Innovex Downhole Solutions (Innovex Downhole Solutions) ROCE % : 0.00% (As of Sep. 2023)

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What is Innovex Downhole Solutions 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. Innovex Downhole Solutions's annualized ROCE % for the quarter that ended in Sep. 2023 was 0.00%.

Innovex Downhole Solutions ROCE % Historical Data

The historical data trend for Innovex Downhole Solutions'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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Innovex Downhole Solutions ROCE % Chart

Innovex Downhole Solutions Annual Data

Trend

Dec21

Dec22

ROCE %

7.36

27.17

Innovex Downhole Solutions Quarterly Data
	Dec21	Sep22	Dec22	Sep23
ROCE %	-	-	22.46	-

Innovex Downhole Solutions ROCE % Calculation

Innovex Downhole Solutions's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	76.963	/	( ( (284.895 - 69.571)	+	(436.286 - 85.02) )	/ 2 )
	=	76.963	/	( (215.324	+	351.266)	/ 2 )
	=	76.963	/	283.295
	=	27.17 %

Innovex Downhole Solutions's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Dec. 2022 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Dec. 2022 )		(Q: Sep. 2023 )
	=	0	/	( ( (436.286 - 85.02)	+	(486.98 - 103.143) )	/ 2 )
	=	0	/	( ( 351.266	+	383.837 )	/ 2 )
	=	0	/	367.5515
	=	0.00 %

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

Innovex Downhole Solutions (NYSE:INVX) 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.

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Innovex Downhole Solutions (Innovex Downhole Solutions) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Innovex Downhole Solutions Inc (NYSE:INVX) » Definitions » ROCE %

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Innovex Downhole Solutions Inc designs, manufactures, sells and rents mission critical engineered products to the global oil and natural gas industry. Its products include Well head system, Drilling and development, Well construction, Well completion, Production solution and fishing and intervention.

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