Unicasa Ind Moveis (BSP:UCAS3) ROC % : 2.53% (As of Dec. 2023)

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What is Unicasa Ind Moveis ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Unicasa Ind Moveis's annualized return on capital (ROC %) for the quarter that ended in Dec. 2023 was 2.53%.

As of today (2024-05-14), Unicasa Ind Moveis's WACC % is 7.21%. Unicasa Ind Moveis's ROC % is 2.87% (calculated using TTM income statement data). Unicasa Ind Moveis earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Unicasa Ind Moveis ROC % Historical Data

The historical data trend for Unicasa Ind Moveis'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.

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Unicasa Ind Moveis ROC % Chart

Unicasa Ind Moveis Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC %

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8.08

7.80

12.40

10.71

2.99

Unicasa Ind Moveis Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROC %	Get a 7-Day Free Trial															5.22	3.61	0.42	3.35	2.53

Unicasa Ind Moveis ROC % Calculation

Unicasa Ind Moveis'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 )
=	6.895 * ( 1 - -12.87% )	/	( (230.334	+	289.66)	/ 2 )
=	7.7823865	/	259.997
=	2.99 %

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	))
=	279.263	-	21.448	-	( 28.08	-	max(0, 78.091	-	105.572	+	28.08	))
=	230.334

	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	))
=	349.181	-	19.969	-	( 59.578	-	max(0, 83.281	-	122.833	+	59.578	))
=	289.66

Unicasa Ind Moveis's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	2.464 * ( 1 - -194.79% )	/	( (284.584	+	289.66)	/ 2 )
=	7.2636256	/	287.122
=	2.53 %

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	))
=	304.455	-	14.254	-	( 34.701	-	max(0, 91.421	-	97.038	+	34.701	))
=	284.584

	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	))
=	349.181	-	19.969	-	( 59.578	-	max(0, 83.281	-	122.833	+	59.578	))
=	289.66

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

Unicasa Ind Moveis (BSP:UCAS3) 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, Unicasa Ind Moveis's WACC % is 7.21%. Unicasa Ind Moveis's ROC % is 2.87% (calculated using TTM income statement data). Unicasa Ind Moveis 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.

Unicasa Ind Moveis ROC % Related Terms

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Unicasa Ind Moveis (BSP:UCAS3) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Unicasa Ind Moveis SA (BSP:UCAS3) » Definitions » ROC %

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Address

RSC 470 Road , KM 212,930 s/n, PO Box 2505, Bento Goncalves, RS, BRA, 95707-540

Website

http://www.unicasamoveis.com.br

Unicasa Ind Moveis SA is a Brazil-based company engaged in the production and trade of furniture. The company is active in the manufacture, sale, import and export of furniture made of wood, iron, steel, and aluminium. It is involved in the production of furniture made of medium-density fiberboard and medium density particleboard. Additionally, the firm sells accessories and decoration items. Its product portfolio includes a range of furnishing solutions, including kitchens, bedrooms, closets, home theatres, laundries, and toilets, as well as furniture equipment for offices and children's rooms. Unicasa has a network of stores in Brazil and abroad, which sell its products under the brand names Dell Anno, Favorita, New and Casa Brasileira.

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