Nova Eye Medical (Nova Eye Medical) ROCE % : -53.81% (As of Dec. 2023)

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What is Nova Eye Medical 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. Nova Eye Medical's annualized ROCE % for the quarter that ended in Dec. 2023 was -53.81%.

Nova Eye Medical ROCE % Historical Data

The historical data trend for Nova Eye Medical'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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Nova Eye Medical ROCE % Chart

Nova Eye Medical Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-6.56

-8.29

-8.09

-26.45

-41.09

Nova Eye Medical Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-16.10	-38.47	-45.83	-38.93	-53.81

Nova Eye Medical ROCE % Calculation

Nova Eye Medical'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 )
	=	-8.05	/	( ( (25.738 - 2.715)	+	(20.374 - 4.211) )	/ 2 )
	=	-8.05	/	( (23.023	+	16.163)	/ 2 )
	=	-8.05	/	19.593
	=	-41.09 %

Nova Eye Medical'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 )
	=	-7.514	/	( ( (20.374 - 4.211)	+	(15.979 - 4.212) )	/ 2 )
	=	-7.514	/	( ( 16.163	+	11.767 )	/ 2 )
	=	-7.514	/	13.965
	=	-53.81 %

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

Nova Eye Medical (OTCPK:ELXMF) 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.

Nova Eye Medical ROCE % Related Terms

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Nova Eye Medical (Nova Eye Medical) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Nova Eye Medical Ltd (OTCPK:ELXMF) » Definitions » ROCE %

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EYE:Australia

Address

107 Rundle Street, Kent Town, Adelaide, SA, AUS, 5067

Website

https://www.nova-eye.com

Nova Eye Medical Ltd is a medical technology company that develops, manufactures and sells a portfolio of proprietary ophthalmic treatment technologies and devices. Used by eye surgeons globally, these technologies include iTrack minimally invasive glaucoma surgery (MIGS), a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patient reliance on anti-glaucoma medications for mild-moderate glaucoma. The company's operating segment include AlphaRET and Glaucoma Surgical Devices, it generates maximum revenue from Glaucoma Surgical Devices. Geographically, it derives a majority of revenue from the United States of America.

Nova Eye Medical (Nova Eye Medical) Headlines

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By Business Wire Business Wire • 04-12-2023