Headwater Exploration (TSX:HWX) ROCE % : 34.60% (As of Dec. 2023)

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What is Headwater Exploration 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. Headwater Exploration's annualized ROCE % for the quarter that ended in Dec. 2023 was 34.60%.

Headwater Exploration ROCE % Historical Data

The historical data trend for Headwater Exploration'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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Headwater Exploration ROCE % Chart

Headwater Exploration Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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2.87

-0.27

14.30

40.36

30.63

Headwater Exploration 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															34.62	25.01	25.21	39.02	34.60

Headwater Exploration ROCE % Calculation

Headwater Exploration'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 )
	=	204.696	/	( ( (734.742 - 112.16)	+	(836.335 - 122.314) )	/ 2 )
	=	204.696	/	( (622.582	+	714.021)	/ 2 )
	=	204.696	/	668.3015
	=	30.63 %

Headwater Exploration'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 )
	=	240.816	/	( ( (819.617 - 141.498)	+	(836.335 - 122.314) )	/ 2 )
	=	240.816	/	( ( 678.119	+	714.021 )	/ 2 )
	=	240.816	/	696.07
	=	34.60 %

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

Headwater Exploration (TSX:HWX) 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.

Headwater Exploration ROCE % Related Terms

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Headwater Exploration (TSX:HWX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Headwater Exploration Inc (TSX:HWX) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CDDRF:USA C6V:Germany

Address

500 - 4th Avenue S.W, Suite 1200, Calgary, AB, CAN, T2P 2V6

Website

https://www.headwaterexp.com

Headwater Exploration Inc is an oil and gas exploration and development company. It is engaged in the exploration, development, and production of petroleum and natural gas onshore in McCully Field, New Brunswick and Marten Hills, Alberta. The firm generates substantial revenue from the sale of commodities which include crude oil, natural gas and natural gas liquids.

Executives

Stephen Phillip Larke

Director

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