Bati Ege Gayrimenkul Yatirim Ortakligi AS (IST:BEGYO) ROC % : 4.57% (As of Sep. 2023)

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What is Bati Ege Gayrimenkul Yatirim Ortakligi AS 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 %. Bati Ege Gayrimenkul Yatirim Ortakligi AS's annualized return on capital (ROC %) for the quarter that ended in Sep. 2023 was 4.57%.

As of today (2024-05-26), Bati Ege Gayrimenkul Yatirim Ortakligi AS's WACC % is 11.47%. Bati Ege Gayrimenkul Yatirim Ortakligi AS's ROC % is 1.47% (calculated using TTM income statement data). Bati Ege Gayrimenkul Yatirim Ortakligi AS earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Bati Ege Gayrimenkul Yatirim Ortakligi AS ROC % Historical Data

The historical data trend for Bati Ege Gayrimenkul Yatirim Ortakligi AS'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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Bati Ege Gayrimenkul Yatirim Ortakligi AS ROC % Chart

Bati Ege Gayrimenkul Yatirim Ortakligi AS Annual Data

Trend

Dec20

Dec21

Dec22

ROC %

1.35

1.76

3.23

Bati Ege Gayrimenkul Yatirim Ortakligi AS Quarterly Data
	Dec20	Dec21	Jun22	Sep22	Dec22	Jun23	Sep23
ROC %	Get a 7-Day Free Trial			-	-	2.44	-	4.57

Bati Ege Gayrimenkul Yatirim Ortakligi AS ROC % Calculation

Bati Ege Gayrimenkul Yatirim Ortakligi AS's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2022 is calculated as:

	ROC % (A: Dec. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2021 )	+	Invested Capital (A: Dec. 2022 ))	/ count )
=	64.451 * ( 1 - 27.94% )	/	( (1100.258	+	1777.302)	/ 2 )
=	46.4433906	/	1438.78
=	3.23 %

where

	Invested Capital		(A: Dec. 2021 )
=	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	))
=	1015.191	-	732.215	-	( 3.544	-	max(0, 885.939	-	68.657	+	3.544	))
=	1100.258

	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	))
=	1584.365	-	439.533	-	( 3.884	-	max(0, 704.927	-	72.457	+	3.884	))
=	1777.302

Bati Ege Gayrimenkul Yatirim Ortakligi AS's annualized Return on Capital (ROC %) for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	79.144 * ( 1 - -42.7% )	/	( (2366.707	+	2570.74)	/ 2 )
=	112.938488	/	2468.7235
=	4.57 %

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	))
=	2204.329	-	10.542	-	( 10.776	-	max(0, 401.545	-	228.625	+	10.776	))
=	2366.707

	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	))
=	2391.207	-	219.965	-	( 23.969	-	max(0, 661.363	-	261.865	+	23.969	))
=	2570.74

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

Bati Ege Gayrimenkul Yatirim Ortakligi AS (IST:BEGYO) 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, Bati Ege Gayrimenkul Yatirim Ortakligi AS's WACC % is 11.47%. Bati Ege Gayrimenkul Yatirim Ortakligi AS's ROC % is 1.47% (calculated using TTM income statement data). Bati Ege Gayrimenkul Yatirim Ortakligi AS 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.

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Bati Ege Gayrimenkul Yatirim Ortakligi AS (IST:BEGYO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Bati Ege Gayrimenkul Yatirim Ortakligi AS (IST:BEGYO) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Kayalar Mah. 6030, St. Sinpa? AquaCity F1, Blok No.3/13, Ic Kapi No:19 Merkezefendi district, Denizli, TUR

Website

https://batiegegyo.com.tr

Bati Ege Gayrimenkul Yatirim Ortakligi AS is an investment company established to develop new investments in the real estate sector in Denizli and the entire Aegean Region. It has portfolio of projects which are Aquacity Denizli & Aquamall AVM.

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