Fundo de Recuperacao Economica do Estado do Espiritonto (BSP:FRES11) ROIC %: 11.61% (As of Dec. 2011)


What is Fundo de Recuperacao Economica do Estado do Espiritonto ROIC %?

Fundo de Recuperacao Economica do Estado do Espiritonto BSP:FRES11 ROIC % is 11.61% as of Dec. 2011.

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Fundo de Recuperacao Economica do Estado do Espiritonto's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2011 was 11.61%.

As of today (2026-07-01), Fundo de Recuperacao Economica do Estado do Espiritonto's WACC % is 0.00%. Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % is 0.00% (calculated using TTM income statement data). Fundo de Recuperacao Economica do Estado do Espiritonto earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Fundo de Recuperacao Economica do Estado do Espiritonto  (BSP:FRES11) 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, Fundo de Recuperacao Economica do Estado do Espiritonto's WACC % is 0.00%. Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % is 0.00% (calculated using TTM income statement data). Fundo de Recuperacao Economica do Estado do Espiritonto earns returns that do not match up to its cost of capital. It will destroy value as it grows.

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.

Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % Related Terms

Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % Historical Data

* Premium members only.

The historical data trend for Fundo de Recuperacao Economica do Estado do Espiritonto'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.

Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % Chart

Fundo de Recuperacao Economica do Estado do Espiritonto Annual Data
Trend Dec09 Dec10 Dec11
ROIC %
0.30 5.63 11.61

Fundo de Recuperacao Economica do Estado do Espiritonto Semi-Annual Data
Dec09 Dec10 Dec11
ROIC % 0.30 5.63 11.61

Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % Competitor Comparison

For the Asset Management subindustry, Fundo de Recuperacao Economica do Estado do Espiritonto'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.

Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % distribution charts can be found below:

* The bar in red indicates where Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % falls into.


Fundo de Recuperacao Economica do Estado do Espiritonto ROIC % Calculation

Fundo de Recuperacao Economica do Estado do Espiritonto's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2011 is calculated as:

ROIC % (A: Dec. 2011 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (A: Dec. 2010 ) + Invested Capital (A: Dec. 2011 ))/ count )
=16.052 * ( 1 - 0% )/( (141.715 + 134.744)/ 2 )
=16.052/138.2295
=11.61 %

where

Invested Capital(A: Dec. 2010 )
=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))
=255.756 - 0 - ( 114.041 - max(0, 0.259 - 153.963+114.041))
=141.715

Invested Capital(A: Dec. 2011 )
=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))
=261.419 - 0 - ( 126.675 - max(0, 0.259 - 164.715+126.675))
=134.744

Fundo de Recuperacao Economica do Estado do Espiritonto's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Dec. 2011 is calculated as:

ROIC % (Q: Dec. 2011 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2010 ) + Invested Capital (Q: Dec. 2011 ))/ count )
=16.052 * ( 1 - 0% )/( (141.715 + 134.744)/ 2 )
=16.052/138.2295
=11.61 %

where

Invested Capital(Q: Dec. 2010 )
=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))
=255.756 - 0 - ( 114.041 - max(0, 0.259 - 153.963+114.041))
=141.715

Invested Capital(Q: Dec. 2011 )
=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))
=261.419 - 0 - ( 126.675 - max(0, 0.259 - 164.715+126.675))
=134.744

Note: The Operating Income data used here is one times the annual (Dec. 2011) data. The tax rate is limited to between 0% and 100%.

* 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.

Frequently Asked Questions Learn more about ROIC % →
What does a ROIC % of 11.61% mean?
Fundo de Recuperacao Economica do Estado do Espiritonto (BSP:FRES11) has a ROIC % of 11.61% as of Dec. 2011. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Fundo de Recuperacao Economica do Estado do Espiritonto and its competitors.
Is Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % too high?
Fundo de Recuperacao Economica do Estado do Espiritonto's current ROIC % is 11.61%. The Asset Management industry median ROIC % is 1.17. Fundo de Recuperacao Economica do Estado do Espiritonto's value of 11.61% is 892.3% above this industry median.
How does Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % compare to competitors?
Fundo de Recuperacao Economica do Estado do Espiritonto's ROIC % of 11.61% can be compared against companies in the Asset Management industry. The industry median ROIC % is 1.17. Fundo de Recuperacao Economica do Estado do Espiritonto's value of 11.61% is 892.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROIC % for an Asset Management company?
The median ROIC % among Asset Management companies is 1.17, based on 706 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Fundo de Recuperacao Economica do Estado do Espiritonto's current ROIC % of 11.61% is 892.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Fundo de Recuperacao Economica do Estado do Espiritonto and its competitors. For the Asset Management industry, the median ROIC % is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fundo de Recuperacao Economica do Estado do Espiritonto's current ROIC % is 11.61%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundo de Recuperacao Economica do Estado do Espiritonto stock overvalued right now?
Fundo de Recuperacao Economica do Estado do Espiritonto (BSP:FRES11) has a current ROIC % of 11.61%. The current ROIC % is 11.61% and 892.3% above the Asset Management industry median of 1.17. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROIC % calculated?
ROIC % is calculated from a company's financial statements. For Fundo de Recuperacao Economica do Estado do Espiritonto (BSP:FRES11), the current ROIC % is 11.61% as of Dec. 2011. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Fundo de Recuperacao Economica do Estado do Espiritonto Business Description

Address R. Alberto Oliveira Santos, 42 - Sala 1.506, Vitoria, ES, BRA, 29010901
Fundo de Recuperacao Economica do Estado do Espirito Santo is an open-end pension fund that collect GST and income tax based on taxable income.