Billboard Ad Or (XBUL:BBRD) ROC % : 8.08% (As of Jun. 2024)

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What is Billboard Ad Or 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 %. Billboard Ad Or's annualized return on capital (ROC %) for the quarter that ended in Jun. 2024 was 8.08%.

As of today (2024-12-13), Billboard Ad Or's WACC % is 6.59%. Billboard Ad Or's ROC % is 7.56% (calculated using TTM income statement data). Billboard Ad Or 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.

Billboard Ad Or ROC % Historical Data

The historical data trend for Billboard Ad Or'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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Billboard Ad Or ROC % Chart

Billboard Ad Or Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC %

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4.38

3.06

2.55

5.21

5.63

Billboard Ad Or Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
ROC %	Get a 7-Day Free Trial															5.31	5.04	8.27	8.70	8.08

Billboard Ad Or ROC % Calculation

Billboard Ad Or'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 )
=	2.221 * ( 1 - 10.27% )	/	( (34.66	+	36.096)	/ 2 )
=	1.9929033	/	35.378
=	5.63 %

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	))
=	40.087	-	5.869	-	( 0.713	-	max(0, 9.728	-	9.286	+	0.713	))
=	34.66

	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	))
=	41.981	-	5.377	-	( 2.713	-	max(0, 9.886	-	10.394	+	2.713	))
=	36.096

Billboard Ad Or'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: Mar. 2024 )	+	Invested Capital (Q: Jun. 2024 ))	/ count )
=	2.924 * ( 1 - 0% )	/	( (36.279	+	36.127)	/ 2 )
=	2.924	/	36.203
=	8.08 %

where

	Invested Capital		(Q: Mar. 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	))
=	42.646	-	5.991	-	( 2.576	-	max(0, 10.443	-	10.819	+	2.576	))
=	36.279

	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	))
=	42.976	-	6.077	-	( 2.522	-	max(0, 10.548	-	11.32	+	2.522	))
=	36.127

Note: The Operating Income data used here is four times the quarterly (Jun. 2024) data.

Billboard Ad Or (XBUL:BBRD) 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, Billboard Ad Or's WACC % is 6.59%. Billboard Ad Or's ROC % is 7.56% (calculated using TTM income statement data). Billboard Ad Or 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.

Billboard Ad Or ROC % Related Terms

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Billboard Ad Or Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Billboard Ad Or (XBUL:BBRD) » Definitions » ROC %

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Address

No. 1 Bulgaria Square, National Palace of Culture, Low-Rise Building, Floor 2, Triaditza district, Sofia, BGR, 1463

Website

https://www.bilbord.bg

Billboard Ad Or is a Bulgaria based digital and offset printing company. It provides various solutions which include Digital printing solutions for billboards, packaging of buildings, branding of cars and photorealistic art galleries; Offset printing solutions for calendars, magazines and corporate periodicals and newsletters; Metro advertisement solutions covering transport advertising, advertising at the point of sale and advertising in urban environments and 3D printing solutions for making 3D models in the field of art, industrial design and architecture. Geographically, it has operations in France, Germany, Romania, and other countries; and generates a vast majority of its revenue from France.

Billboard Ad Or Headlines

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