voestalpine AG (WBO:VOE) ROCE %

: 7.85% (As of Dec. 2023)

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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. voestalpine AG's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.85%.

voestalpine AG ROCE % Historical Data

The historical data trend for voestalpine AG'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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voestalpine AG Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

7.52

-0.59

3.43

14.22

15.12

voestalpine AG Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %																9.16	18.08	12.11	8.36	7.85

voestalpine AG ROCE % Calculation

voestalpine AG's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	1672.3	/	( ( (17024.7 - 6034.6)	+	(17092.8 - 5962.5) )	/ 2 )
	=	1672.3	/	( (10990.1	+	11130.3)	/ 2 )
	=	1672.3	/	11060.2
	=	15.12 %

voestalpine AG'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 )
	=	832.4	/	( ( (16668.9 - 5931.2)	+	(16606.7 - 6135.5) )	/ 2 )
	=	832.4	/	( ( 10737.7	+	10471.2 )	/ 2 )
	=	832.4	/	10604.45
	=	7.85 %

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

voestalpine AG (WBO:VOE) 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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voestalpine AG (WBO:VOE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » voestalpine AG (WBO:VOE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

VLPNY:USA VLPNF:USA 0MKX:UK VAS:Germany VOE:Czech Republic

Address

Voestalpine-Strasse 1, Linz, AUT, 4020

Website

https://www.voestalpine.com

voestalpine AG is an Austria-based holding company engaged in the manufacturing, processing and development of steel products. The company is divided into four divisions. The Steel Division is involved in the production of steel products and the casting of large turbines. The High-Performance metals Division provides metals for the automotive, consumer goods, power generation, energy and aviation sectors. The Metal Engineering division produces rails, turnout systems, track-based monitoring systems, specially treated wire and others. The Metal Forming Division provides customized special and precision sections, as well as solutions for systems in the construction, cab construction for commercial vehicles, and aviation sectors. The company generates its revenue from the European Union.

Executives

Dr. Franz Gasselsberger	Supervisory Board
Di Dr. Peter Schwab	Board of Directors
Herbert Eibensteiner	Board of Directors
Mag. Dipl.-ing. Robert Ottel	Board of Directors