Frontline Gold (TSXV:FGC.H) ROC %: -20.96% (As of Sep. 2022)

What is Frontline Gold ROC %?

Frontline Gold TSXV:FGC.H ROC % is -20.96% as of Sep. 2022.

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Frontline Gold's annualized return on capital (ROC %) for the quarter that ended in Sep. 2022 was -20.96%.

As of today (2026-07-03), Frontline Gold's WACC % is 0.00%. Frontline Gold's ROC % is 0.00% (calculated using TTM income statement data). Frontline Gold earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Frontline Gold (TSXV:FGC.H) 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, Frontline Gold's WACC % is 0.00%. Frontline Gold's ROC % is 0.00% (calculated using TTM income statement data). Frontline Gold 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.

Frontline Gold ROC % Related Terms

Frontline Gold ROC % Historical Data

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The historical data trend for Frontline Gold'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.

Frontline Gold ROC % Chart

Frontline Gold Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

ROC %

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-14.43

-10.72

-20.83

-30.55

49.83

Frontline Gold Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
ROC %	Get a 7-Day Free Trial															-15.82	218.80	-17.07	-20.45	-20.96

Frontline Gold ROC % Calculation

Frontline Gold's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2021 is calculated as:

	ROC % (A: Dec. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2020 )	+	Invested Capital (A: Dec. 2021 ))	/ count )
=	0.377 * ( 1 - 0% )	/	( (0.597	+	0.916)	/ 2 )
=	0.377	/	0.7565
=	49.83 %

where

	Invested Capital		(A: Dec. 2020 )
=	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	))
=	1.062	-	1.979	-	( 0.614	-	max(0, 2.147	-	0.633	+	0.614	))
=	0.597

	Invested Capital		(A: Dec. 2021 )
=	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	))
=	0.741	-	1.404	-	( 0.031	-	max(0, 1.632	-	0.053	+	0.031	))
=	0.916

Frontline Gold's annualized Return on Capital (ROC %) for the quarter that ended in Sep. 2022 is calculated as:

	ROC % (Q: Sep. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Sep. 2022 ))	/ count )
=	-0.184 * ( 1 - 0% )	/	( (0.856	+	0.9)	/ 2 )
=	-0.184	/	0.878
=	-20.96 %

where

	Invested Capital		(Q: Jun. 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	))
=	0.763	-	1.273	-	( 0.02	-	max(0, 1.425	-	0.059	+	0.02	))
=	0.856

	Invested Capital		(Q: Sep. 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	))
=	0.867	-	1.435	-	( 0.016	-	max(0, 1.578	-	0.11	+	0.016	))
=	0.9

Note: The Operating Income data used here is four times the quarterly (Sep. 2022) data. The tax rate is limited to between 0% and 100%.

Frequently Asked Questions Learn more about ROC % →

What does a ROC % of -20.96% mean?

Frontline Gold (TSXV:FGC.H) has a ROC % of -20.96% as of Sep. 2022. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Frontline Gold and its competitors.

Is Frontline Gold's ROC % too high?

Frontline Gold's current ROC % is -20.96%.

How does Frontline Gold's ROC % compare to NEM?

Frontline Gold's ROC % of -20.96% 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 Frontline Gold and its competitors. Frontline Gold's current ROC % is -20.96%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Frontline Gold stock overvalued right now?

Frontline Gold (TSXV:FGC.H) has a current ROC % of -20.96%. The current ROC % is -20.96%. 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 Frontline Gold (TSXV:FGC.H), the current ROC % is -20.96% as of Sep. 2022. 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.

Frontline Gold Business Description

Industry Basic Materials Metals & Mining

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Address 372 Bay Street, Suite 301, Toronto, ON, CAN, M5H 2W9

Website https://www.frontlinegold.com

Frontline Gold Corp is a development stage company engaged in exploring mineral properties in Canada and Turkey. Some of its properties include CAMERON LAKE/FLINT LAKE, CopperLode, NE Bachelor, Portage River, Route 109, EP Worth project, and Menderes project.