Change Holdings (TSE:3962) ROCE % : -15.84% (As of Mar. 2024)

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What is Change Holdings 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. Change Holdings's annualized ROCE % for the quarter that ended in Mar. 2024 was -15.84%.

Change Holdings ROCE % Historical Data

The historical data trend for Change Holdings'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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Change Holdings ROCE % Chart

Change Holdings Annual Data

Trend

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Mar23

Mar24

ROCE %

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17.91

38.93

26.14

14.86

13.64

Change Holdings 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															4.65	10.63	32.92	41.59	-15.84

Change Holdings ROCE % Calculation

Change Holdings's annualized ROCE % for the fiscal year that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	7617	/	( ( (52943 - 9651)	+	(89325 - 20898) )	/ 2 )
	=	7617	/	( (43292	+	68427)	/ 2 )
	=	7617	/	55859.5
	=	13.64 %

Change Holdings'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 )
	=	-10984	/	( ( (93787 - 23500)	+	(89325 - 20898) )	/ 2 )
	=	-10984	/	( ( 70287	+	68427 )	/ 2 )
	=	-10984	/	69357
	=	-15.84 %

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

Change Holdings (TSE:3962) 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.

Change Holdings ROCE % Related Terms

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Change Holdings (TSE:3962) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Change Holdings Inc (TSE:3962) » Definitions » ROCE %

Comparable Companies

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N/A

Address

3-17-1 Toranomon, 6th Floor, TOKYU REIT Toranomon Building, Minato-ku, Tokyo, JPN, 105-0001

Website

https://www.change-jp.com

Change Holdings Inc provides mobility, IoT (Internet of Things) data, security and IT human resources training services. It segments are: Public Tech and NEW-IT Transformation Business. The Public Tech segment covers local government support projects that aims to realize high value-added resident services by utilizing ICT technology to promote the improvement of local government business productivity. The NEW-IT Transformation Business segment promotes digital transformation through various algorithms such as AI, voice Internet, mobility, IoT, cloud, security, services utilizing basic technology, and training for digital human resources. It also provides digital transformation solutions by combining libraries based on customer needs to realize customer digital transformation.

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