Asia Offshore Drilling (OSL:AOD) ROCE % : -2.58% (As of Mar. 2013)

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What is Asia Offshore Drilling 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. Asia Offshore Drilling's annualized ROCE % for the quarter that ended in Mar. 2013 was -2.58%.

Asia Offshore Drilling ROCE % Historical Data

The historical data trend for Asia Offshore Drilling'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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Asia Offshore Drilling ROCE % Chart

Asia Offshore Drilling Annual Data

Trend

Sep11

Dec12

ROCE %

-2.45

-1.25

Asia Offshore Drilling Quarterly Data
	Mar11	Jun11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13
ROCE %	Get a 7-Day Free Trial			-0.69	-0.51	-1.66	-2.76	-2.58

Asia Offshore Drilling ROCE % Calculation

Asia Offshore Drilling's annualized ROCE % for the fiscal year that ended in Dec. 2012 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2012 )		(A: Sep. 2011 )		(A: Dec. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2012 )		(A: Sep. 2011 )		(A: Dec. 2012 )
	=	-11.703	/	( ( (993.122 - 47.52)	+	(967.816 - 36.018) )	/ 2 )
	=	-11.703	/	( (945.602	+	931.798)	/ 2 )
	=	-11.703	/	938.7
	=	-1.25 %

Asia Offshore Drilling's ROCE % of for the quarter that ended in Mar. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2013 )		(Q: Dec. 2012 )		(Q: Mar. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2013 )		(Q: Dec. 2012 )		(Q: Mar. 2013 )
	=	-31.7	/	( ( (967.816 - 36.018)	+	(1841.965 - 316.06) )	/ 2 )
	=	-31.7	/	( ( 931.798	+	1525.905 )	/ 2 )
	=	-31.7	/	1228.8515
	=	-2.58 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2013) EBIT data.

Asia Offshore Drilling (OSL:AOD) 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.

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