Northern Drilling (CHIX:NODLO) ROCE % : -5.50% (As of Jun. 2023)

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What is Northern Drilling 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. Northern Drilling's annualized ROCE % for the quarter that ended in Jun. 2023 was -5.50%.

Northern Drilling ROCE % Historical Data

The historical data trend for Northern Drilling'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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Northern Drilling ROCE % Chart

Northern Drilling Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

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0.01

-0.32

-0.64

-2.13

-2.83

Northern Drilling Semi-Annual Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
ROCE %	Get a 7-Day Free Trial						-1.65	-2.58	-2.22	-3.29	-5.50

Northern Drilling ROCE % Calculation

Northern Drilling's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	-63.084	/	( ( (2161.49 - 8.631)	+	(2316.488 - 10.611) )	/ 2 )
	=	-63.084	/	( (2152.859	+	2305.877)	/ 2 )
	=	-63.084	/	2229.368
	=	-2.83 %

Northern Drilling'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 )
	=	-133.724	/	( ( (2316.488 - 10.611)	+	(2574.866 - 15.363) )	/ 2 )
	=	-133.724	/	( ( 2305.877	+	2559.503 )	/ 2 )
	=	-133.724	/	2432.69
	=	-5.50 %

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

Northern Drilling (CHIX:NODLo) 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.

Northern Drilling ROCE % Related Terms

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Northern Drilling (CHIX:NODLO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Northern Drilling Ltd (CHIX:NODLo) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NODLo:Sweden NODL:Norway

Address

14 Par La Ville Road, Par La Ville Place, Hamilton, BMU, HM08

Website

https://www.northerndrillingltd.com

Northern Drilling Ltd is an international drilling contractor for the oil and gas industry, with the ambition of acquiring and operating modern drilling assets, and is expected to be primarily engaged in offshore contract drilling in ultra-deepwater environments. West Aquila and West Libra are some of its major sophisticated high-end drilling units.

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