Cardiol Therapeutics (TSX:CRDL) ROCE % : -101.27% (As of Dec. 2023)

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What is Cardiol Therapeutics 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. Cardiol Therapeutics's annualized ROCE % for the quarter that ended in Dec. 2023 was -101.27%.

Cardiol Therapeutics ROCE % Historical Data

The historical data trend for Cardiol Therapeutics'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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Cardiol Therapeutics ROCE % Chart

Cardiol Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-73.26

-146.81

-86.22

-64.32

-73.88

Cardiol Therapeutics 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															-65.59	-63.70	-59.92	-83.02	-101.27

Cardiol Therapeutics ROCE % Calculation

Cardiol Therapeutics'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 )
	=	-29.786	/	( ( (62.029 - 9.805)	+	(36.701 - 8.295) )	/ 2 )
	=	-29.786	/	( (52.224	+	28.406)	/ 2 )
	=	-29.786	/	40.315
	=	-73.88 %

Cardiol Therapeutics'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 )
	=	-32.116	/	( ( (43.053 - 8.03)	+	(36.701 - 8.295) )	/ 2 )
	=	-32.116	/	( ( 35.023	+	28.406 )	/ 2 )
	=	-32.116	/	31.7145
	=	-101.27 %

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

Cardiol Therapeutics (TSX:CRDL) 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.

Cardiol Therapeutics ROCE % Related Terms

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Cardiol Therapeutics (TSX:CRDL) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Cardiol Therapeutics Inc (TSX:CRDL) » Definitions » ROCE %

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CRDL:USA CT9:Germany

Address

2265 Upper Middle Road East, Suite 602, Oakville, ON, CAN, L6H 0G5

Website

https://www.cardiolrx.com

Cardiol Therapeutics Inc is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart diseases. The company's lead product candidate, CardiolRx, is a pharmaceutically manufactured oral cannabidiol formulation that is being clinically developed for use in heart diseases. Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart which are a Phase II multi-national trial, the ARCHER trial, in acute myocarditis; and a Phase II multi-center open-label pilot study in recurrent pericarditis.

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