ImmuneOnco Biopharmaceuticals (Shanghai) (HKSE:01541) ROC % : -146.62% (As of Dec. 2023)

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What is ImmuneOnco Biopharmaceuticals (Shanghai) 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 %. ImmuneOnco Biopharmaceuticals (Shanghai)'s annualized return on capital (ROC %) for the quarter that ended in Dec. 2023 was -146.62%.

As of today (2024-09-23), ImmuneOnco Biopharmaceuticals (Shanghai)'s WACC % is 9.59%. ImmuneOnco Biopharmaceuticals (Shanghai)'s ROC % is -141.56% (calculated using TTM income statement data). ImmuneOnco Biopharmaceuticals (Shanghai) earns returns that do not match up to its cost of capital. It will destroy value as it grows.

ImmuneOnco Biopharmaceuticals (Shanghai) ROC % Historical Data

The historical data trend for ImmuneOnco Biopharmaceuticals (Shanghai)'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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ImmuneOnco Biopharmaceuticals (Shanghai) ROC % Chart

ImmuneOnco Biopharmaceuticals (Shanghai) Annual Data

Trend

Dec21

Dec22

Dec23

ROC %

-8.12

-24.33

-149.62

ImmuneOnco Biopharmaceuticals (Shanghai) Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROC %	Get a 7-Day Free Trial			-11.72	-174.19	-138.01	-146.62	-

ImmuneOnco Biopharmaceuticals (Shanghai) ROC % Calculation

ImmuneOnco Biopharmaceuticals (Shanghai)'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 )
=	-427.284 * ( 1 - 0% )	/	( (259.109	+	312.059)	/ 2 )
=	-427.284	/	285.584
=	-149.62 %

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	))
=	938.016	-	8.728	-	( 709.351	-	max(0, 57.775	-	727.954	+	709.351	))
=	259.109

	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	))
=	956.608	-	20.229	-	( 665.634	-	max(0, 126.778	-	751.098	+	665.634	))
=	312.059

ImmuneOnco Biopharmaceuticals (Shanghai)'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-429.756 * ( 1 - 0% )	/	( (274.167	+	312.059)	/ 2 )
=	-429.756	/	293.113
=	-146.62 %

where

	Invested Capital		(Q: Jun. 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	))
=	799.416	-	6.763	-	( 589.9	-	max(0, 80.93	-	599.416	+	589.9	))
=	274.167

	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	))
=	956.608	-	20.229	-	( 665.634	-	max(0, 126.778	-	751.098	+	665.634	))
=	312.059

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

ImmuneOnco Biopharmaceuticals (Shanghai) (HKSE:01541) 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, ImmuneOnco Biopharmaceuticals (Shanghai)'s WACC % is 9.59%. ImmuneOnco Biopharmaceuticals (Shanghai)'s ROC % is -141.56% (calculated using TTM income statement data). ImmuneOnco Biopharmaceuticals (Shanghai) 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.

ImmuneOnco Biopharmaceuticals (Shanghai) ROC % Related Terms

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ImmuneOnco Biopharmaceuticals (Shanghai) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » ImmuneOnco Biopharmaceuticals (Shanghai) Inc (HKSE:01541) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1000 Zhangheng Road, Unit 15, China (Shanghai) Pilot Free Trade Zone, Pudong New Area, Shanghai, CHN

Website

http://cn.immuneonco.com

ImmuneOnco Biopharmaceuticals (Shanghai) Inc is a science-driven biotechnology company dedicated to the development of immuno-oncology therapies. It is one of the few biotechnology companies globally adopting a systematic approach to harness both the innate and adaptive immune systems. It has developed a rich pipeline of 14 drug candidates with eight ongoing clinical programs, featured by a comprehensive innate-immunity-based asset portfolio. Its pipeline reflects its extensive understanding of the frontiers of cancer biology and immunology and its expertise in turning scientific research into drug candidates.

Executives

Gba Fund Investment Limited	2101 Beneficial owner
Jia Xing Han Ning Qi Ye Guan Li You Xian Gong Si	2201 Interest of corporation controlled by you
Halo Biomedical Lp	2201 Interest of corporation controlled by you
Halo Biomedical Investment Ii Limited	2101 Beneficial owner
Halo Biomedical Investment I Limited	2201 Interest of corporation controlled by you
Tian Wenzhi	2501 Other
Lav Immon Hong Kong Limited	2101 Beneficial owner
Greater Bay Area Homeland Investments Limited	2201 Interest of corporation controlled by you
Greater Bay Area Homeland Development Fund (gp) Limited	2201 Interest of corporation controlled by you
Ho Yao
Lav Immuneonco Hong Kong Limited	2101 Beneficial owner
Lav Gp V, L.p.	2201 Interest of corporation controlled by you
Lav Corporate V Gp, Ltd.	2201 Interest of corporation controlled by you
Lav Biosciences Fund V, L.p.	2201 Interest of corporation controlled by you
Shi Yi	2201 Interest of corporation controlled by you

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