Barrick Mining (MEX:BN) ROC % : 8.64% (As of Mar. 2025)

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What is Barrick Mining 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 %. Barrick Mining's annualized return on capital (ROC %) for the quarter that ended in Mar. 2025 was 8.64%.

As of today (2025-07-04), Barrick Mining's WACC % is 6.64%. Barrick Mining's ROC % is 7.84% (calculated using TTM income statement data). Barrick Mining generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.

Barrick Mining ROC % Historical Data

The historical data trend for Barrick Mining'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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Barrick Mining ROC % Chart

Barrick Mining Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

ROC %

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8.56

7.89

4.53

4.62

7.59

Barrick Mining Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
ROC %	Get a 7-Day Free Trial															5.02	6.74	8.57	8.32	8.64

Barrick Mining ROC % Calculation

Barrick Mining'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 )
=	87260.249 * ( 1 - 32.99% )	/	( (676542.602	+	863300.845)	/ 2 )
=	58473.0928549	/	769921.7235
=	7.59 %

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	))
=	777607.275	-	30655.492	-	( 70409.181	-	max(0, 39991.328	-	126254.457	+	70409.181	))
=	676542.602

	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	))
=	993273.568	-	45006.601	-	( 84966.122	-	max(0, 55100.759	-	159170.702	+	84966.122	))
=	863300.845

Barrick Mining's annualized Return on Capital (ROC %) for the quarter that ended in Mar. 2025 is calculated as:

	ROC % (Q: Mar. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2024 )	+	Invested Capital (Q: Mar. 2025 ))	/ count )
=	100654.344 * ( 1 - 26.25% )	/	( (863300.845	+	855336.884)	/ 2 )
=	74232.5787	/	859318.8645
=	8.64 %

where

	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	))
=	993273.568	-	45006.601	-	( 84966.122	-	max(0, 55100.759	-	159170.702	+	84966.122	))
=	863300.845

	Invested Capital		(Q: Mar. 2025 )
=	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	))
=	984898.665	-	45601.328	-	( 83960.453	-	max(0, 57017.003	-	163706.517	+	83960.453	))
=	855336.884

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

Barrick Mining (MEX:BN) 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, Barrick Mining's WACC % is 6.64%. Barrick Mining's ROC % is 7.84% (calculated using TTM income statement data). Barrick Mining generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.

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.

Barrick Mining ROC % Related Terms

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Barrick Mining Business Description

Industry

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Address

161 Bay Street, Brookfield Place, TD Canada Trust Tower, Suite 3700, P.O. Box 212, Toronto, ON, CAN, M5J 2S1

Website

https://www.barrick.com

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2024, the firm produced nearly 3.9 million attributable ounces of gold and about 430 million pounds of copper. At year-end 2024, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.