Turners Group NZ (NZSE:TUA) ROCE % : 24.32% (As of Jun. 2014)

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What is Turners Group NZ 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. Turners Group NZ's annualized ROCE % for the quarter that ended in Jun. 2014 was 24.32%.

Turners Group NZ ROCE % Historical Data

The historical data trend for Turners Group NZ'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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Turners Group NZ ROCE % Chart

Turners Group NZ Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

ROCE %

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22.19

20.77

23.61

26.22

27.17

Turners Group NZ Semi-Annual Data
	Dec03	Jun04	Dec04	Jun05	Dec05	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14
ROCE %	Get a 7-Day Free Trial															25.34	27.44	25.65	29.69	24.32

Turners Group NZ ROCE % Calculation

Turners Group NZ's annualized ROCE % for the fiscal year that ended in Dec. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2013 )		(A: Dec. 2012 )		(A: Dec. 2013 )
	=	8.704	/	( ( (49.759 - 19.599)	+	(57.016 - 23.097) )	/ 2 )
	=	8.704	/	( (30.16	+	33.919)	/ 2 )
	=	8.704	/	32.0395
	=	27.17 %

Turners Group NZ's ROCE % of for the quarter that ended in Jun. 2014 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2014 )		(Q: Dec. 2013 )		(Q: Jun. 2014 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2014 )		(Q: Dec. 2013 )		(Q: Jun. 2014 )
	=	8.636	/	( ( (57.016 - 23.097)	+	(64.032 - 26.926) )	/ 2 )
	=	8.636	/	( ( 33.919	+	37.106 )	/ 2 )
	=	8.636	/	35.5125
	=	24.32 %

(1) Note: The EBIT data used here is two times the semi-annual (Jun. 2014) EBIT data.

Turners Group NZ (NZSE:TUA) 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.

Turners Group NZ ROCE % Related Terms

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Turners Group NZ (NZSE:TUA) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Turners Group NZ Ltd (NZSE:TUA) » Definitions » ROCE %

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Address

Website

http://www.turners.co.nz

Turners Auctions Limited (TUA-NZ) is New Zealand's largest auction house with 16 branches nation wide and annual turnover exceeding NZ$400m. TUA is also the largest single seller of motor vehicles in New Zealand. The business operates in two broad markets: used vehicles and commercial goods. Vehicle sales include trucks, damaged insurance salvaged vehicles, light commercial vehicles and passenger cars. Commercial sales include a wide variety of surplus equipment such as heavy plant and machinery, police and custom seized goods, liquidator sales, catering equipment, computers and furniture.