Barrick Gold (XSWX:ABX) ROCE %

: 7.11% (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. Barrick Gold's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.11%.

Barrick Gold ROCE % Historical Data

The historical data trend for Barrick Gold'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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Barrick Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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21.48

11.61

11.38

4.64

7.06

Barrick Gold 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															-8.17	5.51	8.01	8.47	7.11

Barrick Gold ROCE % Calculation

Barrick Gold'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 )
	=	2736.227	/	( ( (42820.994 - 2906.592)	+	(39617.353 - 2037.469) )	/ 2 )
	=	2736.227	/	( (39914.402	+	37579.884)	/ 2 )
	=	2736.227	/	38747.143
	=	7.06 %

Barrick Gold'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 )
	=	2715.472	/	( ( (41017.262 - 2175.233)	+	(39617.353 - 2037.469) )	/ 2 )
	=	2715.472	/	( ( 38842.029	+	37579.884 )	/ 2 )
	=	2715.472	/	38210.9565
	=	7.11 %

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

Barrick Gold (XSWX:ABX) 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.

Barrick Gold ROCE % Related Terms

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Barrick Gold (XSWX:ABX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Barrick Gold Corp (XSWX:ABX) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

GOLD:USA ABX:Peru ABX.N:Mexico 0R22:UK ABR:Germany ABX:Canada

Address

161 Bay Street, Brookfield Place, Suite 3700, P.O. Box 212, TD Canada Trust Tower, Toronto, ON, CAN, M5J 2S1

Website

https://www.barrick.com

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2022, the firm produced nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper. At end 2022, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.

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