Waters (STU:WAZ) ROCE % : 22.95% (As of Sep. 2024)

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What is Waters 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. Waters's annualized ROCE % for the quarter that ended in Sep. 2024 was 22.95%.

Waters ROCE % Historical Data

The historical data trend for Waters'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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Waters ROCE % Chart

Waters Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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28.13

31.52

39.55

37.26

26.07

Waters Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															19.76	27.98	15.00	21.13	22.95

Waters ROCE % Calculation

Waters'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 )
	=	765.79	/	( ( (3097.692 - 741.736)	+	(4242.825 - 724.045) )	/ 2 )
	=	765.79	/	( (2355.956	+	3518.78)	/ 2 )
	=	765.79	/	2937.368
	=	26.07 %

Waters's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	775.048	/	( ( (4133.165 - 708.392)	+	(4064.97 - 735.252) )	/ 2 )
	=	775.048	/	( ( 3424.773	+	3329.718 )	/ 2 )
	=	775.048	/	3377.2455
	=	22.95 %

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

Waters (STU:WAZ) 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.

Waters ROCE % Related Terms

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Waters Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Waters Corp (STU:WAZ) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

WAT:USA WAT:Mexico 0LTI:UK WAZ:Germany

Address

34 Maple Street, Milford, MA, USA, 01757

Website

https://www.waters.com

Water sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. As a percentage of sales in 2023, Waters generated 57% from biopharmaceutical customers, 31% from industrial clients, and 12% from academic/government institutions.

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