Horizon Oil (ASX:HZN) ROCE % : 17.42% (As of Dec. 2024)

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What is Horizon Oil 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. Horizon Oil's annualized ROCE % for the quarter that ended in Dec. 2024 was 17.42%.

Horizon Oil ROCE % Historical Data

The historical data trend for Horizon Oil'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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Horizon Oil ROCE % Chart

Horizon Oil Annual Data

Trend

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

ROCE %

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-25.23

6.30

30.79

41.33

25.67

Horizon Oil Semi-Annual Data
	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
ROCE %	Get a 7-Day Free Trial															36.55	47.10	36.54	17.24	17.42

Horizon Oil ROCE % Calculation

Horizon Oil's annualized ROCE % for the fiscal year that ended in Jun. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2024 )		(A: Jun. 2023 )		(A: Jun. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2024 )		(A: Jun. 2023 )		(A: Jun. 2024 )
	=	63.431	/	( ( (273.412 - 42.279)	+	(309.146 - 46.097) )	/ 2 )
	=	63.431	/	( (231.133	+	263.049)	/ 2 )
	=	63.431	/	247.091
	=	25.67 %

Horizon Oil's ROCE % of for the quarter that ended in Dec. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2024 )		(Q: Jun. 2024 )		(Q: Dec. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2024 )		(Q: Jun. 2024 )		(Q: Dec. 2024 )
	=	44.77	/	( ( (309.146 - 46.097)	+	(285.753 - 34.804) )	/ 2 )
	=	44.77	/	( ( 263.049	+	250.949 )	/ 2 )
	=	44.77	/	256.999
	=	17.42 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2024) EBIT data.

Horizon Oil (ASX:HZN) 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.

Horizon Oil ROCE % Related Terms

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Horizon Oil Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Horizon Oil Ltd (ASX:HZN) » Definitions » ROCE %

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Traded in Other Exchanges

HZNFF:USA HOJ:Germany

Address

360 Kent Street, Level 4, Sydney, NSW, AUS, 2000

Website

https://horizonoil.com.au

Horizon Oil Ltd is engaged in exploration, development, production and sale of crude oil. The company operates in three segments: China development, New Zealand development and Australia development. It generates key revenue from China development segment which is involved in developing and producing crude oil from the Block 22/12-WZ6-12, WZ12-8W and WZ12-8E oil field developments and in the exploration and evaluation of hydrocarbons within Block 22/12.