+	1681701)	/ 2 )
	=	617725	/	1553790
	=	39.76 %

Tokyo Electron'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 )
	=	529844	/	( ( (2191741 - 577172)	+	(2217413 - 557006) )	/ 2 )
	=	529844	/	( ( 1614569	+	1660407 )	/ 2 )
	=	529844	/	1637488
	=	32.36 %

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

Tokyo Electron (TSE:8035) 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.

Tokyo Electron ROCE % Related Terms

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Tokyo Electron (TSE:8035) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Tokyo Electron Ltd (TSE:8035) » Definitions » ROCE %

Comparable Companies

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TOELY:USA TOELF:USA TKY:Germany

Address

Akasaka Biz Tower, 3-1 Akasaka 5-chome, Minato-ku, Tokyo, JPN, 107-6325

Website

http://www.tel.co.jp

Tokyo Electron is a major vendor of semiconductor fabrication tools. It operates primarily in the etch, deposition, and clean segments, which involve adding and removing materials to and from semiconductor wafers. Customers include leading-edge logic, foundry, and memory chipmakers such as Intel, TSMC, Micron, and Samsung.

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