Goodman Group (ASX:GMG) ROCE % : 2.69% (As of Dec. 2023)

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What is Goodman Group 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. Goodman Group's annualized ROCE % for the quarter that ended in Dec. 2023 was 2.69%.

Goodman Group ROCE % Historical Data

The historical data trend for Goodman Group'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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Goodman Group ROCE % Chart

Goodman Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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13.89

11.85

15.93

22.07

9.33

Goodman Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															27.23	17.39	12.48	6.19	2.69

Goodman Group ROCE % Calculation

Goodman Group's annualized ROCE % for the fiscal year that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	1999.8	/	( ( (21432.4 - 1296.1)	+	(24027.2 - 1311.3) )	/ 2 )
	=	1999.8	/	( (20136.3	+	22715.9)	/ 2 )
	=	1999.8	/	21426.1
	=	9.33 %

Goodman Group's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	370.8	/	( ( (24027.2 - 1311.3)	+	(5343.5 - 529.1) )	/ 2 )
	=	370.8	/	( ( 22715.9	+	4814.4 )	/ 2 )
	=	370.8	/	13765.15
	=	2.69 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Goodman Group (ASX:GMG) 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.

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Goodman Group (ASX:GMG) Business Description

Industry

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GMGSF:USA

Address

1-11 Hayes Road, The Hayesbery, Rosebery, Sydney, NSW, AUS, 2018

Website

https://www.goodman.com

Goodman Group develops and manages industrial property investments worldwide. Rather than taking all risks on its own balance sheet, most Goodman developments are on behalf of end-user tenants, and funds management clients. A typical deal involves purchasing land for a tenant who wants to occupy the site, and/or an investor who will own the asset via a Goodman investment vehicle. Goodman charges leasing fees for locking in tenants, and fees for managing the development. Completed projects reside in Goodman investment vehicles, and Goodman charges asset and investment management fees to investors, in return for collecting rent and managing the site. Goodman retains a minority stake in many projects, generating rental income and aligning its interests with its funds management clients.

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