Westfield (ASX:WFD) ROCE % : 9.74% (As of Dec. 2017)

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What is Westfield 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. Westfield's annualized ROCE % for the quarter that ended in Dec. 2017 was 9.74%.

Westfield ROCE % Historical Data

The historical data trend for Westfield'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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Westfield ROCE % Chart

Westfield Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

ROCE %

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8.39

1.46

8.52

10.08

8.08

Westfield Semi-Annual Data
	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17
ROCE %	Get a 7-Day Free Trial															9.66	7.13	13.36	6.62	9.74

Westfield ROCE % Calculation

Westfield's annualized ROCE % for the fiscal year that ended in Dec. 2017 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2017 )		(A: Dec. 2016 )		(A: Dec. 2017 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2017 )		(A: Dec. 2016 )		(A: Dec. 2017 )
	=	2012.179	/	( ( (25933.527 - 2127.971)	+	(27249.103 - 1223.974) )	/ 2 )
	=	2012.179	/	( (23805.556	+	26025.129)	/ 2 )
	=	2012.179	/	24915.3425
	=	8.08 %

Westfield's ROCE % of for the quarter that ended in Dec. 2017 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2017 )		(Q: Jun. 2017 )		(Q: Dec. 2017 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2017 )		(Q: Jun. 2017 )		(Q: Dec. 2017 )
	=	2439.336	/	( ( (26094.514 - 2041.992)	+	(27249.103 - 1223.974) )	/ 2 )
	=	2439.336	/	( ( 24052.522	+	26025.129 )	/ 2 )
	=	2439.336	/	25038.8255
	=	9.74 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2017) EBIT data.

Westfield (ASX:WFD) 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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Westfield (ASX:WFD) Business Description

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Address

Website

http://www.westfieldcorp.com

Westfield is one of the largest global retail REITs, with interests in 35 malls with a gross value of USD 21.4 billion and external assets under management of USD 13 billion. Westfield's passive investments generate about 80% of group EBIT, with the balance derived from management fees and development income. It differs from peers by developing malls in signature locations, and aims to make each of its assets into a destination centre, with comprehensive entertainment facilities and premium retailers.

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