What is Nova Eye Medical Return-on-Tangible-Equity?
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Nova Eye Medical's annualized net income for the quarter that ended in Dec. 2023 was $-7.53 Mil. Nova Eye Medical's average shareholder tangible equity for the quarter that ended in Dec. 2023 was $7.97 Mil. Therefore, Nova Eye Medical's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2023 was -94.49%.
The historical rank and industry rank for Nova Eye Medical's Return-on-Tangible-Equity or its related term are showing as below:
ELXMF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -103.55 Med: -4.3 Max: 44.01
Current: -103.55
During the past 13 years, Nova Eye Medical's highest Return-on-Tangible-Equity was 44.01%. The lowest was -103.55%. And the median was -4.30%.
ELXMF's Return-on-Tangible-Equity is ranked worse than 85.05% of 756
companies
in the Medical Devices & Instruments industry
Industry Median: 1.23
vs ELXMF: -103.55
Nova Eye Medical Return-on-Tangible-Equity Historical Data
The historical data trend for Nova Eye Medical's Return-on-Tangible-Equity 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.
Competitive Comparison of Nova Eye Medical's Return-on-Tangible-Equity
For the Medical Devices subindustry, Nova Eye Medical's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Nova Eye Medical's Return-on-Tangible-Equity Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Nova Eye Medical's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Nova Eye Medical's Return-on-Tangible-Equity falls into.
Nova Eye Medical Return-on-Tangible-Equity Calculation
Nova Eye Medical's annualized Return-on-Tangible-Equity for the fiscal year that ended in Jun. 2023 is calculated as
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Dec. 2023) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
Nova Eye Medical (OTCPK:ELXMF) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Nova Eye Medical Return-on-Tangible-Equity Related Terms
Thank you for viewing the detailed overview of Nova Eye Medical's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
Nova Eye Medical (Nova Eye Medical) Business Description
Nova Eye Medical Ltd is a medical technology company that develops, manufactures and sells a portfolio of proprietary ophthalmic treatment technologies and devices. Used by eye surgeons globally, these technologies include iTrack minimally invasive glaucoma surgery (MIGS), a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patient reliance on anti-glaucoma medications for mild-moderate glaucoma. The company's operating segment include AlphaRET and Glaucoma Surgical Devices, it generates maximum revenue from Glaucoma Surgical Devices. Geographically, it derives a majority of revenue from the United States of America.
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