Aeroflex Holding (FRA:1AX) ROCE % : 6.46% (As of Mar. 2014)

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What is Aeroflex Holding 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. Aeroflex Holding's annualized ROCE % for the quarter that ended in Mar. 2014 was 6.46%.

Aeroflex Holding ROCE % Historical Data

The historical data trend for Aeroflex Holding'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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Aeroflex Holding ROCE % Chart

Aeroflex Holding Annual Data

Trend

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

ROCE %

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-0.68

6.45

-0.55

-2.25

-7.24

Aeroflex Holding Quarterly Data
	Jun09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14
ROCE %	Get a 7-Day Free Trial														-1.37	-28.29	-0.04	3.97	6.46

Aeroflex Holding ROCE % Calculation

Aeroflex Holding's annualized ROCE % for the fiscal year that ended in Jun. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2013 )		(A: Jun. 2012 )		(A: Jun. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2013 )		(A: Jun. 2012 )		(A: Jun. 2013 )
	=	-55.96	/	( ( (948.277 - 85.312)	+	(779.947 - 97.887) )	/ 2 )
	=	-55.96	/	( (862.965	+	682.06)	/ 2 )
	=	-55.96	/	772.5125
	=	-7.24 %

Aeroflex Holding's ROCE % of for the quarter that ended in Mar. 2014 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2014 )		(Q: Dec. 2013 )		(Q: Mar. 2014 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2014 )		(Q: Dec. 2013 )		(Q: Mar. 2014 )
	=	43.16	/	( ( (749.476 - 78.721)	+	(750.36 - 84.655) )	/ 2 )
	=	43.16	/	( ( 670.755	+	665.705 )	/ 2 )
	=	43.16	/	668.23
	=	6.46 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2014) EBIT data.

Aeroflex Holding (FRA:1AX) 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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Aeroflex Holding (FRA:1AX) Business Description

Industry

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Address

Website

http://www.aeroflex.com

Aeroflex Holding Corp is a provider of radio frequency, or RF, and microwave integrated circuits, components and systems used in the design, development and maintenance of technically demanding, high-performance wireless communication systems. Its solutions include microelectronic components and test and measurement equipment used by companies in the: commercial wireless communications; space, avionics and defense; and medical and other markets. The products it manufactures include RF, microwave and millimeter wave microelectronic components , or HiRel, and radiation hardened, or RadHard, integrated circuits, or ICs, and analog and mixed-signal devices. It also manufactures RF and microwave wireless radio and avionics test equipment and solutions particularly for the wireless, avionics and radio test markets. The Company operates in the following segments: Aeroflex Microelectronic Solutions, or AMS, and Aeroflex Test Solutions, or ATS. AMS offers microelectronics products and is a provider of high-performance, high reliability specialty products for the commercial wireless communications and the space, avionics and defense and medical and other markets. ATS is a provider of specialized test and measurement hardware and software products, primarily for the commercial wireless communications and the space, avionics and defense markets. AMS addresses value-added specialty markets requiring application specific, custom engineered, high-performance microelectronic solutions. ATS addresses value-added specialty markets requiring application specific, custom engineered, high-performance testing solutions. Its operations are subject to various federal, state, local, and foreign environmental laws, ordinances and regulations that limit discharges into the environment, establish standards for the handling, generation, use, emission, release, discharge, treatment, storage and disposal of, or exposure to, hazardous materials, substances and waste, and require cleanup of contaminated soil and groundwater.

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