Stillwater Critical Minerals (Stillwater Critical Minerals) ROIC % : -103.34% (As of Dec. 2023)

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What is Stillwater Critical Minerals ROIC %?

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Stillwater Critical Minerals's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2023 was -103.34%.

As of today (2024-05-10), Stillwater Critical Minerals's WACC % is 13.64%. Stillwater Critical Minerals's ROIC % is -128.45% (calculated using TTM income statement data). Stillwater Critical Minerals earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Stillwater Critical Minerals ROIC % Historical Data

The historical data trend for Stillwater Critical Minerals's ROIC % 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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Stillwater Critical Minerals ROIC % Chart

Stillwater Critical Minerals Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROIC %

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-177.05

-143.44

-170.03

-190.19

-110.74

Stillwater Critical Minerals Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23
ROIC %	Get a 7-Day Free Trial															-115.27	-81.26	-104.21	-333.89	-103.34

Competitive Comparison of Stillwater Critical Minerals's ROIC %

For the Other Industrial Metals & Mining subindustry, Stillwater Critical Minerals's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Stillwater Critical Minerals's ROIC % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Stillwater Critical Minerals's ROIC % distribution charts can be found below:

* The bar in red indicates where Stillwater Critical Minerals's ROIC % falls into.

Stillwater Critical Minerals ROIC % Calculation

Stillwater Critical Minerals's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Mar. 2023 is calculated as:

	ROIC % (A: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Mar. 2022 )	+	Invested Capital (A: Mar. 2023 ))	/ count )
=	-3.279 * ( 1 - 0% )	/	( (3.092	+	2.83)	/ 2 )
=	-3.279	/	2.961
=	-110.74 %

where

	Invested Capital		(A: Mar. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	5.318	-	0.329	-	( 1.897	-	max(0, 0.329	-	2.611	+	1.897	))
=	3.092

	Invested Capital		(A: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	3.476	-	0.341	-	( 0.305	-	max(0, 0.341	-	1.062	+	0.305	))
=	2.83

Stillwater Critical Minerals's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Dec. 2023 is calculated as:

	ROIC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-2.988 * ( 1 - 0% )	/	( (2.664	+	3.119)	/ 2 )
=	-2.988	/	2.8915
=	-103.34 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.954	-	0.831	-	( 1.459	-	max(0, 0.831	-	2.304	+	1.459	))
=	2.664

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.041	-	0.206	-	( 0.716	-	max(0, 0.206	-	1.368	+	0.716	))
=	3.119

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

Stillwater Critical Minerals (OTCPK:PGEZF) ROIC % Explanation

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROIC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Stillwater Critical Minerals's WACC % is 13.64%. Stillwater Critical Minerals's ROIC % is -128.45% (calculated using TTM income statement data).

Be Aware

Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Stillwater Critical Minerals ROIC % Related Terms

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Stillwater Critical Minerals (Stillwater Critical Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Stillwater Critical Minerals Corp (OTCPK:PGEZF) » Definitions » ROIC %

Comparable Companies

Traded in Other Exchanges

J0G:Germany PGE:Canada

Address

409 Granville Street, Suite 904, Vancouver, BC, CAN, V6C 1T2

Website

https://www.criticalminerals.com

Stillwater Critical Minerals Corp is a Canadian mineral exploration and acquisition company focused on the development of platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The company's core asset is the Stillwater West PGE-Ni-Cu project in Montana, USA. It also holds the high-grade Black Lake-Drayton Gold project in northwest Ontario, and the Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon Territory, Yankee-Dundee project, and Duke Island Copper-Nickel-PGE Project.