State Gas (ASX:GAS) ROCE % : -6.41% (As of Dec. 2023)

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What is State Gas 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. State Gas's annualized ROCE % for the quarter that ended in Dec. 2023 was -6.41%.

State Gas ROCE % Historical Data

The historical data trend for State Gas'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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State Gas ROCE % Chart

State Gas Annual Data

Trend

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-21.08

-27.61

-15.24

4.52

-2.95

State Gas Semi-Annual Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial								1.75	6.56	-2.26	-3.33	-6.41

State Gas ROCE % Calculation

State Gas'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 )
	=	-1.08	/	( ( (33.882 - 0.262)	+	(40.914 - 1.368) )	/ 2 )
	=	-1.08	/	( (33.62	+	39.546)	/ 2 )
	=	-1.08	/	36.583
	=	-2.95 %

State Gas'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 )
	=	-2.726	/	( ( (40.914 - 1.368)	+	(47.362 - 1.887) )	/ 2 )
	=	-2.726	/	( ( 39.546	+	45.475 )	/ 2 )
	=	-2.726	/	42.5105
	=	-6.41 %

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

State Gas (ASX:GAS) 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.

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State Gas (ASX:GAS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » State Gas Ltd (ASX:GAS) » Definitions » ROCE %

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Address

40 Edward Street, Suite 4, Level 1, Brisbane, QLD, AUS, 4000

Website

https://www.stategas.com

State Gas Ltd operates as an exploration and development of gas fields in Australia. It explores and produces liquefied natural gas. The project of the company includes Reid's Dome Conventional Gas, Santos Exploration Joint Venture and the Rolleston-West project.