Array Technologies (STU:9AY) ROCE % : 3.66% (As of Mar. 2024)

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What is Array Technologies 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. Array Technologies's annualized ROCE % for the quarter that ended in Mar. 2024 was 3.66%.

Array Technologies ROCE % Historical Data

The historical data trend for Array Technologies'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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Array Technologies ROCE % Chart

Array Technologies Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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23.84

25.40

-4.11

3.05

16.72

Array Technologies 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															15.11	28.24	12.54	9.31	3.66

Array Technologies ROCE % Calculation

Array Technologies'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 )
	=	203.011	/	( ( (1610.513 - 439.207)	+	(1565.081 - 307.829) )	/ 2 )
	=	203.011	/	( (1171.306	+	1257.252)	/ 2 )
	=	203.011	/	1214.279
	=	16.72 %

Array Technologies'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 )
	=	45.664	/	( ( (1565.081 - 307.829)	+	(1498.94 - 260.969) )	/ 2 )
	=	45.664	/	( ( 1257.252	+	1237.971 )	/ 2 )
	=	45.664	/	1247.6115
	=	3.66 %

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

Array Technologies (STU:9AY) 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.

Array Technologies ROCE % Related Terms

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Array Technologies (STU:9AY) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Array Technologies Inc (STU:9AY) » Definitions » ROCE %

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ARRY:USA

Address

3901 Midway Place NE, Albuquerque, NM, USA, 87109

Website

https://www.arraytechinc.com

Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in the United States, Australia, Spain, Brazil and Rest of the World with the United States deriving the majority of the revenue.

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