High Arctic Energy Services (TSX:HWO) ROCE % : 14.64% (As of Mar. 2024)

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What is High Arctic Energy Services 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. High Arctic Energy Services's annualized ROCE % for the quarter that ended in Mar. 2024 was 14.64%.

High Arctic Energy Services ROCE % Historical Data

The historical data trend for High Arctic Energy Services'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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High Arctic Energy Services ROCE % Chart

High Arctic Energy Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-2.36

-11.77

-10.31

-17.57

-13.76

High Arctic Energy Services 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															-3.38	3.93	-65.90	8.90	14.64

High Arctic Energy Services ROCE % Calculation

High Arctic Energy Services'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 )
	=	-15.885	/	( ( (133.957 - 9.817)	+	(123.137 - 16.453) )	/ 2 )
	=	-15.885	/	( (124.14	+	106.684)	/ 2 )
	=	-15.885	/	115.412
	=	-13.76 %

High Arctic Energy Services'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 )
	=	15.928	/	( ( (123.137 - 16.453)	+	(129.562 - 18.651) )	/ 2 )
	=	15.928	/	( ( 106.684	+	110.911 )	/ 2 )
	=	15.928	/	108.7975
	=	14.64 %

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

High Arctic Energy Services (TSX:HWO) 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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High Arctic Energy Services (TSX:HWO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » High Arctic Energy Services Inc (TSX:HWO) » Definitions » ROCE %

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HGHAF:USA 6LQ:Germany

Address

330 - 5th Ave SW., Suite 2350, Calgary, AB, CAN, T2P 0L4

Website

https://www.haes.ca

High Arctic Energy Services Inc is engaged in providing contract drilling, well servicing, completion services, equipment rentals, and other oilfield services to the oil and natural gas industry in Papua New Guinea and Canada. The operating segments of the company are the Drilling Services segment which consists of drilling services; the Production Services segment which consists of well servicing and snubbing services; the Ancillary Services segment which provides rental equipment, nitrogen transport services, and engineering consulting to various companies within the oil and gas sector and Corporate segment. The Production Services segment generates the company's revenue.

Executives

Douglas John Strong

Director

High Arctic Energy Services (TSX:HWO) Headlines

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