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ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Amprius Technologies's annualized return on capital (ROC %) for the quarter that ended in Mar. 2024 was -63.36%.
As of today (2024-06-04), Amprius Technologies's WACC % is 9.08%. Amprius Technologies's ROC % is -96.63% (calculated using TTM income statement data). Amprius Technologies earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Amprius Technologies's ROC % 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.
Amprius Technologies Annual Data | |||||||||
Trend | Dec20 | Dec21 | Dec22 | Dec23 | |||||
ROC % | -116.14 | -159.21 | -192.09 | -100.50 |
Amprius Technologies Quarterly Data | |||||||||||||
Dec20 | Mar21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
ROC % | Get a 7-Day Free Trial | -243.71 | -192.45 | -133.85 | -82.08 | -63.36 |
Amprius Technologies's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2023 is calculated as:
ROC % (A: Dec. 2023 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Dec. 2022 ) | + | Invested Capital (A: Dec. 2023 )) | / count ) |
= | -38.709 * ( 1 - 0% ) | / | ( (11.853 | + | 65.18) | / 2 ) |
= | -38.709 | / | 38.5165 | |||
= | -100.50 % |
where
Invested Capital | (A: Dec. 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 | )) |
= | 83.171 | - | 3.062 | - | ( 69.696 | - | max(0, 6.917 | - | 75.173 | + | 69.696 | )) |
= | 11.853 |
Invested Capital | (A: 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 | )) |
= | 107.736 | - | 5.491 | - | ( 45.761 | - | max(0, 13.457 | - | 50.522 | + | 45.761 | )) |
= | 65.18 |
Amprius Technologies's annualized Return on Capital (ROC %) for the quarter that ended in Mar. 2024 is calculated as:
ROC % (Q: Mar. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Dec. 2023 ) | + | Invested Capital (Q: Mar. 2024 )) | / count ) |
= | -41.276 * ( 1 - 0% ) | / | ( (65.18 | + | 65.101) | / 2 ) |
= | -41.276 | / | 65.1405 | |||
= | -63.36 % |
where
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 | )) |
= | 107.736 | - | 5.491 | - | ( 45.761 | - | max(0, 13.457 | - | 50.522 | + | 45.761 | )) |
= | 65.18 |
Invested Capital | (Q: Mar. 2024 ) | |||||||||||
= | 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 | )) |
= | 104.687 | - | 3.725 | - | ( 39.045 | - | max(0, 9.762 | - | 45.623 | + | 39.045 | )) |
= | 65.101 |
Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.
* 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.
Amprius Technologies (NYSE:AMPX) ROC % Explanation
ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 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 ROC % 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, Amprius Technologies's WACC % is 9.08%. Amprius Technologies's ROC % is -96.63% (calculated using TTM income statement data). Amprius Technologies earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROC % 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.
Thank you for viewing the detailed overview of Amprius Technologies's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Jonathan Bornstein | officer: Chief Operating Officer | 1180 PAGE AVENUE, FREMONT CA 94538 |
Amprius, Inc. | 10 percent owner | 1180 PAGE AVENUE, FREMONT CA 94538 |
Justin E Mirro | director, 10 percent owner, officer: See Remarks | 40300 TRADITIONS DRIVE, NORTHVILLE MI 48168 |
Stefan Constantin Ionel | officer: Chief Technology Officer | 1180 PAGE AVENUE, FREMONT CA 94538 |
Mary Gustanski | director | C/O DELPHI TECHNOLOGIES PLC, COURTENEY ROAD HOATH WAY, GILLINGHAM, KENT X0 X0 ME8 0RU |
Kathleen A Bayless | director | 1251 MCKAY DRIVE, SAN JOSE CA 95131 |
Donald R Dixon | director | 400 S EL CAMINO REAL SUITE 1050, SAN MATEO CA 94402 |
Sandra Wallach | officer: Chief Financial Officer | C/O IDENTIV,INC.,2201 WALNUT AVENUE,, SUITE 310, FREMONT CA 94538 |
Steven Chu | director | NVIDIA CORPORATION, 2701 SAN TOMAS EXPRESSWAY, SANTA CLARA CA 95050 |
Kang Sun | director, officer: See Remarks | 1180 PAGE AVENUE, FREMONT CA 94538 |
Wen Hsuan Hsieh | director | C/O DESKTOP METAL, INC., 63 THIRD AVENUE, BURLINGTON MA 01803 |
Anders Pettersson | director | CARITASGATAN 23A, LIMHAMN V7 216 18 |
Dieter Zetsche | officer: Vice Chairman and President | ROSENGARTENSTR. 48, STUTTGART 2M 70184 |
Kensington Capital Sponsor Iv Llc | 10 percent owner | 1400 OLD COUNTRY ROAD, SUITE 301, WESTBURY NY 11590 |
Nicole Nason | director | 17 PIONEER MILL WAY, ALEXANDRIA VA 22314 |
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