Evolution Mining (ASX:EVN) ROCE % : 6.04% (As of Dec. 2023)

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What is Evolution Mining 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. Evolution Mining's annualized ROCE % for the quarter that ended in Dec. 2023 was 6.04%.

Evolution Mining ROCE % Historical Data

The historical data trend for Evolution Mining'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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Evolution Mining ROCE % Chart

Evolution Mining Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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12.20

14.02

14.90

9.95

5.55

Evolution Mining 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															7.07	11.53	5.94	4.93	6.04

Evolution Mining ROCE % Calculation

Evolution Mining'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 )
	=	322.149	/	( ( (6630.066 - 861.888)	+	(6752.385 - 909.916) )	/ 2 )
	=	322.149	/	( (5768.178	+	5842.469)	/ 2 )
	=	322.149	/	5805.3235
	=	5.55 %

Evolution Mining'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 )
	=	402.156	/	( ( (6752.385 - 909.916)	+	(8248.202 - 782.785) )	/ 2 )
	=	402.156	/	( ( 5842.469	+	7465.417 )	/ 2 )
	=	402.156	/	6653.943
	=	6.04 %

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

Evolution Mining (ASX:EVN) 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.

Evolution Mining ROCE % Related Terms

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Evolution Mining (ASX:EVN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Evolution Mining Ltd (ASX:EVN) » Definitions » ROCE %

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CAHPF:USA WE7:Germany

Address

175 Liverpool Street, Level 24, Sydney, NSW, AUS, 2000

Website

https://www.evolutionmining.com.au

Evolution Mining is an Australian-based gold miner. It sold around 650,000 ounces of gold in fiscal 2023 from five wholly owned mines in Australia and Canada. Formed in 2011 via the merger of Conquest Mining and Catalpa Resources and the purchase of Newcrest Mining's Mt Rawdon and Cracow mines, Evolution has acquired more mines and sold the generally less attractive, higher-cost mines. Cowal and Mungari were bought in 2015, with an initial interest in Glencore's Ernest Henry mine following in 2016, Red Lake in Canada in 2020, and the rest of Ernest Henry in 2022. It has also agreed to buy an 80% stake in the Northparkes copper and gold mine in New South Wales, likely effective January 2024. It had roughly 13 years of gold reserves at end fiscal 2023.