AZ Electronic Materials (FRA:OAZ) ROCE % : 9.21% (As of Dec. 2013)

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What is AZ Electronic Materials 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. AZ Electronic Materials's annualized ROCE % for the quarter that ended in Dec. 2013 was 9.21%.

AZ Electronic Materials ROCE % Historical Data

The historical data trend for AZ Electronic Materials'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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AZ Electronic Materials ROCE % Chart

AZ Electronic Materials Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

ROCE %

-16.79

-1.44

10.08

9.97

8.83

AZ Electronic Materials Semi-Annual Data
	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13
ROCE %	Get a 7-Day Free Trial			10.30	9.01	10.74	8.92	9.21

AZ Electronic Materials ROCE % Calculation

AZ Electronic Materials's annualized ROCE % for the fiscal year that ended in Dec. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	84.826	/	( ( (1194.664 - 147.676)	+	(1012.51 - 137.897) )	/ 2 )
	=	84.826	/	( (1046.988	+	874.613)	/ 2 )
	=	84.826	/	960.8005
	=	8.83 %

AZ Electronic Materials's ROCE % of for the quarter that ended in Dec. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2013 )		(Q: Jun. 2013 )		(Q: Dec. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2013 )		(Q: Jun. 2013 )		(Q: Dec. 2013 )
	=	83.95	/	( ( (1076.36 - 126.965)	+	(1012.51 - 137.897) )	/ 2 )
	=	83.95	/	( ( 949.395	+	874.613 )	/ 2 )
	=	83.95	/	912.004
	=	9.21 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2013) EBIT data.

AZ Electronic Materials (FRA:OAZ) 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.

AZ Electronic Materials ROCE % Related Terms

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AZ Electronic Materials (FRA:OAZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » AZ Electronic Materials SA (FRA:OAZ) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.azem.com

AZ Electronic Materials SA is a Luxembourg- based company engaged in producing and supplying specialty chemicals. It focuses on three business areas Integrated Circuits which involves dielectrics, underlayers, yield enhancers, CMP slurries and pattern enhancers, Display Materials and AZ products such as specialty chemicals and materials used in integrated circuits and devise as well as flat panel displays and photolithographic printing.

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