TD Split (TSX:TDS.PR.C.PFD) ROCE % : -3.29% (As of May. 2015)

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What is TD Split 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. TD Split's annualized ROCE % for the quarter that ended in May. 2015 was -3.29%.

TD Split ROCE % Historical Data

The historical data trend for TD Split'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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TD Split ROCE % Chart

TD Split Annual Data

Trend

Nov05

Nov06

Nov07

Nov08

Nov09

Nov10

Nov11

Nov12

Nov13

Nov14

ROCE %

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2.24

3.65

3.77

3.48

3.06

TD Split Semi-Annual Data
	May05	Nov05	May06	Nov06	Nov07	May08	Nov08	May09	Nov09	May10	Nov10	May11	Nov11	May12	Nov12	May13	Nov13	May14	Nov14	May15
ROCE %	Get a 7-Day Free Trial															3.22	3.53	15.60	-9.67	-3.29

TD Split ROCE % Calculation

TD Split's annualized ROCE % for the fiscal year that ended in Nov. 2014 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Nov. 2014 )		(A: Nov. 2013 )		(A: Nov. 2014 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Nov. 2014 )		(A: Nov. 2013 )		(A: Nov. 2014 )
	=	1.217	/	( ( (39.89 - 0.11)	+	(39.978 - 0.168) )	/ 2 )
	=	1.217	/	( (39.78	+	39.81)	/ 2 )
	=	1.217	/	39.795
	=	3.06 %

TD Split's ROCE % of for the quarter that ended in May. 2015 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: May. 2015 )		(Q: Nov. 2014 )		(Q: May. 2015 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: May. 2015 )		(Q: Nov. 2014 )		(Q: May. 2015 )
	=	-1.288	/	( ( (39.978 - 0.168)	+	(38.738 - 0.15) )	/ 2 )
	=	-1.288	/	( ( 39.81	+	38.588 )	/ 2 )
	=	-1.288	/	39.199
	=	-3.29 %

(1) Note: The EBIT data used here is two times the semi-annual (May. 2015) EBIT data.

TD Split (TSX:TDS.PR.C.PFD) 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.

TD Split ROCE % Related Terms

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TD Split Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » TD Split Inc (TSX:TDS.PR.C.PFD) » Definitions » ROCE %

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http://www.timbercreek.com

TD Split Inc., incorporated under the laws of the Province of Ontario on July 31, 2000. The Company is a closed-end mutual fund corporation mainly invests in common shares of The Toronto-Dominion Bank. The Company is a provider of advisory and capital market services and the premier provider of liquidity to corporations, governments and institutions.

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