Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) ROCE %: 24.26% (As of Dec. 2023)

What is Magnitogorsk Iron & Steel Works PJSC ROCE %?

Magnitogorsk Iron & Steel Works PJSC MIC:MAGN -6.46% 17 ROCE % is 24.26% as of Dec. 2023. GuruFocus rates MIC:MAGN with a GF Score™ of 17/100.

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. Magnitogorsk Iron & Steel Works PJSC's annualized ROCE % for the quarter that ended in Dec. 2023 was 24.26%.

Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) 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.

Magnitogorsk Iron & Steel Works PJSC ROCE % Related Terms

Magnitogorsk Iron & Steel Works PJSC ROCE % Historical Data

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The historical data trend for Magnitogorsk Iron & Steel Works PJSC'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.

Magnitogorsk Iron & Steel Works PJSC ROCE % Chart

Magnitogorsk Iron & Steel Works PJSC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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17.14

14.30

60.99

16.57

23.27

Magnitogorsk Iron & Steel Works PJSC Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															60.10	27.22	6.74	22.53	24.26

17GF Score

Magnitogorsk Iron & Steel Works PJSC MIC:MAGN

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Magnitogorsk Iron & Steel Works PJSC ROCE % Calculation

Magnitogorsk Iron & Steel Works PJSC'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 )
	=	153210	/	( ( (737785 - 139271)	+	(902002 - 183741) )	/ 2 )
	=	153210	/	( (598514	+	718261)	/ 2 )
	=	153210	/	658387.5
	=	23.27 %

Magnitogorsk Iron & Steel Works PJSC'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	165870	/	( ( (824597 - 175576)	+	(902002 - 183741) )	/ 2 )
	=	165870	/	( ( 649021	+	718261 )	/ 2 )
	=	165870	/	683641
	=	24.26 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 24.26% mean?

Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) has a ROCE % of 24.26% as of Dec. 2023.

Is Magnitogorsk Iron & Steel Works PJSC's ROCE % too high?

Magnitogorsk Iron & Steel Works PJSC's current ROCE % is 24.26%. The Steel industry median ROCE % is 5.51. Magnitogorsk Iron & Steel Works PJSC's value of 24.26% is 340.3% above this industry median. Overall, Magnitogorsk Iron & Steel Works PJSC has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.

How does Magnitogorsk Iron & Steel Works PJSC's ROCE % compare to NUE and STLD?

Magnitogorsk Iron & Steel Works PJSC's ROCE % of 24.26% can be compared against companies in the Steel industry. The industry median ROCE % is 5.51. Magnitogorsk Iron & Steel Works PJSC's value of 24.26% is 340.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Steel company?

The median ROCE % among Steel companies is 5.51, based on 620 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Magnitogorsk Iron & Steel Works PJSC's current ROCE % of 24.26% is 340.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Steel industry, the median ROCE % is 5.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Magnitogorsk Iron & Steel Works PJSC's current ROCE % is 24.26%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Magnitogorsk Iron & Steel Works PJSC stock overvalued right now?

Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) has a current ROCE % of 24.26%. The current ROCE % is 24.26% and 340.3% above the Steel industry median of 5.51. Magnitogorsk Iron & Steel Works PJSC's overall GF Score™ is 17/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN), the current ROCE % is 24.26% as of Dec. 2023. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Magnitogorsk Iron & Steel Works PJSC Business Description

Industry Basic Materials Steel

Comparable Companies MIC:IGST MIC:CHMF NUE BOM:500228 TSE:5401 XAMS:MT SHSE:600019 NSE:TATASTEEL STLD RS XKRX:005490 SHSE:600010 TPE:2002 BOM:532286 X SZSE:000708 TSE:5411 BOM:512455 BOM:526371 ASX:BSL

Address 93, Kirov Street, Chelyabinsk region, Magnitogorsk, RUS, 455000

Website https://www.mmk.ru

Magnitogorsk Iron & Steel Works PJSC is a steel producer in Russia. The company's output includes a broad range of steel products with a portion being high-value-added. In Russia, the company operates a large steel-producing complex encompassing the entire production chain from iron-ore processing to downstream production of rolled steel. The company sells the majority of its metal products in Russia. The company's financial results are divided into three segments: the Russian steel segment; the Turkish steel segment; and the coal segment. The steel segment accounts for the vast majority of the company's revenue.

17GF Score

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