Hove AS (OCSE:HOVE) ROCE % : 18.41% (As of Jun. 2024)

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What is Hove AS 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. Hove AS's annualized ROCE % for the quarter that ended in Jun. 2024 was 18.41%.

Hove AS ROCE % Historical Data

The historical data trend for Hove 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.

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Hove AS ROCE % Chart

Hove AS Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

14.00

26.35

10.41

13.75

12.06

Hove AS Semi-Annual Data
	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROCE %	Get a 7-Day Free Trial				4.29	23.54	32.04	-8.24	18.41

Hove AS ROCE % Calculation

Hove AS'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 )
	=	9.974	/	( ( (115.381 - 32.39)	+	(96.416 - 13.974) )	/ 2 )
	=	9.974	/	( (82.991	+	82.442)	/ 2 )
	=	9.974	/	82.7165
	=	12.06 %

Hove AS's ROCE % of for the quarter that ended in Jun. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	15.334	/	( ( (96.416 - 13.974)	+	(104.54 - 20.425) )	/ 2 )
	=	15.334	/	( ( 82.442	+	84.115 )	/ 2 )
	=	15.334	/	83.2785
	=	18.41 %

(1) Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

Hove AS (OCSE:HOVE) 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.

Hove AS ROCE % Related Terms

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Hove AS Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Hove AS (OCSE:HOVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Herstedostervej 7, Glostrup, DNK, 2600

Website

https://www.hove-as.com

Hove AS develops, produces, and supplies lubrication solutions for heavy machinery. Its solutions are Hove Smart Lube, Hove Carry, Lubrication Solutions, and Beinlich Pumps. It also provides solutions for the Wind and Port industries.

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