THS Maple Holdings (TSXV:YAY) ROC % : -10.92% (As of Nov. 2023)

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What is THS Maple 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 %. THS Maple Holdings's annualized return on capital (ROC %) for the quarter that ended in Nov. 2023 was -10.92%.

As of today (2024-12-12), THS Maple Holdings's WACC % is 10.80%. THS Maple Holdings's ROC % is -10.92% (calculated using TTM income statement data). THS Maple Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

THS Maple Holdings ROC % Historical Data

The historical data trend for THS Maple 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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THS Maple Holdings ROC % Chart

THS Maple Holdings Annual Data

Trend

Nov21

Nov22

ROC %

-16.14

THS Maple Holdings Semi-Annual Data
	Nov21	Nov22	Nov23
ROC %	-	-16.14	-10.92

THS Maple Holdings ROC % Calculation

THS Maple Holdings's annualized Return on Capital (ROC %) for the fiscal year that ended in Nov. 2022 is calculated as:

	ROC % (A: Nov. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Nov. 2021 )	+	Invested Capital (A: Nov. 2022 ))	/ count )
=	-0.825 * ( 1 - 0% )	/	( (5.191	+	5.029)	/ 2 )
=	-0.825	/	5.11
=	-16.14 %

where

	Invested Capital		(A: Nov. 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	))
=	5.663	-	0.358	-	( 0.114	-	max(0, 2.428	-	3.229	+	0.114	))
=	5.191

	Invested Capital		(A: Nov. 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	))
=	5.691	-	1.012	-	( 0.038	-	max(0, 3.881	-	3.531	+	0.038	))
=	5.029

THS Maple Holdings's annualized Return on Capital (ROC %) for the quarter that ended in Nov. 2023 is calculated as:

	ROC % (Q: Nov. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Nov. 2022 )	+	Invested Capital (Q: Nov. 2023 ))	/ count )
=	-0.762 * ( 1 - 0% )	/	( (5.029	+	8.933)	/ 2 )
=	-0.762	/	6.981
=	-10.92 %

where

	Invested Capital		(Q: Nov. 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	))
=	5.691	-	1.012	-	( 0.038	-	max(0, 3.881	-	3.531	+	0.038	))
=	5.029

	Invested Capital		(Q: Nov. 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	))
=	6.816	-	2.121	-	( 0.081	-	max(0, 9.268	-	5.03	+	0.081	))
=	8.933

Note: The Operating Income data used here is one times the annual (Nov. 2023) data.

THS Maple Holdings (TSXV:YAY) 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, THS Maple Holdings's WACC % is 10.80%. THS Maple Holdings's ROC % is -10.92% (calculated using TTM income statement data). THS Maple 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.

THS Maple Holdings ROC % Related Terms

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THS Maple Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » THS Maple Holdings Ltd (TSXV:YAY) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

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Address

94 Riverwood Parkway, Toronto, ON, CAN, M8Y 4E9

Website

https://www.turkeyhill.ca

THS Maple Holdings Ltd supplies bottles, packages, and markets high-quality maple syrup and maple syrup products. Geographically the company generates the majority of its revenue from Canada.

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