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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 %. MIND Technology's annualized return on capital (ROC %) for the quarter that ended in Oct. 2024 was 21.25%.
As of today (2025-03-15), MIND Technology's WACC % is 5.57%. MIND Technology's ROC % is 18.27% (calculated using TTM income statement data). MIND Technology 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.
The historical data trend for MIND Technology'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.
MIND Technology Annual Data | |||||||||||||||||||||
Trend | Jan15 | Jan16 | Jan17 | Jan18 | Jan19 | Jan20 | Jan21 | Jan22 | Jan23 | Jan24 | |||||||||||
ROC % | Get a 7-Day Free Trial |
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-11.12 | -29.34 | -46.07 | -21.63 | -9.47 |
MIND Technology Quarterly Data | ||||||||||||||||||||
Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | Apr24 | Jul24 | Oct24 | |
ROC % | Get a 7-Day Free Trial |
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-28.51 | 30.52 | 9.65 | 11.84 | 21.25 |
MIND Technology's annualized Return on Capital (ROC %) for the fiscal year that ended in Jan. 2024 is calculated as:
ROC % (A: Jan. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Jan. 2023 ) | + | Invested Capital (A: Jan. 2024 )) | / count ) |
= | 0.518 * ( 1 - 562.18% ) | / | ( (27.403 | + | 23.158) | / 2 ) |
= | -2.3940924 | / | 25.2805 | |||
= | -9.47 % |
where
Invested Capital | (A: Jan. 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 | )) |
= | 32.858 | - | 4.677 | - | ( 0.778 | - | max(0, 8.931 | - | 22.234 | + | 0.778 | )) |
= | 27.403 |
Invested Capital | (A: Jan. 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 | )) |
= | 33.491 | - | 5.044 | - | ( 5.289 | - | max(0, 10.277 | - | 28.339 | + | 5.289 | )) |
= | 23.158 |
MIND Technology's annualized Return on Capital (ROC %) for the quarter that ended in Oct. 2024 is calculated as:
ROC % (Q: Oct. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Jul. 2024 ) | + | Invested Capital (Q: Oct. 2024 )) | / count ) |
= | 7.504 * ( 1 - 23.47% ) | / | ( (27.469 | + | 26.588) | / 2 ) |
= | 5.7428112 | / | 27.0285 | |||
= | 21.25 % |
where
Invested Capital | (Q: Jul. 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 | )) |
= | 37.836 | - | 8.463 | - | ( 1.904 | - | max(0, 12.364 | - | 32.634 | + | 1.904 | )) |
= | 27.469 |
Invested Capital | (Q: Oct. 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 | )) |
= | 36.107 | - | 6.014 | - | ( 3.505 | - | max(0, 10.034 | - | 31.264 | + | 3.505 | )) |
= | 26.588 |
Note: The Operating Income data used here is four times the quarterly (Oct. 2024) 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.
MIND Technology (NAS:MIND) 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, MIND Technology's WACC % is 5.57%. MIND Technology's ROC % is 18.27% (calculated using TTM income statement data). MIND Technology 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.
Thank you for viewing the detailed overview of MIND Technology's ROC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Peter H Blum | director | 999 18TH STREET, STE 1700, DENVER CO 80202 |
Alan Perry Baden | director | 2635 SUTTON COURT, HOUSTON TX 77027 |
Nancy Jean Harned | director | 2704 CHESTER FOREST COURT, VIRGINIA BEACH VA 23452 |
Thomas S Glanville | director | 2818 N SULLIVAN ROAD, SPOLANE WA 99216 |
Mark Alan Cox | officer: Principal Accounting Officer | 1301 MCKINNEY STREET, SUITE 1800, HOUSTON TX 77010 |
Guy Malden | officer: Co-CEO and EVP | P O BOX 1175, HUNTSVILLE TX 77342 |
Marcus C Rowland | director | 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024 |
Robert John Albers | director | 2171 LOMA LINDA DRIVE, PAGOSA SPRINGS CO 81147 |
Robert P Capps | director, officer: Co-CEO and CFO | |
Dennis Patrick Morris | officer: Chief Operating Officer | 7026 TEAL LOOP, GIG HARBOR WA 98335 |
William Hunter Hilarides | director | 10710 OX CROFT CT., FAIRFAX STATION VA 22039 |
Midwood Capital Management Llc | 10 percent owner | 575 BOYLSON ST., 4TH FLOOR, BOSTON MA 02116 |
Paul Guy Rogers | officer: VP - Business Development | |
John F Schwalbe | director | |
R Dean Lewis | director |
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