Electrovaya (TSX:ELVA) ROCE % : -7.42% (As of Sep. 2023)

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What is Electrovaya 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. Electrovaya's annualized ROCE % for the quarter that ended in Sep. 2023 was -7.42%.

Electrovaya ROCE % Historical Data

The historical data trend for Electrovaya'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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Electrovaya ROCE % Chart

Electrovaya Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

ROCE %

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-1,420.15

3.20

Electrovaya Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
ROCE %	Get a 7-Day Free Trial															-	-141.96	38.39	28.69	-7.42

Electrovaya ROCE % Calculation

Electrovaya's annualized ROCE % for the fiscal year that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	0.204	/	( ( (29.598 - 30.229)	+	(49.407 - 36.007) )	/ 2 )
	=	0.204	/	( (-0.631	+	13.4)	/ 2 )
	=	0.204	/	6.3845
	=	3.20 %

Electrovaya's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	-0.916	/	( ( (44.593 - 33.289)	+	(49.407 - 36.007) )	/ 2 )
	=	-0.916	/	( ( 11.304	+	13.4 )	/ 2 )
	=	-0.916	/	12.352
	=	-7.42 %

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

Electrovaya (TSX:ELVA) 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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Electrovaya (TSX:ELVA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Electrovaya Inc (TSX:ELVA) » Definitions » ROCE %

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ELVA:USA 4EV0:Germany

Address

6688 Kitimat Road, Mississauga, ON, CAN, L5N 1P8

Website

https://www.electrovaya.com

Electrovaya Inc designs develop and manufacture proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. It is a technology-focused company with extensive IP. The company generates revenue from the sale of batteries and battery systems. Business operations are segmented based on large format batteries and others. This technology offers enhanced safety and industry leading battery longevity. Geographically it earns key revenue from the United States.