Heartware International, (FRA:HIY1) ROCE % : -7.21% (As of Jun. 2016)

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What is Heartware International, 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. Heartware International,'s annualized ROCE % for the quarter that ended in Jun. 2016 was -7.21%.

Heartware International, ROCE % Historical Data

The historical data trend for Heartware International,'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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Heartware International, ROCE % Chart

Heartware International, Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

ROCE %

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-18.55

-38.63

-16.75

-1.59

-15.81

Heartware International, Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
ROCE %	Get a 7-Day Free Trial															-22.69	-23.78	2.92	-13.79	-7.21

Heartware International, ROCE % Calculation

Heartware International,'s annualized ROCE % for the fiscal year that ended in Dec. 2015 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2015 )		(A: Dec. 2014 )		(A: Dec. 2015 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2015 )		(A: Dec. 2014 )		(A: Dec. 2015 )
	=	-52.749	/	( ( (343.712 - 40.478)	+	(420.055 - 56.125) )	/ 2 )
	=	-52.749	/	( (303.234	+	363.93)	/ 2 )
	=	-52.749	/	333.582
	=	-15.81 %

Heartware International,'s ROCE % of for the quarter that ended in Jun. 2016 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2016 )		(Q: Mar. 2016 )		(Q: Jun. 2016 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2016 )		(Q: Mar. 2016 )		(Q: Jun. 2016 )
	=	-24.536	/	( ( (387.32 - 44.209)	+	(382.141 - 44.968) )	/ 2 )
	=	-24.536	/	( ( 343.111	+	337.173 )	/ 2 )
	=	-24.536	/	340.142
	=	-7.21 %

(1) Note: The EBIT data used here is four times the quarterly (Jun. 2016) EBIT data.

Heartware International, (FRA:HIY1) 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.

Heartware International, ROCE % Related Terms

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Heartware International, (FRA:HIY1) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Heartware International, Inc. (FRA:HIY1) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.heartware.com

Heartware International Inc was incorporated in Delaware on July 29, 2008 and became the successor issuer to HeartWare Limited, an Australian corporation, on November 13, 2008, as a result of the Australian Court approved redomiciliation of HeartWare Limited from Australia to Delaware. HeartWare is a medical device company engaged in developing implantable blood pumps for the treatment of advanced heart failure. The Company operates one reportable segment which includes the design, manufacture and marketing of medical devices for the treatment of advanced heart failure. The HeartWare Ventricular Assist System, which includes a left ventricular assist device, or blood pump, patient accessories and surgical tools, is designed to provide circulatory support for patients with advanced heart failure. Beyond the HeartWare System, the company is also evaluating its next device, the Miniaturized Ventricular Assist Device. The MVAD is based on the same technology platform as the HeartWare System but adopts an axial flow, rather than a centrifugal flow, configuration and is being developed in multiple configurations. The MVAD designs are currently at the preclinical stage and undergoing animal studies focused on minimally invasive implantation techniques and are each approximately one-third the size of the HVAD Pump. The Company's competitors in the implantable cardiac assist space include Thoratec Corporation, Jarvik Heart, Inc., MicroMed Cardiovascular, Berlin Heart GmbH, and Sunshine Heart, Inc. HEARTWARE, HVAD, MVAD, PAL, CIRCULITE, SYNERGY and various company logos are the trademarks of the Company, in the United States, Europe, Australia and other countries.

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