Novagold Resources (TSX:NG) ROCE % : -20.66% (As of Feb. 2024)

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What is Novagold Resources 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. Novagold Resources's annualized ROCE % for the quarter that ended in Feb. 2024 was -20.66%.

Novagold Resources ROCE % Historical Data

The historical data trend for Novagold Resources'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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Novagold Resources ROCE % Chart

Novagold Resources Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

ROCE %

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-7.69

-12.15

-16.25

-27.02

-23.97

Novagold Resources 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															-20.14	-31.80	-22.30	-21.38	-20.66

Novagold Resources ROCE % Calculation

Novagold Resources'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 )
	=	-46.194	/	( ( (214.221 - 6.189)	+	(182.701 - 5.354) )	/ 2 )
	=	-46.194	/	( (208.032	+	177.347)	/ 2 )
	=	-46.194	/	192.6895
	=	-23.97 %

Novagold Resources'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 )
	=	-35.752	/	( ( (182.701 - 5.354)	+	(171.293 - 2.475) )	/ 2 )
	=	-35.752	/	( ( 177.347	+	168.818 )	/ 2 )
	=	-35.752	/	173.0825
	=	-20.66 %

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

Novagold Resources (TSX:NG) 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.

Novagold Resources ROCE % Related Terms

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Novagold Resources (TSX:NG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novagold Resources Inc (TSX:NG) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NG:USA NGR:Germany NG:Argentina

Address

201 South Main Street, Suite 400, Salt Lake City, UT, USA, 84111

Website

https://www.novagold.com

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.