Northern Ocean (Northern Ocean) ROCE % : 2.22% (As of Mar. 2024)

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What is Northern Ocean 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. Northern Ocean's annualized ROCE % for the quarter that ended in Mar. 2024 was 2.22%.

Northern Ocean ROCE % Historical Data

The historical data trend for Northern Ocean'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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Northern Ocean ROCE % Chart

Northern Ocean Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

-0.73

-2.53

-5.95

-6.69

-2.37

Northern Ocean Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															-2.92	-2.81	-1.76	-1.91	2.22

Northern Ocean ROCE % Calculation

Northern Ocean'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 )
	=	-22.144	/	( ( (1053.782 - 79.355)	+	(1055.78 - 158.223) )	/ 2 )
	=	-22.144	/	( (974.427	+	897.557)	/ 2 )
	=	-22.144	/	935.992
	=	-2.37 %

Northern Ocean's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	15.844	/	( ( (1055.78 - 158.223)	+	(1030.388 - 500.165) )	/ 2 )
	=	15.844	/	( ( 897.557	+	530.223 )	/ 2 )
	=	15.844	/	713.89
	=	2.22 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Northern Ocean (OTCPK:NTNOF) 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.

Northern Ocean ROCE % Related Terms

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Northern Ocean (Northern Ocean) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Northern Ocean Ltd (OTCPK:NTNOF) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NOLo:Sweden NOL:Norway

Address

14 Par La Ville Road, Par La Ville Place, PO Box HM 1593, Hamilton, BMU, HM08

Website

https://www.northernocean.no

Northern Ocean Ltd is an international offshore drilling contractor for the oil and gas industry. The company acquires and operates modern drilling assets and is engaged in offshore contract drilling in benign and harsh environments, including ultra-deep-water environments. It owns one semi-submersible rig, Deepsea Mira; and one semi-submersible rig currently under construction, Deepsea Bollsta. The company earns revenue from Drilling, Mobilization and demobilization, Contract preparation and One-time reimbursed costs.

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