Maps SpA (MIL:MAPS) ROC % : 4.73% (As of Jun. 2024)

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What is Maps SpA 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 %. Maps SpA's annualized return on capital (ROC %) for the quarter that ended in Jun. 2024 was 4.73%.

As of today (2025-03-23), Maps SpA's WACC % is 6.16%. Maps SpA's ROC % is 3.33% (calculated using TTM income statement data). Maps SpA earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Maps SpA ROC % Historical Data

The historical data trend for Maps SpA'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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Maps SpA ROC % Chart

Maps SpA Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC %

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10.94

4.11

-2.10

8.73

2.43

Maps SpA Semi-Annual Data
	Dec16	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROC %	Get a 7-Day Free Trial										11.10	7.28	22.58	1.75	4.73

Maps SpA ROC % Calculation

Maps SpA'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 )
=	1.074 * ( 1 - 5.32% )	/	( (41.565	+	42.19)	/ 2 )
=	1.0168632	/	41.8775
=	2.43 %

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	))
=	56.035	-	6.6	-	( 7.87	-	max(0, 13.283	-	28.799	+	7.87	))
=	41.565

	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	))
=	54.729	-	6.639	-	( 5.9	-	max(0, 12.93	-	26.665	+	5.9	))
=	42.19

Maps SpA's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2024 is calculated as:

	ROC % (Q: Jun. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Jun. 2024 ))	/ count )
=	3.362 * ( 1 - 41.42% )	/	( (42.19	+	41.067)	/ 2 )
=	1.9694596	/	41.6285
=	4.73 %

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	))
=	54.729	-	6.639	-	( 5.9	-	max(0, 12.93	-	26.665	+	5.9	))
=	42.19

	Invested Capital		(Q: Jun. 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	))
=	55.924	-	7.065	-	( 7.792	-	max(0, 15.127	-	28.064	+	7.792	))
=	41.067

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

Maps SpA (MIL:MAPS) 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, Maps SpA's WACC % is 6.16%. Maps SpA's ROC % is 3.33% (calculated using TTM income statement data). Maps SpA 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.

Maps SpA ROC % Related Terms

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Maps SpA Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Via Paradigna 38/A, Parma, ITA, 43122

Website

https://www.mapsgroup.it

Maps SpA is a software solution provider. It designs and develops software solutions that improve service quality, increase operational efficiency, and help customers improve their decision-making. The company predominantly caters to its customers in the Healthcare, Energy, and ESG sectors. Its Healthcare Business Unit develops solutions related to patient experience and telemedicine, data-driven governance platforms, applications for the digitization of diagnostic service workflows, radiology, laboratory tests, and others. The Energy business unit supports the changes taking place for the energy transition, and its ESG Business Unit commercializes solutions that measure the achievement of corporate and employee goals, manage risks, and report on non-financial performance.