NTN (FRA:NTN) ROCE % : 6.20% (As of Dec. 2023)

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What is NTN 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. NTN's annualized ROCE % for the quarter that ended in Dec. 2023 was 6.20%.

NTN ROCE % Historical Data

The historical data trend for NTN'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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NTN ROCE % Chart

NTN Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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1.29

-6.04

0.43

4.04

3.08

NTN Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															3.79	4.67	2.82	3.28	6.20

NTN ROCE % Calculation

NTN's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	116.813	/	( ( (6550.815 - 2459.61)	+	(6078.051 - 2578.962) )	/ 2 )
	=	116.813	/	( (4091.205	+	3499.089)	/ 2 )
	=	116.813	/	3795.147
	=	3.08 %

NTN'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: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	223.7	/	( ( (5857.567 - 2192.071)	+	(5752.596 - 2206.636) )	/ 2 )
	=	223.7	/	( ( 3665.496	+	3545.96 )	/ 2 )
	=	223.7	/	3605.728
	=	6.20 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

NTN (FRA:NTN) 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.

NTN ROCE % Related Terms

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NTN (FRA:NTN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » NTN Corp (FRA:NTN) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

6472:Japan NTN:Germany

Address

3-17, 1-chome, Kyomachibori, Nishi-ku, Osaka, JPN, 550-0003

Website

http://www.ntn.co.jp

NTN Corp is a Japan-based company that manufactures and sells bearings, constant velocity joints, precision equipment, aftermarket parts, and other mechanical parts. The company's products are used in a wide range of applications, including automobile, electric vehicle, rolling stock, wind turbine, construction and mining machinery, agricultural machinery, machine tools, office equipment, steel manufacturing machinery, paper manufacturing machinery, food machinery, medical equipment, aerospace, and robots. The company has a global presence, with Japan, the Americas, and Europe the three largest markets for the company.