Asia Properties (Asia Properties) ROC % : -250.85% (As of Sep. 2017)

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What is Asia Properties ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Asia Properties's annualized return on capital (ROC %) for the quarter that ended in Sep. 2017 was -250.85%.

As of today (2024-05-25), Asia Properties's WACC % is 0.00%. Asia Properties's ROC % is 0.00% (calculated using TTM income statement data). Asia Properties earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Asia Properties ROC % Historical Data

The historical data trend for Asia Properties's ROC % 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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Asia Properties ROC % Chart

Asia Properties Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

ROC %

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-26.73

-73.43

-229.57

-382.18

-38.18

Asia Properties Quarterly Data
	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17
ROC %	Get a 7-Day Free Trial															-27.12	-60.00	-208.40	-215.13	-250.85

Asia Properties ROC % Calculation

Asia Properties's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2016 is calculated as:

	ROC % (A: Dec. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2015 )	+	Invested Capital (A: Dec. 2016 ))	/ count )
=	-0.021 * ( 1 - 0% )	/	( (0.051	+	0.059)	/ 2 )
=	-0.021	/	0.055
=	-38.18 %

where

	Invested Capital		(A: Dec. 2015 )
=	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	))
=	0.001	-	0.228	-	( 0.001	-	max(0, 0.279	-	0.001	+	0.001	))
=	0.051

	Invested Capital		(A: Dec. 2016 )
=	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	-	0.251	-	( 0	-	max(0, 0.31	-	0	+	0	))
=	0.059

Asia Properties's annualized Return on Capital (ROC %) for the quarter that ended in Sep. 2017 is calculated as:

	ROC % (Q: Sep. 2017 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2017 )	+	Invested Capital (Q: Sep. 2017 ))	/ count )
=	-0.148 * ( 1 - 0% )	/	( (0.059	+	0.059)	/ 2 )
=	-0.148	/	0.059
=	-250.85 %

where

	Invested Capital		(Q: Jun. 2017 )
=	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	))
=	0.003	-	0.323	-	( 0.003	-	max(0, 0.382	-	0.003	+	0.003	))
=	0.059

	Invested Capital		(Q: Sep. 2017 )
=	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	))
=	0.002	-	0.362	-	( 0.002	-	max(0, 0.421	-	0.002	+	0.002	))
=	0.059

Note: The Operating Income data used here is four times the quarterly (Sep. 2017) data.

Asia Properties (OTCPK:ASPZ) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 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 ROC % 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, Asia Properties's WACC % is 0.00%. Asia Properties's ROC % is 0.00% (calculated using TTM income statement data). Asia Properties 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 %, ROC % 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.

Asia Properties ROC % Related Terms

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