Miramar Resources (ASX:M2R) ROCE % : -28.48% (As of Dec. 2023)

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What is Miramar Resources 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. Miramar Resources's annualized ROCE % for the quarter that ended in Dec. 2023 was -28.48%.

Miramar Resources ROCE % Historical Data

The historical data trend for Miramar Resources'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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Miramar Resources ROCE % Chart

Miramar Resources Annual Data

Trend

Jun21

Jun22

Jun23

ROCE %

-13.01

-16.36

-15.52

Miramar Resources Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial			-14.69	-19.66	-14.49	-16.87	-28.48

Miramar Resources ROCE % Calculation

Miramar Resources'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 )
	=	-1.379	/	( ( (9.511 - 0.542)	+	(9.098 - 0.296) )	/ 2 )
	=	-1.379	/	( (8.969	+	8.802)	/ 2 )
	=	-1.379	/	8.8855
	=	-15.52 %

Miramar Resources'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 )
	=	-2.552	/	( ( (9.098 - 0.296)	+	(9.372 - 0.252) )	/ 2 )
	=	-2.552	/	( ( 8.802	+	9.12 )	/ 2 )
	=	-2.552	/	8.961
	=	-28.48 %

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

Miramar Resources (ASX:M2R) 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.

Miramar Resources ROCE % Related Terms

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Miramar Resources (ASX:M2R) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Miramar Resources Ltd (ASX:M2R) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Unit 1, 22 Hardy Street, Perth, WA, AUS, 6151

Website

https://www.miramarresources.com.au

Miramar Resources Ltd is a mineral exploration company. The company's projects are divided into three project areas namely, the Eastern Goldfield region, Murchison region, and Gascoyne region. Its project comprises of Gidji JV Project, Glandore Project, Randall's project, Whaleshark project, Bangemall Ni-Cu-PGE project, Lang Well project, Lakeside Project, and Garden Gully project.

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