Akita Drilling (TSX:AKT.A) ROCE %

: 0.18% (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. Akita Drilling's annualized ROCE % for the quarter that ended in Dec. 2023 was 0.18%.

Akita Drilling ROCE % Historical Data

The historical data trend for Akita Drilling'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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Akita Drilling Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-5.07

-33.75

-7.93

4.37

10.86

Akita Drilling 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															18.60	19.52	12.30	10.46	0.18

Akita Drilling ROCE % Calculation

Akita Drilling's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	25.477	/	( ( (268.281 - 30.657)	+	(263.64 - 31.967) )	/ 2 )
	=	25.477	/	( (237.624	+	231.673)	/ 2 )
	=	25.477	/	234.6485
	=	10.86 %

Akita Drilling'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 )
	=	0.424	/	( ( (267.061 - 28.946)	+	(263.64 - 31.967) )	/ 2 )
	=	0.424	/	( ( 238.115	+	231.673 )	/ 2 )
	=	0.424	/	234.894
	=	0.18 %

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

Akita Drilling (TSX:AKT.A) 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.

Akita Drilling ROCE % Related Terms

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Akita Drilling (TSX:AKT.A) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Akita Drilling Ltd (TSX:AKT.A) » Definitions » ROCE %

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Traded in Other Exchanges

AKTAF:USA 774:Germany AKT.B:Canada

Address

333-7th Avenue SW, Suite 1000, Calgary, AB, CAN, T2P 2Z1

Website

https://www.akita-drilling.com

Akita Drilling Ltd is a Canadian oil and gas drilling contractor. The company is engaged in providing contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The company owns and operates over 35 drilling rigs. It is also involved in the drilling related to potash mining and the development of storage caverns.

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