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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Manhattan Scientifics's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2023 was -165.71%.
As of today (2024-05-14), Manhattan Scientifics's WACC % is 8.58%. Manhattan Scientifics's ROIC % is -120.05% (calculated using TTM income statement data). Manhattan Scientifics earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Manhattan Scientifics'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.
Manhattan Scientifics Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
ROIC % | Get a 7-Day Free Trial | -48.66 | -17.23 | -14.90 | -34.04 | -110.80 |
Manhattan Scientifics Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
ROIC % | Get a 7-Day Free Trial | -64.47 | -92.36 | -119.33 | -144.00 | -165.71 |
For the Medical Devices subindustry, Manhattan Scientifics'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.
For the Medical Devices & Instruments industry and Healthcare sector, Manhattan Scientifics's ROIC % distribution charts can be found below:
* The bar in red indicates where Manhattan Scientifics's ROIC % falls into.
Manhattan Scientifics'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 ) |
= | -0.703 * ( 1 - 0% ) | / | ( (0.952 | + | 0.317) | / 2 ) |
= | -0.703 | / | 0.6345 | |||
= | -110.80 % |
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 | )) |
= | 1.031 | - | 1.558 | - | ( 0.175 | - | max(0, 1.668 | - | 0.189 | + | 0.175 | )) |
= | 0.952 |
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 | )) |
= | 0.316 | - | 2.048 | - | ( 0.067 | - | max(0, 2.118 | - | 0.069 | + | 0.067 | )) |
= | 0.317 |
Manhattan Scientifics'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: Sep. 2023 ) | + | Invested Capital (Q: Dec. 2023 )) | / count ) |
= | -0.604 * ( 1 - 0% ) | / | ( (0.412 | + | 0.317) | / 2 ) |
= | -0.604 | / | 0.3645 | |||
= | -165.71 % |
where
Invested Capital | (Q: Sep. 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 | )) |
= | 0.432 | - | 1.91 | - | ( 0.089 | - | max(0, 1.98 | - | 0.09 | + | 0.089 | )) |
= | 0.412 |
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 | )) |
= | 0.316 | - | 2.048 | - | ( 0.067 | - | max(0, 2.118 | - | 0.069 | + | 0.067 | )) |
= | 0.317 |
Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.
* 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.
Manhattan Scientifics (OTCPK:MHTX) 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, Manhattan Scientifics's WACC % is 8.58%. Manhattan Scientifics's ROIC % is -120.05% (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.
Thank you for viewing the detailed overview of Manhattan Scientifics's ROIC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Chris Theoharis | director | 405 LEXINGTON AVENUE, 26TH FLOOR, NEW YORK NY 10174 |
Photios Frank Georgiou | director | 405 LEXINGTON AVENUE, 26TH FLOOR, NEW YORK NY 10174 |
Emmanuel Tsoupanarias | director, officer: Chief Executive Officer | 405 LEXINGTON AVENUE, 26TH FLOOR, NEW YORK NY 10174 |
Leonard Friedman | director | 405 LEXINGTON AVENUE, 26TH FLOOR, NEW YORK NY 10174 |
Marvin Maslow | director, 10 percent owner, officer: Chief Executive Office | MANHATTAN SCIENTIFICS INC, 541 FIFTH AVE STE 36F, NEW YORK NY 10022 |
David Teich | director, officer: Treasurer | MANHATTAN SCIENTIFICS INC, 541 FIFTH AVE STE 36F, NEW YORK NY 10022 |
Ralph Anderson | director | 641 FIFTH AVENUE SUITE 36F, NEW YORK NY 10022 |
Larry H Schatz | director | 152 W. 57TH STREET, 31ST FLOOR, NEW YORK NY 10019 |
Marty Steinberg | 10 percent owner | 1111 BRICKELL AVENUE SUITE 2500, MIAMI FL 33131 |
Scott Bach | director, officer: Secretary | MANHATTAN SCIENTIFICS INC, 541 FIFTH AVE STE 36F, NEW YORK NY 10022 |
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