Kiriacoulis Mediterranean Cruises Shipping (ATH:KYRI) ROIC % : -6.87% (As of Dec. 2023)

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What is Kiriacoulis Mediterranean Cruises Shipping ROIC %?

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Kiriacoulis Mediterranean Cruises Shipping's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2023 was -6.87%.

As of today (2024-06-22), Kiriacoulis Mediterranean Cruises Shipping's WACC % is 6.06%. Kiriacoulis Mediterranean Cruises Shipping's ROIC % is -2.45% (calculated using TTM income statement data). Kiriacoulis Mediterranean Cruises Shipping earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Kiriacoulis Mediterranean Cruises Shipping ROIC % Historical Data

The historical data trend for Kiriacoulis Mediterranean Cruises Shipping's ROIC % 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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Kiriacoulis Mediterranean Cruises Shipping ROIC % Chart

Kiriacoulis Mediterranean Cruises Shipping Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROIC %

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4.12

-11.46

-3.22

-6.94

-2.68

Kiriacoulis Mediterranean Cruises Shipping Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROIC %	Get a 7-Day Free Trial															4.64	-6.31	-5.94	1.20	-6.87

Competitive Comparison of Kiriacoulis Mediterranean Cruises Shipping's ROIC %

For the Leisure subindustry, Kiriacoulis Mediterranean Cruises Shipping's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Kiriacoulis Mediterranean Cruises Shipping's ROIC % Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Kiriacoulis Mediterranean Cruises Shipping's ROIC % distribution charts can be found below:

* The bar in red indicates where Kiriacoulis Mediterranean Cruises Shipping's ROIC % falls into.

Kiriacoulis Mediterranean Cruises Shipping ROIC % Calculation

Kiriacoulis Mediterranean Cruises Shipping's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2023 is calculated as:

	ROIC % (A: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2022 )	+	Invested Capital (A: Dec. 2023 ))	/ count )
=	-0.425 * ( 1 - -72.49% )	/	( (28.081	+	26.665)	/ 2 )
=	-0.7330825	/	27.373
=	-2.68 %

where

	Invested Capital		(A: Dec. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	47.472	-	17.79	-	( 1.601	-	max(0, 21.455	-	24.969	+	1.601	))
=	28.081

	Invested Capital		(A: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	49.057	-	22.717	-	( 1.02	-	max(0, 27.021	-	26.696	+	1.02	))
=	26.665

Kiriacoulis Mediterranean Cruises Shipping's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Dec. 2023 is calculated as:

	ROIC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-1.23 * ( 1 - -72.31% )	/	( (35.003	+	26.665)	/ 2 )
=	-2.119413	/	30.834
=	-6.87 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	43.711	-	7.122	-	( 1.586	-	max(0, 17.738	-	20.973	+	1.586	))
=	35.003

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	49.057	-	22.717	-	( 1.02	-	max(0, 27.021	-	26.696	+	1.02	))
=	26.665

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

Kiriacoulis Mediterranean Cruises Shipping (ATH:KYRI) ROIC % Explanation

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROIC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Kiriacoulis Mediterranean Cruises Shipping's WACC % is 6.06%. Kiriacoulis Mediterranean Cruises Shipping's ROIC % is -2.45% (calculated using TTM income statement data).

Be Aware

Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Kiriacoulis Mediterranean Cruises Shipping ROIC % Related Terms

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Kiriacoulis Mediterranean Cruises Shipping (ATH:KYRI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Kiriacoulis Mediterranean Cruises Shipping SA (ATH:KYRI) » Definitions » ROIC %

Comparable Companies

Traded in Other Exchanges

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Address

7 Alimou Avenue, Alimos, Athens, GRC, 174 55

Website

http://www.kiriacoulis.com

Kiriacoulis Mediterranean Cruises Shipping SA is company mainly engaged in the provision of yachting services to the professional and tourist sectors. The company is along with its subsidiaries is engaged in providing Professional sea tourism through pleasure boats and yachts, Tourist ports management, and Real estate services. Geographically it operates through the yacht and customer service points, of which seven are located in Greece, six in Italy, seven in Croatia, two in Turkey, two in the Caribbean, one in France and one in Malta.

Kiriacoulis Mediterranean Cruises Shipping (ATH:KYRI) Headlines

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