Enbridge (XBUL:EN3) ROCE % : 6.65% (As of Sep. 2024)

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What is Enbridge 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. Enbridge's annualized ROCE % for the quarter that ended in Sep. 2024 was 6.65%.

Enbridge ROCE % Historical Data

The historical data trend for Enbridge'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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Enbridge ROCE % Chart

Enbridge Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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6.93

4.86

7.03

4.87

7.33

Enbridge 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															4.12	8.37	6.71	8.42	6.65

Enbridge ROCE % Calculation

Enbridge'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 )
	=	16292.894	/	( ( (246244.882 - 27832.933)	+	(250331.097 - 24204.721) )	/ 2 )
	=	16292.894	/	( (218411.949	+	226126.376)	/ 2 )
	=	16292.894	/	222269.1625
	=	7.33 %

Enbridge'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 )
	=	16901.008	/	( ( (273518.106 - 22192.607)	+	(282929.672 - 26192.991) )	/ 2 )
	=	16901.008	/	( ( 251325.499	+	256736.681 )	/ 2 )
	=	16901.008	/	254031.09
	=	6.65 %

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

Enbridge (XBUL:EN3) 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.

Enbridge ROCE % Related Terms

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Enbridge Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Enbridge Inc (XBUL:EN3) » Definitions » ROCE %

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Address

425 - 1st Street South West, Suite 200, Calgary, AB, CAN, T2P 3L8

Website

https://www.enbridge.com

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

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