Midas Minerals (ASX:MM1) ROCE % : -97.61% (As of Jun. 2024)

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What is Midas Minerals 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. Midas Minerals's annualized ROCE % for the quarter that ended in Jun. 2024 was -97.61%.

Midas Minerals ROCE % Historical Data

The historical data trend for Midas Minerals'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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Midas Minerals ROCE % Chart

Midas Minerals Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

ROCE %

-12.18

-22.96

-79.50

Midas Minerals Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROCE %	Get a 7-Day Free Trial			-13.46	-33.37	-32.89	-100.67	-97.61

Midas Minerals ROCE % Calculation

Midas Minerals's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-5.351	/	( ( (7.66 - 0.321)	+	(6.384 - 0.261) )	/ 2 )
	=	-5.351	/	( (7.339	+	6.123)	/ 2 )
	=	-5.351	/	6.731
	=	-79.50 %

Midas Minerals's ROCE % of for the quarter that ended in Jun. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	-5.334	/	( ( (6.384 - 0.261)	+	(5.181 - 0.375) )	/ 2 )
	=	-5.334	/	( ( 6.123	+	4.806 )	/ 2 )
	=	-5.334	/	5.4645
	=	-97.61 %

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

Midas Minerals (ASX:MM1) 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.

Midas Minerals ROCE % Related Terms

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Midas Minerals Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Midas Minerals Ltd (ASX:MM1) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

8 Richardson Street, Level 2, West Perth, Perth, WA, AUS, 6005

Website

https://www.midasminerals.com

Midas Minerals Ltd is an is a junior mineral exploration company with a primary focus on lithium and gold. Its projects include the Yellowknife Lithium Project, Greenbush Lithium Project, Newington Gold, Lithium Project, Weebo Gold Project, Challa Gold, and Nickel-Copper-PGE Pro.

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