Novo Resources (TSX:NVO) ROCE % : -32.08% (As of Dec. 2023)

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What is Novo 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. Novo Resources's annualized ROCE % for the quarter that ended in Dec. 2023 was -32.08%.

Novo Resources ROCE % Historical Data

The historical data trend for Novo 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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Novo Resources ROCE % Chart

Novo Resources Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Dec21

Dec22

Dec23

ROCE %

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-10.10

-10.65

6.74

-2.23

-29.62

Novo Resources Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															122.03	-28.43	-20.80	-18.66	-32.08

Novo Resources ROCE % Calculation

Novo Resources'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 )
	=	-49.014	/	( ( (256.161 - 22.732)	+	(106.451 - 8.976) )	/ 2 )
	=	-49.014	/	( (233.429	+	97.475)	/ 2 )
	=	-49.014	/	165.452
	=	-29.62 %

Novo Resources'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 )
	=	-48.34	/	( ( (209.692 - 5.813)	+	(106.451 - 8.976) )	/ 2 )
	=	-48.34	/	( ( 203.879	+	97.475 )	/ 2 )
	=	-48.34	/	150.677
	=	-32.08 %

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

Novo Resources (TSX:NVO) 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.

Novo Resources ROCE % Related Terms

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Novo Resources (TSX:NVO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novo Resources Corp (TSX:NVO) » Definitions » ROCE %

Comparable Companies

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NSRPF:USA 1NO:Germany NVO:Australia

Address

1199 West Hastings Street, Vancouver, BC, CAN, V6E 3T5

Website

https://www.novoresources.com

Novo Resources Corp is a company engaged in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold. The organization has business interests in properties located in Australia, Canada, and the USA. Its projects include Beatons Creek Property, Millennium Property, Blue Spec; Paleo-Placer; Comet Well, and others. It has two segments Mining operations and exploration operations.