Comet Ridge (ASX:COI) ROCE % : -11.71% (As of Dec. 2023)

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What is Comet Ridge 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. Comet Ridge's annualized ROCE % for the quarter that ended in Dec. 2023 was -11.71%.

Comet Ridge ROCE % Historical Data

The historical data trend for Comet Ridge'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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Comet Ridge ROCE % Chart

Comet Ridge Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-5.87

-13.60

-10.75

-13.36

-5.28

Comet Ridge Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-7.14	-18.10	-5.93	-3.93	-11.71

Comet Ridge ROCE % Calculation

Comet Ridge's annualized ROCE % for the fiscal year that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	-3.65	/	( ( (109.356 - 48.288)	+	(111.362 - 34.111) )	/ 2 )
	=	-3.65	/	( (61.068	+	77.251)	/ 2 )
	=	-3.65	/	69.1595
	=	-5.28 %

Comet Ridge'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-8.756	/	( ( (111.362 - 34.111)	+	(108.894 - 36.578) )	/ 2 )
	=	-8.756	/	( ( 77.251	+	72.316 )	/ 2 )
	=	-8.756	/	74.7835
	=	-11.71 %

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

Comet Ridge (ASX:COI) 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.

Comet Ridge ROCE % Related Terms

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Comet Ridge (ASX:COI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Comet Ridge Ltd (ASX:COI) » Definitions » ROCE %

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N/A

Address

410 Queen Street, Level 3, Brisbane, QLD, AUS, 4000

Website

https://www.cometridge.com.au

Comet Ridge Ltd is an exploration company. It is engaged in the exploration and evaluation of its tenements for oil and gas reserves. The projects of the company includes Mahalo North and Mahalo Gas Project, Gunnedah, and Galilee Basin project. The projects are located in the states of Queensland and New South Wales, Australia.

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