Trinidad Drilling (TSX:TDG) ROCE % : -159.64% (As of Sep. 2018)

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What is Trinidad Drilling 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. Trinidad Drilling's annualized ROCE % for the quarter that ended in Sep. 2018 was -159.64%.

Trinidad Drilling ROCE % Historical Data

The historical data trend for Trinidad Drilling'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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Trinidad Drilling ROCE % Chart

Trinidad Drilling Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

ROCE %

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8.56

2.92

-15.12

-1.89

-5.50

Trinidad Drilling Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18
ROCE %	Get a 7-Day Free Trial															-11.58	-5.38	-4.98	-2.85	-159.64

Trinidad Drilling ROCE % Calculation

Trinidad Drilling's annualized ROCE % for the fiscal year that ended in Dec. 2017 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2017 )		(A: Dec. 2016 )		(A: Dec. 2017 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2017 )		(A: Dec. 2016 )		(A: Dec. 2017 )
	=	-101.696	/	( ( (1982.076 - 81.806)	+	(1903.773 - 107.339) )	/ 2 )
	=	-101.696	/	( (1900.27	+	1796.434)	/ 2 )
	=	-101.696	/	1848.352
	=	-5.50 %

Trinidad Drilling's ROCE % of for the quarter that ended in Sep. 2018 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2018 )		(Q: Jun. 2018 )		(Q: Sep. 2018 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2018 )		(Q: Jun. 2018 )		(Q: Sep. 2018 )
	=	-2422.34	/	( ( (1849.933 - 93.122)	+	(1368.958 - 90.97) )	/ 2 )
	=	-2422.34	/	( ( 1756.811	+	1277.988 )	/ 2 )
	=	-2422.34	/	1517.3995
	=	-159.64 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2018) EBIT data.

Trinidad Drilling (TSX:TDG) 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.

Trinidad Drilling ROCE % Related Terms

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Trinidad Drilling (TSX:TDG) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Trinidad Drilling Ltd (TSX:TDG) » Definitions » ROCE %

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Website

http://www.trinidaddrilling.com

Trinidad Drilling Ltd is a Canadian company which is engaged in providing drilling services to the oil and natural gas industry. The company's operating segments are Canadian operations which include land drilling services; US and international operations which include land and barge drilling services located in both the US and international markets, excluding all joint venture operations; Joint venture operations which include all international joint venture operations; and Manufacturing operations include manufacturing work performed in each of the Canadian and US manufacturing divisions. The majority of the company's revenue comes from oilfield services.