Penrice Soda Holdings (ASX:PSH) ROCE % : -31.58% (As of Dec. 2013)

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What is Penrice Soda Holdings 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. Penrice Soda Holdings's annualized ROCE % for the quarter that ended in Dec. 2013 was -31.58%.

Penrice Soda Holdings ROCE % Historical Data

The historical data trend for Penrice Soda Holdings'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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Penrice Soda Holdings ROCE % Chart

Penrice Soda Holdings Annual Data

Trend

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

ROCE %

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11.71

9.67

-15.18

-40.99

-49.28

Penrice Soda Holdings Semi-Annual Data
	Dec05	Jun06	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13
ROCE %	Get a 7-Day Free Trial												-37.74	-45.03	-55.45	-50.19	-31.58

Penrice Soda Holdings ROCE % Calculation

Penrice Soda Holdings's annualized ROCE % for the fiscal year that ended in Jun. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2013 )		(A: Jun. 2012 )		(A: Jun. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2013 )		(A: Jun. 2012 )		(A: Jun. 2013 )
	=	-39.67	/	( ( (139.487 - 44.106)	+	(117.648 - 52.025) )	/ 2 )
	=	-39.67	/	( (95.381	+	65.623)	/ 2 )
	=	-39.67	/	80.502
	=	-49.28 %

Penrice Soda Holdings's ROCE % of for the quarter that ended in Dec. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2013 )		(Q: Jun. 2013 )		(Q: Dec. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2013 )		(Q: Jun. 2013 )		(Q: Dec. 2013 )
	=	-14.928	/	( ( (117.648 - 52.025)	+	(110.019 - 81.116) )	/ 2 )
	=	-14.928	/	( ( 65.623	+	28.903 )	/ 2 )
	=	-14.928	/	47.263
	=	-31.58 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2013) EBIT data.

Penrice Soda Holdings (ASX:PSH) 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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Penrice Soda Holdings (ASX:PSH) Business Description

Industry

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Traded in Other Exchanges

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Address

Website

http://www.penrice.com.au

Penrice Soda Holdings Limited (PSH) is a manufacturer of soda ash and sodium bicarbonate in Australia. Penrice operates the soda ash and sodium bicarbonate plant located at Osborne, close to Adelaide and also operates the marble and limestone mine in SA at Angaston in the Barossa Valley.