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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 %. CASI Pharmaceuticals's annualized return on capital (ROC %) for the quarter that ended in Sep. 2024 was -113.43%.
As of today (2025-03-14), CASI Pharmaceuticals's WACC % is 7.66%. CASI Pharmaceuticals's ROC % is -109.29% (calculated using TTM income statement data). CASI Pharmaceuticals earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for CASI Pharmaceuticals'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.
CASI Pharmaceuticals Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
ROC % | Get a 7-Day Free Trial |
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-119.30 | -69.13 | -52.54 | -50.95 | -80.75 |
CASI Pharmaceuticals Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
ROC % | Get a 7-Day Free Trial |
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-77.78 | -65.88 | -121.21 | -130.07 | -113.43 |
CASI Pharmaceuticals'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 ) |
= | -25.28 * ( 1 - 0.31% ) | / | ( (31.377 | + | 31.044) | / 2 ) |
= | -25.201632 | / | 31.2105 | |||
= | -80.75 % |
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 | )) |
= | 96.234 | - | 13.52 | - | ( 51.337 | - | max(0, 17.005 | - | 73.423 | + | 51.337 | )) |
= | 31.377 |
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 | )) |
= | 75.268 | - | 13.455 | - | ( 30.769 | - | max(0, 16.726 | - | 59.344 | + | 30.769 | )) |
= | 31.044 |
CASI Pharmaceuticals's annualized Return on Capital (ROC %) for the quarter that ended in Sep. 2024 is calculated as:
ROC % (Q: Sep. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Jun. 2024 ) | + | Invested Capital (Q: Sep. 2024 )) | / count ) |
= | -32.34 * ( 1 - 0% ) | / | ( (28.961 | + | 28.063) | / 2 ) |
= | -32.34 | / | 28.512 | |||
= | -113.43 % |
where
Invested Capital | (Q: Jun. 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 | )) |
= | 51.271 | - | 9.583 | - | ( 12.727 | - | max(0, 9.583 | - | 37.196 | + | 12.727 | )) |
= | 28.961 |
Invested Capital | (Q: Sep. 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 | )) |
= | 63.616 | - | 14.739 | - | ( 20.814 | - | max(0, 14.739 | - | 47.152 | + | 20.814 | )) |
= | 28.063 |
Note: The Operating Income data used here is four times the quarterly (Sep. 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.
CASI Pharmaceuticals (NAS:CASI) 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, CASI Pharmaceuticals's WACC % is 7.66%. CASI Pharmaceuticals's ROC % is -109.29% (calculated using TTM income statement data). CASI Pharmaceuticals 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 CASI Pharmaceuticals's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
James Huang | director | 9620 MEDICAL CENTER DRIVE, SUITE 300, ROCKVILLE MD 20850 |
Wei-wu He | director, 10 percent owner, officer: Chairman and CEO | ENTREMED, INC., 9640 MEDICAL CENTER DRIVE, ROCKVILLE MD 20850 |
Weihao Xu | officer: Chief Financial Officer | 9620 MEDICAL CENTER DRIVE, SUITE 300, ROCKVILLE MD 20850 |
Larry Zhang | officer: President | 9620 MEDICAL CENTER DRIVE, SUITE 300, ROCKVILLE MD 20850 |
Shrotriya Rajesh C Md | director | 157 TECHNOLOGY DRIVE, IRVINE CA 92618 |
Salisbury Franklin Cary Jr | director | 9620 MEDICAL CENTER DRIVE, SUITE 300, ROCKVILLE MD 20850 |
Yue Alexander Wu | director | C/O SORRENTO THERAPEUTICS, INC., 9380 JUDICIAL DRIVE, SAN DIEGO CA 92121 |
Wealth Strategy Holding Ltd | 10 percent owner | LEVEL 12, INTERNATIONAL COMMERCE CENTRE, 1 AUSTIN ROAD WEST, HONG KONG K3 HK |
Alexander A Zukiwski | officer: Chief Medical Officer | 200 ROUTE 31 NORTH, SUITE 104, FLEMINGTON NJ 08822 |
George Chi | officer: Chief Financial Officer | 9620 MEDICAL CENTER DRIVE, SUITE 300, ROCKVILLE MD 20850 |
Dapeng Li | 10 percent owner | BUILDING 1037,XIHU GOLF,, ZHIGANG ROAD 200, HANGZHOU, ZHEJANG F4 310008 |
Idg-accel China Growth Fund Iii L.p. | 10 percent owner | UNIT 5505, 55TH FLOOR, THE CENTER, 99 QUEEN'S ROAD K3 00000 |
Spectrum Pharmaceuticals Inc | 10 percent owner | 11500 S. EASTERN AVE., SUITE 240, HENDERSON NV 89052 |
Sparkle Byte Ltd | 10 percent owner | P.O. BOX 957, OFFSHORE INCORPORATIONS CENTRE ROAD TOWN, TORTOLA D8 00000 |
Ken Ren | director, officer: CEO and Director | 3RD FL, BOROUGH A, BLOCK A, NO. 181 SOUTH TAIBAI ROAD, XI'AN, SHAANXI PROVINCE F4 710065 |
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