AGF Management (TSX:AGF.B) ROCE % : 12.57% (As of Feb. 2024)

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What is AGF Management 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. AGF Management's annualized ROCE % for the quarter that ended in Feb. 2024 was 12.57%.

AGF Management ROCE % Historical Data

The historical data trend for AGF Management'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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AGF Management ROCE % Chart

AGF Management Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

ROCE %

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4.85

15.75

4.32

7.01

9.12

AGF Management 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															7.64	12.26	9.48	6.93	12.57

AGF Management ROCE % Calculation

AGF Management's annualized ROCE % for the fiscal year that ended in Nov. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Nov. 2023 )		(A: Nov. 2022 )		(A: Nov. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Nov. 2023 )		(A: Nov. 2022 )		(A: Nov. 2023 )
	=	119.894	/	( ( (1368.989 - 75.717)	+	(1420.278 - 84.252) )	/ 2 )
	=	119.894	/	( (1293.272	+	1336.026)	/ 2 )
	=	119.894	/	1314.649
	=	9.12 %

AGF Management'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 )
	=	171.488	/	( ( (1420.278 - 84.252)	+	(1451.111 - 59.307) )	/ 2 )
	=	171.488	/	( ( 1336.026	+	1391.804 )	/ 2 )
	=	171.488	/	1363.915
	=	12.57 %

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

AGF Management (TSX:AGF.B) 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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AGF Management (TSX:AGF.B) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » AGF Management Ltd (TSX:AGF.B) » Definitions » ROCE %

Comparable Companies

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AGFMF:USA A3J:Germany

Address

81 Bay Street, Suite 3900, CIBC SQUARE, Tower One, Toronto, ON, CAN, M5J 0G1

Website

https://www.agf.com

AGF Management is a Canada-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of September, the firm had CAD 41.0 billion in total assets under management. Its funds are weighted more heavily toward equities, with close to three fourths of retail AUM being equity-related. That said, the company does use fundamental, quantitative, and alternative strategies to manage its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with one fourth of its total AUM derived from institutional and subadvised accounts. The company derives 17% of its managed assets from high-net-worth clients.

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