Miyairi Valve Mfg.Co (TSE:6495) ROCE % : 4.94% (As of Dec. 2023)

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What is Miyairi Valve Mfg.Co 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. Miyairi Valve Mfg.Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 4.94%.

Miyairi Valve Mfg.Co ROCE % Historical Data

The historical data trend for Miyairi Valve Mfg.Co'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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Miyairi Valve Mfg.Co ROCE % Chart

Miyairi Valve Mfg.Co Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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-0.59

0.70

1.70

1.23

4.69

Miyairi Valve Mfg.Co 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															5.93	6.75	4.15	3.99	4.94

Miyairi Valve Mfg.Co ROCE % Calculation

Miyairi Valve Mfg.Co'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 )
	=	273.331	/	( ( (8175.469 - 2389.659)	+	(8139.61 - 2270.22) )	/ 2 )
	=	273.331	/	( (5785.81	+	5869.39)	/ 2 )
	=	273.331	/	5827.6
	=	4.69 %

Miyairi Valve Mfg.Co'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 )
	=	288.008	/	( ( (8278.921 - 2489.691)	+	(8474.149 - 2613.783) )	/ 2 )
	=	288.008	/	( ( 5789.23	+	5860.366 )	/ 2 )
	=	288.008	/	5824.798
	=	4.94 %

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

Miyairi Valve Mfg.Co (TSE:6495) 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.

Miyairi Valve Mfg.Co ROCE % Related Terms

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Miyairi Valve Mfg.Co (TSE:6495) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Miyairi Valve Mfg.Co Ltd (TSE:6495) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1-2, Ginza-Nishi, Chuo-ku, Tokyo, JPN, 104-0061

Website

http://www.miyairi-valve.co.jp

Miyairi Valve Mfg.Co Ltd operates in the liquefied petroleum gas (LPG) industry in Japan. The company is primarily engaged in the manufacturing and selling of cylinder valve for LPG, valves and equipment for other high-pressure gases, valves for other transportation and other gas equipment.

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