Adagene (FRA:978) ROCE % : -32.94% (As of Dec. 2023)

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What is Adagene 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. Adagene's annualized ROCE % for the quarter that ended in Dec. 2023 was -32.94%.

Adagene ROCE % Historical Data

The historical data trend for Adagene'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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Adagene ROCE % Chart

Adagene Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-22.99

-47.90

-63.79

-63.81

-17.51

Adagene Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial					-40.58	-69.06	-58.17	-2.50	-32.94

Adagene ROCE % Calculation

Adagene'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 )
	=	-14.807	/	( ( (143.866 - 51.996)	+	(106.123 - 28.845) )	/ 2 )
	=	-14.807	/	( (91.87	+	77.278)	/ 2 )
	=	-14.807	/	84.574
	=	-17.51 %

Adagene'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 )
	=	-27.372	/	( ( (124.884 - 35.99)	+	(106.123 - 28.845) )	/ 2 )
	=	-27.372	/	( ( 88.894	+	77.278 )	/ 2 )
	=	-27.372	/	83.086
	=	-32.94 %

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

Adagene (FRA:978) 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.

Adagene ROCE % Related Terms

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Adagene (FRA:978) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Adagene Inc (FRA:978) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

ADAG:USA 978:Germany

Address

Xinghu Street, Suzhou Industrial Park, 4th Floor, Building C14, No. 218, Jiangsu Province, Suzhou, CHN, 215123

Website

https://www.adagene.com

Adagene Inc platform-driven, clinical-stage biopharmaceutical company engaged in transforming the discovery and development of novel antibody-based cancer immunotherapies. The company's platform is designed to generate therapeutic antibody candidates with functional epitopes and species cross-reactivity as highlighted by the company's immunotherapy pipeline.

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