Comet Lithium (TSXV:CLIC) ROCE % : -9.61% (As of Sep. 2024)

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What is Comet Lithium 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. Comet Lithium's annualized ROCE % for the quarter that ended in Sep. 2024 was -9.61%.

Comet Lithium ROCE % Historical Data

The historical data trend for Comet Lithium'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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Comet Lithium ROCE % Chart

Comet Lithium Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-48.56

-35.38

-18.47

-9.92

-29.79

Comet Lithium 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															-14.04	-20.31	-24.25	-14.79	-9.61

Comet Lithium ROCE % Calculation

Comet Lithium'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 )
	=	-1.663	/	( ( (5.694 - 0.998)	+	(7.48 - 1.01) )	/ 2 )
	=	-1.663	/	( (4.696	+	6.47)	/ 2 )
	=	-1.663	/	5.583
	=	-29.79 %

Comet Lithium's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	-0.624	/	( ( (7.069 - 0.77)	+	(7.276 - 0.593) )	/ 2 )
	=	-0.624	/	( ( 6.299	+	6.683 )	/ 2 )
	=	-0.624	/	6.491
	=	-9.61 %

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

Comet Lithium (TSXV:CLIC) 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.

Comet Lithium ROCE % Related Terms

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Comet Lithium Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Comet Lithium Corp (TSXV:CLIC) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

XTRRF:USA 8QY:Germany

Address

147 Avenue Quebec, Porte Arriere, Rouyn-Noranda, QC, CAN, J9X 6M8

Website

https://www.cometlithium.com

Comet Lithium Corp is a Lithium-focused exploration entity engaged in acquiring, exploring, and developing mining properties. It has interests in properties at the exploration stage located in Canada. Its flagship asset are the Liberty Property, James Bay property, Troilus East property, and Ducran property.

Executives

Vincent Metcalfe	Director, Senior Officer
Sylvain Champagne	Director, Senior Officer
Vincent Cardin-tremblay	Senior Officer
Mansoor Jan Niazi	Senior Officer
Jordan Potts	Director

Comet Lithium Headlines

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