Emirates Driving Co PJSC (ADX:DRIVE) ROCE % : 25.54% (As of Sep. 2023)

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What is Emirates Driving Co PJSC ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Emirates Driving Co PJSC's annualized ROCE % for the quarter that ended in Sep. 2023 was 25.54%.

Emirates Driving Co PJSC ROCE % Historical Data

The historical data trend for Emirates Driving Co PJSC's ROCE % 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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Emirates Driving Co PJSC ROCE % Chart

Emirates Driving Co PJSC Annual Data

Trend

Dec12

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

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14.17

15.12

17.29

21.10

27.43

Emirates Driving Co PJSC Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
ROCE %	Get a 7-Day Free Trial															28.23	27.25	25.47	24.24	25.54

Emirates Driving Co PJSC ROCE % Calculation

Emirates Driving Co PJSC's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	256.357	/	( ( (911.649 - 60.439)	+	(1091.364 - 73.451) )	/ 2 )
	=	256.357	/	( (851.21	+	1017.913)	/ 2 )
	=	256.357	/	934.5615
	=	27.43 %

Emirates Driving Co PJSC's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	277.912	/	( ( (1104.891 - 53.415)	+	(1180.952 - 56.438) )	/ 2 )
	=	277.912	/	( ( 1051.476	+	1124.514 )	/ 2 )
	=	277.912	/	1087.995
	=	25.54 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2023) EBIT data.

Emirates Driving Co PJSC (ADX:DRIVE) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Emirates Driving Co PJSC ROCE % Related Terms

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Emirates Driving Co PJSC (ADX:DRIVE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Emirates Driving Co PJSC (ADX:DRIVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Street no. 17 Mussaffah Industrial Area, Abu Dhabi, ARE

Website

https://www.edcad.ae

Emirates Driving Co PJSC is the driver's training and road safety institute in Abu Dhabi. The company and its subsidiaries are engaged in the management and development of motor vehicle driving training and services. The company offers these services to the national and expatriates living in the country. The firm generates its revenue from training and testing services.

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