Sierra Nevada Gold (ASX:SNX) ROCE % : -10.87% (As of Jun. 2023)

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What is Sierra Nevada Gold 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. Sierra Nevada Gold's annualized ROCE % for the quarter that ended in Jun. 2023 was -10.87%.

Sierra Nevada Gold ROCE % Historical Data

The historical data trend for Sierra Nevada Gold'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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Sierra Nevada Gold ROCE % Chart

Sierra Nevada Gold Annual Data

Trend

Dec22

Dec23

ROCE %

-14.58

-9.77

Sierra Nevada Gold Semi-Annual Data
	Jun21	Jun22	Dec22	Jun23	Dec23
ROCE %	-	-16.38	-11.76	-10.87	-8.69

Sierra Nevada Gold ROCE % Calculation

Sierra Nevada Gold'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 )
	=	-2.222	/	( ( (24.3 - 1.319)	+	(23.321 - 0.811) )	/ 2 )
	=	-2.222	/	( (22.981	+	22.51)	/ 2 )
	=	-2.222	/	22.7455
	=	-9.77 %

Sierra Nevada Gold's ROCE % of for the quarter that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	-2.48	/	( ( (24.3 - 1.319)	+	(23.281 - 0.612) )	/ 2 )
	=	-2.48	/	( ( 22.981	+	22.669 )	/ 2 )
	=	-2.48	/	22.825
	=	-10.87 %

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

Sierra Nevada Gold (ASX:SNX) 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.

Sierra Nevada Gold ROCE % Related Terms

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