Mie Co (NGO:3442) ROCE % : 17.98% (As of Dec. 2023)

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What is Mie Co 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. Mie Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 17.98%.

Mie Co ROCE % Historical Data

The historical data trend for Mie Co'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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Mie Co ROCE % Chart

Mie Co Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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8.72

7.60

6.37

7.92

12.43

Mie Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															11.46	11.70	15.29	12.47	17.98

Mie Co ROCE % Calculation

Mie Co's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	448.859	/	( ( (6782.521 - 3613.282)	+	(7273.419 - 3222.641) )	/ 2 )
	=	448.859	/	( (3169.239	+	4050.778)	/ 2 )
	=	448.859	/	3610.0085
	=	12.43 %

Mie Co'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: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	749.768	/	( ( (8094.553 - 3970.536)	+	(8187.255 - 3969.338) )	/ 2 )
	=	749.768	/	( ( 4124.017	+	4217.917 )	/ 2 )
	=	749.768	/	4170.967
	=	17.98 %

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

Mie Co (NGO:3442) 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.

Mie Co ROCE % Related Terms

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Mie Co (NGO:3442) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Mie Corp Co Ltd (NGO:3442) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

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Address

1001 Oaza Hoshikawa, Mie-ken, Kuwana, JPN, 511-0912

Website

http://www.mie-corp.jp

Mie Corp Co Ltd is a Japanese holding company. The company through its subsidiaries is engaged in manufacturing of stainless steel fittings and flanges and prefabricated piping processing of piping equipment. The products of the company include butt weld type fitting, housing type pipe fitting, and stainless steel pipe flange.

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