NKLAQ (Nikola) ROCE %: -358.18% (As of Dec. 2024)


What is Nikola ROCE %?

Nikola NKLAQ -30.00% ROCE % is -358.18% as of Dec. 2024.

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. Nikola's annualized ROCE % for the quarter that ended in Dec. 2024 was -358.18%.

Nikola  (OTCPK:NKLAQ) 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.

Nikola ROCE % Related Terms

Nikola ROCE % Historical Data

* Premium members only.

The historical data trend for Nikola'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.

Nikola ROCE % Chart

Nikola Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
ROCE %
Get a 7-Day Free Trial -60.66 -75.82 -84.19 -82.68 -136.75

Nikola Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -63.62 -61.32 -60.26 -98.94 -358.18

Nikola ROCE % Calculation

Nikola's annualized ROCE % for the fiscal year that ended in Dec. 2024 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2024 )  (A: Dec. 2023 )(A: Dec. 2024 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2024 )  (A: Dec. 2023 )(A: Dec. 2024 )
=-933.704/( ( (1274.857 - 260.105) + (596.177 - 245.398) )/ 2 )
=-933.704/( (1014.752+350.779)/ 2 )
=-933.704/682.7655
=-136.75 %

Nikola's ROCE % of for the quarter that ended in Dec. 2024 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2024 )  (Q: Sep. 2024 )(Q: Dec. 2024 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2024 )  (Q: Sep. 2024 )(Q: Dec. 2024 )
=-1882.312/( ( (1036.043 - 335.78) + (596.177 - 245.398) )/ 2 )
=-1882.312/( ( 700.263 + 350.779 )/ 2 )
=-1882.312/525.521
=-358.18 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2024) 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 -358.18% mean?
Nikola (NKLAQ) has a ROCE % of -358.18% as of Dec. 2024.
Is Nikola's ROCE % too high?
Nikola's current ROCE % is -358.18%.
How does Nikola's ROCE % compare to NMHI and GP?
Nikola's ROCE % of -358.18% can be compared against companies in the Farm & Heavy Construction Machinery industry. The industry median ROCE % is 9.18. 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 Farm & Heavy Construction Machinery company?
The median ROCE % among Farm & Heavy Construction Machinery companies is 9.18, based on 205 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. 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 Farm & Heavy Construction Machinery industry, the median ROCE % is 9.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nikola's current ROCE % is -358.18%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikola stock overvalued right now?
Nikola (NKLAQ) has a current ROCE % of -358.18%. The current ROCE % is -358.18%. 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 Nikola (NKLAQ), the current ROCE % is -358.18% as of Dec. 2024. 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.

Nikola Business Description

Address P.O. Box 27028, Tempe, AZ, USA, 85285
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.