AVE (ATH:AVE) ROCE % : -47.56% (As of Dec. 2023)

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What is AVE 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. AVE's annualized ROCE % for the quarter that ended in Dec. 2023 was -47.56%.

AVE ROCE % Historical Data

The historical data trend for AVE'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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AVE ROCE % Chart

AVE Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-1.90

14.16

-3.62

-15.38

-35.03

AVE Semi-Annual Data
	Dec17	Dec18	Dec19	Dec20	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial				-	-6.96	-27.82	-34.17	-47.56

AVE ROCE % Calculation

AVE'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 )
	=	-11.482	/	( ( (85.37 - 47.729)	+	(48.913 - 20.995) )	/ 2 )
	=	-11.482	/	( (37.641	+	27.918)	/ 2 )
	=	-11.482	/	32.7795
	=	-35.03 %

AVE'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 )
	=	-12.396	/	( ( (38.987 - 14.775)	+	(48.913 - 20.995) )	/ 2 )
	=	-12.396	/	( ( 24.212	+	27.918 )	/ 2 )
	=	-12.396	/	26.065
	=	-47.56 %

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

AVE (ATH:AVE) 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.

AVE ROCE % Related Terms

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AVE (ATH:AVE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » AVE SA (ATH:AVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Parnonos Street 3, Marousi, GRC, 15125

Website

http://www.ave.gr

AVE SA distributes prerecorded DVDs and videotapes in Greece and Cyprus.

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