Aspen (Group) Holdings (SGX:1F3) ROC % : 22.71% (As of Dec. 2024)

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What is Aspen (Group) Holdings 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 %. Aspen (Group) Holdings's annualized return on capital (ROC %) for the quarter that ended in Dec. 2024 was 22.71%.

As of today (2025-03-22), Aspen (Group) Holdings's WACC % is 10.64%. Aspen (Group) Holdings's ROC % is 8.62% (calculated using TTM income statement data). Aspen (Group) Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Aspen (Group) Holdings ROC % Historical Data

The historical data trend for Aspen (Group) Holdings'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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Aspen (Group) Holdings ROC % Chart

Aspen (Group) Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Jun23

Jun24

ROC %

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10.14

3.20

1.97

-1.32

-1.66

Aspen (Group) Holdings Semi-Annual Data
	Dec14	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
ROC %	Get a 7-Day Free Trial														1.76	-6.56	-0.28	-5.26	22.71

Aspen (Group) Holdings ROC % Calculation

Aspen (Group) Holdings's annualized Return on Capital (ROC %) for the fiscal year that ended in Jun. 2024 is calculated as:

	ROC % (A: Jun. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Jun. 2023 )	+	Invested Capital (A: Jun. 2024 ))	/ count )
=	-3.558 * ( 1 - -2.99% )	/	( (243.093	+	198.098)	/ 2 )
=	-3.6643842	/	220.5955
=	-1.66 %

where

	Invested Capital		(A: 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	))
=	314.445	-	73.536	-	( 8.428	-	max(0, 164.434	-	162.25	+	8.428	))
=	243.093

	Invested Capital		(A: 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	))
=	282.373	-	87.69	-	( 8.726	-	max(0, 136.515	-	133.1	+	8.726	))
=	198.098

Aspen (Group) Holdings's annualized Return on Capital (ROC %) for the quarter that ended in Dec. 2024 is calculated as:

	ROC % (Q: Dec. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2024 )	+	Invested Capital (Q: Dec. 2024 ))	/ count )
=	44.326 * ( 1 - 0.93% )	/	( (198.098	+	188.611)	/ 2 )
=	43.9137682	/	193.3545
=	22.71 %

where

	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	))
=	282.373	-	87.69	-	( 8.726	-	max(0, 136.515	-	133.1	+	8.726	))
=	198.098

	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	))
=	307.589	-	104.646	-	( 14.332	-	max(0, 130.853	-	151.264	+	14.332	))
=	188.611

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

Aspen (Group) Holdings (SGX:1F3) 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, Aspen (Group) Holdings's WACC % is 10.64%. Aspen (Group) Holdings's ROC % is 8.62% (calculated using TTM income statement data). Aspen (Group) Holdings 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.

Aspen (Group) Holdings ROC % Related Terms

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Aspen (Group) Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Aspen (Group) Holdings Ltd (SGX:1F3) » Definitions » ROC %

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Traded in Other Exchanges

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Address

300, Jalan Macalister, Aspen House, George Town, PNG, MYS, 10450

Website

https://www.aspen.com.my

Aspen (Group) Holdings Ltd is a property development group. It focuses on developing affordable residential and mixed-development properties at strategic locations with quality infrastructure and amenities, which target middle-income mass market purchasers. It operates through the below segments: Property development which includes development of residential and commercial properties and others which includes sales of food and beverages and investment holdings. Substantial portion of the company's overall revenue is generated from its Property development segment.

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