Toyo Tire (TSE:5105) ROCE % : 21.43% (As of Jun. 2024)

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What is Toyo Tire 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. Toyo Tire's annualized ROCE % for the quarter that ended in Jun. 2024 was 21.43%.

Toyo Tire ROCE % Historical Data

The historical data trend for Toyo Tire'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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Toyo Tire ROCE % Chart

Toyo Tire Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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11.46

5.16

16.05

16.90

21.34

Toyo Tire 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															34.26	18.10	25.38	21.43	12.76

Toyo Tire ROCE % Calculation

Toyo Tire'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 )
	=	97152	/	( ( (598889 - 191048)	+	(645480 - 142822) )	/ 2 )
	=	97152	/	( (407841	+	502658)	/ 2 )
	=	97152	/	455249.5
	=	21.34 %

Toyo Tire's ROCE % of for the quarter that ended in Jun. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2024 )		(Q: Mar. 2024 )		(Q: Jun. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2024 )		(Q: Mar. 2024 )		(Q: Jun. 2024 )
	=	116676	/	( ( (660455 - 132636)	+	(721039 - 159984) )	/ 2 )
	=	116676	/	( ( 527819	+	561055 )	/ 2 )
	=	116676	/	544437
	=	21.43 %

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

Toyo Tire (TSE:5105) 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.

Toyo Tire ROCE % Related Terms

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Toyo Tire Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Toyo Tire Corp (TSE:5105) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

TOTTF:USA TYR:Germany

Address

2-2-13 Fujinoki, Hyogo, Itami, JPN, 664-0847

Website

https://www.toyotires.co.jp

Toyo Tire Corp manufactures and sells tires, rubber tubes, industrial rubber, polyurethane products, and automotive parts. The majority of the company's revenue is amassed through Japanese and North American sales. Toyo Tire & Rubber's tires are developed through micro-level research and analysis. Optimal tire performance is gained through proprietary nano-level blending techniques that provide uniform polymer dispersion. Additional enhancements are gained through driving simulation and propriety T mode simulation. Simulation testing methods enable the company to monitor tire behavior and construction under various situations.

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