Element 29 Resources (FRA:2IK) ROCE % : -29.65% (As of Sep. 2024)

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What is Element 29 Resources 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. Element 29 Resources's annualized ROCE % for the quarter that ended in Sep. 2024 was -29.65%.

Element 29 Resources ROCE % Historical Data

The historical data trend for Element 29 Resources'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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Element 29 Resources ROCE % Chart

Element 29 Resources Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

-23.55

-18.55

-20.58

-33.76

-12.69

Element 29 Resources Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															-11.82	-11.89	-8.53	-8.40	-29.65

Element 29 Resources ROCE % Calculation

Element 29 Resources'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 )
	=	-1.305	/	( ( (10.106 - 0.32)	+	(10.886 - 0.111) )	/ 2 )
	=	-1.305	/	( (9.786	+	10.775)	/ 2 )
	=	-1.305	/	10.2805
	=	-12.69 %

Element 29 Resources's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	-2.276	/	( ( (6.919 - 0.086)	+	(8.669 - 0.152) )	/ 2 )
	=	-2.276	/	( ( 6.833	+	8.517 )	/ 2 )
	=	-2.276	/	7.675
	=	-29.65 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

Element 29 Resources (FRA:2IK) 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.

Element 29 Resources ROCE % Related Terms

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Element 29 Resources Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Element 29 Resources Inc (FRA:2IK) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

EMTRF:USA ECU:Canada

Address

1650 - 1066 West Hastings Street, Vancouver, BC, CAN, V6C3X1

Website

https://www.e29copper.com

Element 29 Resources Inc is a Canada-based mineral exploration company acquiring, exploring, and evaluating resource properties. Its projects include the Flor de Cobre and Elida copper projects, among others. It has one business segment, the exploration of mineral properties. The company's properties are located in Peru.

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