Horizon Minerals (ASX:HRZ) ROCE % : 10.89% (As of Dec. 2023)

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What is Horizon Minerals 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. Horizon Minerals's annualized ROCE % for the quarter that ended in Dec. 2023 was 10.89%.

Horizon Minerals ROCE % Historical Data

The historical data trend for Horizon Minerals'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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Horizon Minerals ROCE % Chart

Horizon Minerals Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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-11.11

2.78

5.06

-52.23

-0.81

Horizon Minerals 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															11.21	-114.32	9.58	-11.83	10.89

Horizon Minerals ROCE % Calculation

Horizon Minerals'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 )
	=	-0.32	/	( ( (46.478 - 4.864)	+	(44.736 - 7.66) )	/ 2 )
	=	-0.32	/	( (41.614	+	37.076)	/ 2 )
	=	-0.32	/	39.345
	=	-0.81 %

Horizon Minerals'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 )
	=	4.122	/	( ( (44.736 - 7.66)	+	(47.113 - 8.459) )	/ 2 )
	=	4.122	/	( ( 37.076	+	38.654 )	/ 2 )
	=	4.122	/	37.865
	=	10.89 %

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

Horizon Minerals (ASX:HRZ) 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.

Horizon Minerals ROCE % Related Terms

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Horizon Minerals (ASX:HRZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Horizon Minerals Ltd (ASX:HRZ) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

163-167 Stirling Highway, Nedlands, Perth, WA, AUS, 6009

Website

https://www.horizonminerals.com.au

Horizon Minerals Ltd is engaged in the exploration, development, and mining of gold and other mineral resources in Australia. The company projects include the Teal Gold Deposit located in the north-west of Kalgoorlie in Western Australia, Anthill Gold project, Goongarrie gold projects, Binduli gold project, Blister Dam project, Nanadie Well copper-nickel project, and the Richmond vanadium project. Its operating segment includes Vanadium/ Molybdenum and Gold. The company generates maximum revenue from the Gold segment.

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