Western Mines Group (ASX:WMG) ROCE % : -18.14% (As of Dec. 2023)

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What is Western Mines Group 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. Western Mines Group's annualized ROCE % for the quarter that ended in Dec. 2023 was -18.14%.

Western Mines Group ROCE % Historical Data

The historical data trend for Western Mines Group'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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Western Mines Group ROCE % Chart

Western Mines Group Annual Data

Trend

Jun21

Jun22

Jun23

ROCE %

-91.30

-41.10

-16.54

Western Mines Group Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	-22.34	-25.30	-19.95	-16.90	-18.14

Western Mines Group ROCE % Calculation

Western Mines Group'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 )
	=	-1.097	/	( ( (6.035 - 0.834)	+	(8.916 - 0.852) )	/ 2 )
	=	-1.097	/	( (5.201	+	8.064)	/ 2 )
	=	-1.097	/	6.6325
	=	-16.54 %

Western Mines Group'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 )
	=	-1.538	/	( ( (8.916 - 0.852)	+	(10.219 - 1.323) )	/ 2 )
	=	-1.538	/	( ( 8.064	+	8.896 )	/ 2 )
	=	-1.538	/	8.48
	=	-18.14 %

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

Western Mines Group (ASX:WMG) 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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Western Mines Group (ASX:WMG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Western Mines Group Ltd (ASX:WMG) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

33 Ord Street, Level 3, West Perth, WA, AUS, 6005

Website

https://www.westernmines.com.au

Western Mines Group Ltd is a mineral exploration company engaged in the exploration and discovery of high-value gold and nickel sulphide deposits across a portfolio prospective projects located on mineral belts of Western Australia. Some of its projects include Mulga Tank Ni-Cu-PGE Project, Melita Gold Project, Jasper Hill Gold Project, Youanmi Gold Project, Pavarotti Ni-Cu-PGE Project, Rock of Ages Gold Project, Broken Hill Bore Gold Project, and Pinyalling Gold Project.