L3Harris Technologies (FRA:HRS) ROCE % : 2.90% (As of Dec. 2023)

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What is L3Harris Technologies 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. L3Harris Technologies's annualized ROCE % for the quarter that ended in Dec. 2023 was 2.90%.

L3Harris Technologies ROCE % Historical Data

The historical data trend for L3Harris Technologies'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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L3Harris Technologies ROCE % Chart

L3Harris Technologies Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Dec20

Dec21

Dec22

Dec23

ROCE %

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16.42

7.66

8.42

5.54

5.67

L3Harris Technologies 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															8.49	6.62	6.58	7.16	2.90

L3Harris Technologies ROCE % Calculation

L3Harris Technologies'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 )
	=	1617.588	/	( ( (31646.656 - 5452.544)	+	(38226.979 - 7339.668) )	/ 2 )
	=	1617.588	/	( (26194.112	+	30887.311)	/ 2 )
	=	1617.588	/	28540.7115
	=	5.67 %

L3Harris Technologies'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 )
	=	905.996	/	( ( (39628.541 - 7947.634)	+	(38226.979 - 7339.668) )	/ 2 )
	=	905.996	/	( ( 31680.907	+	30887.311 )	/ 2 )
	=	905.996	/	31284.109
	=	2.90 %

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

L3Harris Technologies (FRA:HRS) 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.

L3Harris Technologies ROCE % Related Terms

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L3Harris Technologies (FRA:HRS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » L3Harris Technologies Inc (FRA:HRS) » Definitions » ROCE %

Comparable Companies

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LHX:USA LHX:Mexico HRS:Germany L1HX34:Brazil

Address

1025 West NASA Boulevard, Melbourne, FL, USA, 32919

Website

https://www.l3harris.com

L3Harris Technologies provides products for the command, control, communications, computers, intelligence, surveillance, and reconnaissance, or C4ISR, market. The firm produces uncrewed aerial vehicles, sensors, and avionics, as well as provides military and commercial training services and maintains the U.S. Federal Aviation Administration's communications infrastructure. In July 2023, the company acquired Aerojet Rocketdyne, a key supplier of rocket motors to the space and defense industry.

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