Tofas Turk Otomobil Fabrikasi AS (Tofas Turk Otomobil Fabrikasi AS) ROCE % : 69.20% (As of Dec. 2023)

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What is Tofas Turk Otomobil Fabrikasi AS 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. Tofas Turk Otomobil Fabrikasi AS's annualized ROCE % for the quarter that ended in Dec. 2023 was 69.20%.

Tofas Turk Otomobil Fabrikasi AS ROCE % Historical Data

The historical data trend for Tofas Turk Otomobil Fabrikasi AS'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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Tofas Turk Otomobil Fabrikasi AS ROCE % Chart

Tofas Turk Otomobil Fabrikasi AS Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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25.25

23.74

33.42

73.71

47.27

Tofas Turk Otomobil Fabrikasi AS 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															180.10	69.60	132.19	104.02	69.20

Tofas Turk Otomobil Fabrikasi AS ROCE % Calculation

Tofas Turk Otomobil Fabrikasi AS'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 )
	=	740.377	/	( ( (3955.499 - 2305.085)	+	(2705.376 - 1223.122) )	/ 2 )
	=	740.377	/	( (1650.414	+	1482.254)	/ 2 )
	=	740.377	/	1566.334
	=	47.27 %

Tofas Turk Otomobil Fabrikasi AS'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 )
	=	820.472	/	( ( (2145.646 - 1256.734)	+	(2705.376 - 1223.122) )	/ 2 )
	=	820.472	/	( ( 888.912	+	1482.254 )	/ 2 )
	=	820.472	/	1185.583
	=	69.20 %

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

Tofas Turk Otomobil Fabrikasi AS (GREY:TTOFF) 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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Tofas Turk Otomobil Fabrikasi AS (Tofas Turk Otomobil Fabrikasi AS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Tofas Turk Otomobil Fabrikasi AS (GREY:TTOFF) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

TOASO:Turkey

Address

Buyukdere Cad. No: 145 Tofas Han, Zincirlikuyu, Istanbul, TUR, 34394

Website

https://www.tofas.com.tr

Tofas Turk Otomobil Fabrikasi AS is a Turkish automotive manufacturer of both passenger cars and light commercial vehicles. Its core business s manufacturing, exporting and selling passenger cars and light commercial vehicles under licenses of Fiat Chrysler Automobiles S.p.A. (Fiat). The company manufactures for a range of passenger cars i.e. Fiat Linea, Egea models, and others. Tofas also acts as a distributor of the Fiat, Alfa Romeo, Jeep, Lancia, Maserati, and Ferrari brands in Turkey. It also produces various automotive spare parts used in its automobiles. The company has three business divisions namely Automobile, Trading of spare parts, and Consumer finance.

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