New Zealand Oil & Gas (ASX:NZO) ROCE % : 16.50% (As of Dec. 2023)

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What is New Zealand Oil & 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. New Zealand Oil & Gas's annualized ROCE % for the quarter that ended in Dec. 2023 was 16.50%.

New Zealand Oil & Gas ROCE % Historical Data

The historical data trend for New Zealand Oil & 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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New Zealand Oil & Gas ROCE % Chart

New Zealand Oil & Gas Annual Data

Trend

Jun13

Jun14

Jun15

Jun16

Jun17

Jun19

Jun20

Jun21

Jun22

Jun23

ROCE %

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0.61

2.22

-23.68

12.18

10.45

New Zealand Oil & Gas Semi-Annual Data
	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Dec18	Jun19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															13.37	11.84	9.58	11.66	16.50

New Zealand Oil & Gas ROCE % Calculation

New Zealand Oil & 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 )
	=	23.033	/	( ( (255.268 - 43.832)	+	(247.985 - 18.686) )	/ 2 )
	=	23.033	/	( (211.436	+	229.299)	/ 2 )
	=	23.033	/	220.3675
	=	10.45 %

New Zealand Oil & 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 )
	=	38.962	/	( ( (247.985 - 18.686)	+	(260.987 - 18.073) )	/ 2 )
	=	38.962	/	( ( 229.299	+	242.914 )	/ 2 )
	=	38.962	/	236.1065
	=	16.50 %

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

New Zealand Oil & Gas (ASX:NZO) 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.

New Zealand Oil & Gas ROCE % Related Terms

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New Zealand Oil & Gas (ASX:NZO) Business Description

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NZEOF:USA NZO:New Zealand

Address

36 Tennyson Street, Level 1, Wellington, NZL, 6011

Website

https://www.nzog.com

New Zealand Oil & Gas Ltd is an oil and gas exploration and production company with producing assets in New Zealand. It operates through Kupe Oil and Gas Field, Oil and Gas Exploration, and Cue Energy Resources Limited segments. The company generates maximum revenue from Cue Energy Resources Limited. It has a presence in Indonesia and Australia.

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