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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 %. PJSC Mining & Metallurgical Co Norilsk Nickel's annualized return on capital (ROC %) for the quarter that ended in Dec. 2023 was 24.14%.
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, PJSC Mining & Metallurgical Co Norilsk Nickel's WACC % is 0.00%. PJSC Mining & Metallurgical Co Norilsk Nickel's ROC % is 0.00% (calculated using TTM income statement data).
PJSC Mining & Metallurgical Co Norilsk Nickel 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.
PJSC Mining & Metallurgical Co Norilsk Nickel ROC % Related Terms
PJSC Mining & Metallurgical Co Norilsk Nickel ROC % Historical 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.
PJSC Mining & Metallurgical Co Norilsk Nickel ROC % Chart
PJSC Mining & Metallurgical Co Norilsk Nickel Annual Data
Note:
The Operating Income data used here is two times the semi-annual (Dec. 2023) 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.
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a ROC % of 24.14% as of Dec. 2023. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors.
Is PJSC Mining & Metallurgical Co Norilsk Nickel's ROC % too high?
PJSC Mining & Metallurgical Co Norilsk Nickel's current ROC % is 24.14%. Overall, PJSC Mining & Metallurgical Co Norilsk Nickel has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does PJSC Mining & Metallurgical Co Norilsk Nickel's ROC % compare to competitors?
PJSC Mining & Metallurgical Co Norilsk Nickel's ROC % of 24.14% can be compared against companies in the Metals & Mining 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 Metals & Mining company?
A good ROC % depends on the Metals & Mining 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 PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors. PJSC Mining & Metallurgical Co Norilsk Nickel's current ROC % is 24.14%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PJSC Mining & Metallurgical Co Norilsk Nickel stock overvalued right now?
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a current ROC % of 24.14%. The current ROC % is 24.14%. PJSC Mining & Metallurgical Co Norilsk Nickel's overall GF Score™ is 17/100. 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 PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN), the current ROC % is 24.14% as of Dec. 2023. 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.
PJSC Mining & Metallurgical Co Norilsk Nickel Business Description
PJSC Mining & Metallurgical Co Norilsk Nickel is a metal and mining company engaged in activities such as exploration, extraction, refining of ore and nonmetallic minerals, and sale of base and precious minerals. The company is organized into seven operating business segments: GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, other mining, and other nonmetallurgical. The majority of the company's revenue is derived from the GMK Group segment which includes mining, processing and other metallurgy operations, and sale of precious metals. More than half the company's consolidated revenue is earned from the sale of metals to customers in Europe.
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