MNGA (MNG Havayollari ve Tasimacilik AS) ROCE %: 27.68% (As of Dec. 2022)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

What is MNG Havayollari ve Tasimacilik AS ROCE %?

MNG Havayollari ve Tasimacilik AS MNGA ROCE % is 27.68% as of Dec. 2022.

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. MNG Havayollari ve Tasimacilik AS's annualized ROCE % for the quarter that ended in Dec. 2022 was 27.68%.

MNG Havayollari ve Tasimacilik AS  (NYSE:MNGA) 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.

MNG Havayollari ve Tasimacilik AS ROCE % Related Terms

MNG Havayollari ve Tasimacilik AS ROCE % Historical Data

* Premium members only.

The historical data trend for MNG Havayollari ve Tasimacilik AS'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.

MNG Havayollari ve Tasimacilik AS ROCE % Chart

MNG Havayollari ve Tasimacilik AS Annual Data
Trend Dec20 Dec21 Dec22
ROCE %
31.00 31.13 27.84

MNG Havayollari ve Tasimacilik AS Quarterly Data
Dec20 Dec21 Sep22 Dec22
ROCE % 0.00 34.98 0.00 27.68

MNG Havayollari ve Tasimacilik AS ROCE % Calculation

MNG Havayollari ve Tasimacilik AS'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 )
=75.496/( ( (349.781 - 96.482) + (363.927 - 74.959) )/ 2 )
=75.496/( (253.299+288.968)/ 2 )
=75.496/271.1335
=27.84 %

MNG Havayollari ve Tasimacilik AS's ROCE % of for the quarter that ended in Dec. 2022 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2022 )  (Q: Sep. 2022 )(Q: Dec. 2022 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2022 )  (Q: Sep. 2022 )(Q: Dec. 2022 )
=78.272/( ( (356.639 - 79.991) + (363.927 - 74.959) )/ 2 )
=78.272/( ( 276.648 + 288.968 )/ 2 )
=78.272/282.808
=27.68 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2022) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 27.68% mean?
MNG Havayollari ve Tasimacilik AS (MNGA) has a ROCE % of 27.68% as of Dec. 2022.
Is MNG Havayollari ve Tasimacilik AS's ROCE % too high?
MNG Havayollari ve Tasimacilik AS's current ROCE % is 27.68%. The Transportation industry median ROCE % is 7.74. MNG Havayollari ve Tasimacilik AS's value of 27.68% is 257.9% above this industry median.
How does MNG Havayollari ve Tasimacilik AS's ROCE % compare to ?
MNG Havayollari ve Tasimacilik AS's ROCE % of 27.68% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.74. MNG Havayollari ve Tasimacilik AS's value of 27.68% is 257.9% 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 Transportation company?
The median ROCE % among Transportation companies is 7.74, based on 992 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. MNG Havayollari ve Tasimacilik AS's current ROCE % of 27.68% is 257.9% 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 Transportation industry, the median ROCE % is 7.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MNG Havayollari ve Tasimacilik AS's current ROCE % is 27.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MNG Havayollari ve Tasimacilik AS stock overvalued right now?
MNG Havayollari ve Tasimacilik AS (MNGA) has a current ROCE % of 27.68%. The current ROCE % is 27.68% and 257.9% above the Transportation industry median of 7.74. 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 MNG Havayollari ve Tasimacilik AS (MNGA), the current ROCE % is 27.68% as of Dec. 2022. 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.

MNG Havayollari ve Tasimacilik AS Business Description

Comparable Companies
Address WOW Convention Center ?DTM, Yesilkoy/Bakirkoy, Istanbul, TUR, 34149
MNG Havayollari ve Tasimacilik AS is an independent logistics provider mainly in the EMEA region and a global e-commerce enabler. Its service offerings include scheduled and block space, charter, ACMI, special cargo, warehouse, handling and technical services. MNG's diversified business model provides MNG with a competitive advantage in the air cargo market, as it gives MNG the opportunity to provide customized services to its customers in accordance with needs and expectations. The company recognizes revenue for its global multimodal operations based on the origin of transported cargo carried on each flight.