Patterson-UTI Energy (FRA:PE1) ROCE % : -69.10% (As of Sep. 2024)

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What is Patterson-UTI Energy 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. Patterson-UTI Energy's annualized ROCE % for the quarter that ended in Sep. 2024 was -69.10%.

Patterson-UTI Energy ROCE % Historical Data

The historical data trend for Patterson-UTI Energy'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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Patterson-UTI Energy ROCE % Chart

Patterson-UTI Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-10.27

-23.91

-25.42

8.40

7.97

Patterson-UTI Energy 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															1.00	6.95	5.69	3.05	-69.10

Patterson-UTI Energy ROCE % Calculation

Patterson-UTI Energy'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 )
	=	330.096	/	( ( (2967.769 - 520.112)	+	(6804.168 - 963.249) )	/ 2 )
	=	330.096	/	( (2447.657	+	5840.919)	/ 2 )
	=	330.096	/	4144.288
	=	7.97 %

Patterson-UTI Energy'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 )
	=	-3570.124	/	( ( (6523.745 - 790.762)	+	(5373.273 - 773.42) )	/ 2 )
	=	-3570.124	/	( ( 5732.983	+	4599.853 )	/ 2 )
	=	-3570.124	/	5166.418
	=	-69.10 %

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

Patterson-UTI Energy (FRA:PE1) 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.

Patterson-UTI Energy ROCE % Related Terms

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Patterson-UTI Energy Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Patterson-UTI Energy Inc (FRA:PE1) » Definitions » ROCE %

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PTEN:USA PE1:Germany

Address

10713 West Sam Houston Parkway North, Suite 800, Houston, TX, USA, 77064

Website

https://www.patenergy.com

Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. It also provides directional drilling services and tool rental services in most US onshore oil and gas basins.

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