Harima Chemicals Group (TSE:4410) ROCE % : 6.21% (As of Dec. 2023)

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What is Harima Chemicals Group 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. Harima Chemicals Group's annualized ROCE % for the quarter that ended in Dec. 2023 was 6.21%.

Harima Chemicals Group ROCE % Historical Data

The historical data trend for Harima Chemicals Group'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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Harima Chemicals Group ROCE % Chart

Harima Chemicals Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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10.85

8.54

5.53

6.27

5.16

Harima Chemicals Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															6.60	-8.28	-0.60	0.55	6.21

Harima Chemicals Group ROCE % Calculation

Harima Chemicals Group's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	2747.95	/	( ( (78905.043 - 23149.859)	+	(92439.088 - 41656.879) )	/ 2 )
	=	2747.95	/	( (55755.184	+	50782.209)	/ 2 )
	=	2747.95	/	53268.6965
	=	5.16 %

Harima Chemicals Group's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	3256	/	( ( (100506 - 48796)	+	(106403 - 53261) )	/ 2 )
	=	3256	/	( ( 51710	+	53142 )	/ 2 )
	=	3256	/	52426
	=	6.21 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Harima Chemicals Group (TSE:4410) 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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Harima Chemicals Group (TSE:4410) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Harima Chemicals Group Inc (TSE:4410) » Definitions » ROCE %

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N/A

Address

3 - chome Nihonbashi 3 - chome Chuo - ku, Tokyo, JPN, 103-0027

Website

http://www.harima.co.jp

Harima Chemicals Group Inc is a Japan-based chemical manufacturer. The company is mainly engaged in chemical products business, papermaking chemical business, and electronic materials business. Products offered by the company include resins for printing ink, paint, resin for adhesive and adhesive, emulsifier for synthetic rubber, sizing agent, paper strength enhancer, and coating agent. Electronic materials business develops, manufacture and sell conductive paste, brazing material for aluminum and printed wiring board related materials. Harima has a global network with presence in Europe, Asia, Oceania, North America, and South America.

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