Chugoku Marine Paints (TSE:4617) ROCE % : 22.15% (As of Dec. 2023)

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What is Chugoku Marine Paints 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. Chugoku Marine Paints's annualized ROCE % for the quarter that ended in Dec. 2023 was 22.15%.

Chugoku Marine Paints ROCE % Historical Data

The historical data trend for Chugoku Marine Paints'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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Chugoku Marine Paints ROCE % Chart

Chugoku Marine Paints Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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0.98

2.40

9.44

2.85

8.05

Chugoku Marine Paints 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															15.74	10.69	14.24	18.68	22.15

Chugoku Marine Paints ROCE % Calculation

Chugoku Marine Paints'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 )
	=	5653	/	( ( (104618 - 34694)	+	(112747 - 42216) )	/ 2 )
	=	5653	/	( (69924	+	70531)	/ 2 )
	=	5653	/	70227.5
	=	8.05 %

Chugoku Marine Paints'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 )
	=	18064	/	( ( (123873 - 44407)	+	(132801 - 49170) )	/ 2 )
	=	18064	/	( ( 79466	+	83631 )	/ 2 )
	=	18064	/	81548.5
	=	22.15 %

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

Chugoku Marine Paints (TSE:4617) 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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Chugoku Marine Paints (TSE:4617) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Chugoku Marine Paints Ltd (TSE:4617) » Definitions » ROCE %

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Traded in Other Exchanges

N/A

Address

3-6-6 Kasumigaseki, Tokyo Club Building, Chiyoda-ku, Tokyo, JPN, 100-0013

Website

http://www.cmp.co.jp

Chugoku Marine Paints Ltd is a Japanese paint manufacturing firm. The company engages in manufacturing and marketing a variety of paints and coating materials which include marine paints, industrial paints, and container paints. Its products are used for various industry applications such as anti-fouling and epoxy paint for ships, caulking material for railways, and UV curable paint for plastics. It also undertakes painting contracts and serves a wide range of client base from across the world.

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