First Tracks Biotherapeutics (HAM:B43) ROC %: -325.84% (As of Dec. 2024)


HAM:B43 First Tracks Biotherapeutics Inc HAM:B43
20 GF Score
Price €32.00
! 3 Warning Signs
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What is First Tracks Biotherapeutics ROC %?

First Tracks Biotherapeutics HAM:B43 +29.29% 20 ROC % is -325.84% as of Dec. 2024. GuruFocus rates HAM:B43 with a GF Score™ of 20/100. The stock has 3 warning signs investors should review.

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. First Tracks Biotherapeutics's annualized return on capital (ROC %) for the quarter that ended in Dec. 2024 was -325.84%.

As of today (2026-07-13), First Tracks Biotherapeutics's WACC % is 10.42%. First Tracks Biotherapeutics's ROC % is -319.89% (calculated using TTM income statement data). First Tracks Biotherapeutics earns returns that do not match up to its cost of capital. It will destroy value as it grows.

First Tracks Biotherapeutics  (HAM:B43) 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, First Tracks Biotherapeutics's WACC % is 10.42%. First Tracks Biotherapeutics's ROC % is -319.89% (calculated using TTM income statement data). First Tracks Biotherapeutics 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.

First Tracks Biotherapeutics ROC % Related Terms

First Tracks Biotherapeutics ROC % Historical Data

* Premium members only.

The historical data trend for First Tracks Biotherapeutics'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.

First Tracks Biotherapeutics ROC % Chart

First Tracks Biotherapeutics Annual Data
Trend Dec23 Dec24
ROC %
-228.15 -325.84

First Tracks Biotherapeutics Semi-Annual Data
Dec23 Dec24
ROC % -228.15 -325.84
HAM:B43
20GF Score
First Tracks Biotherapeutics Inc HAM:B43
ROC % is just one metric. See GF Score™, valuation, warning signs, and more.
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First Tracks Biotherapeutics ROC % Calculation

First Tracks Biotherapeutics's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2024 is calculated as:

ROC % (A: Dec. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (A: Dec. 2023 ) + Invested Capital (A: Dec. 2024 ))/ count )
=-172.951 * ( 1 - 0% )/( (47.614 + 58.544)/ 2 )
=-172.951/53.079
=-325.84 %

where

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))
=407.248 - 10.869 - ( 358.459 - max(0, 16.71 - 365.475+358.459))
=47.614

Invested Capital(A: Dec. 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))
=422.006 - 25.631 - ( 368.031 - max(0, 34.555 - 372.386+368.031))
=58.544

First Tracks Biotherapeutics's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2024 is calculated as:

ROC % (Q: Dec. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Dec. 2024 ))/ count )
=-172.951 * ( 1 - 0% )/( (47.614 + 58.544)/ 2 )
=-172.951/53.079
=-325.84 %

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))
=407.248 - 10.869 - ( 358.459 - max(0, 16.71 - 365.475+358.459))
=47.614

Invested Capital(Q: Dec. 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))
=422.006 - 25.631 - ( 368.031 - max(0, 34.555 - 372.386+368.031))
=58.544

Note: The Operating Income data used here is one times the annual (Dec. 2024) data. The tax rate is limited to between 0% and 100%.

* 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.

Frequently Asked Questions Learn more about ROC % →
What does a ROC % of -325.84% mean?
First Tracks Biotherapeutics (HAM:B43) has a ROC % of -325.84% as of Dec. 2024. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on First Tracks Biotherapeutics and its competitors.
Is First Tracks Biotherapeutics' ROC % too high?
First Tracks Biotherapeutics' current ROC % is -325.84%. Overall, First Tracks Biotherapeutics has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does First Tracks Biotherapeutics' ROC % compare to ALT and RGNX?
First Tracks Biotherapeutics' ROC % of -325.84% can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC % for a Biotechnology company?
A good ROC % depends on the Biotechnology industry context. However, ROC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC % mean?
A high ROC % can signal that a stock is expensive relative to its fundamentals. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on First Tracks Biotherapeutics and its competitors. First Tracks Biotherapeutics's current ROC % is -325.84%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Tracks Biotherapeutics stock overvalued right now?
First Tracks Biotherapeutics (HAM:B43) has a current ROC % of -325.84%. The current ROC % is -325.84%. First Tracks Biotherapeutics' overall GF Score™ is 20/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC % calculated?
ROC % is calculated from a company's financial statements. For First Tracks Biotherapeutics (HAM:B43), the current ROC % is -325.84% as of Dec. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

First Tracks Biotherapeutics Business Description

Other Exchanges TRAX:USA
Address 10770 Wateridge Circle, Suite 210, San Diego, CA, USA, 92121
First Tracks Biotherapeutics Inc is a clinical-stage biotechnology company focused on delivering immunology therapeutics for autoimmune and inflammatory diseases. Its clinical-stage pipeline includes rosnilimab, a selective pathogenic T cell depleter, for which it completed a Phase 2b trial for the treatment of moderate-to-severe rheumatoid arthritis (RA), ANB033, a CD122 antagonist, in a Phase 1b trial for celiac disease (CeD) and eosinophilic esophagitis (EoE), and ANB101, a BDCA2 modulator, in a Phase 1a trial. The company operates in one reportable segment focused on research and development activities to deliver immunology therapeutics for autoimmune and inflammatory diseases.
20GF Score

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