Omega Oil & Gas (ASX:OMA) ROCE % : -9.39% (As of Dec. 2023)

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What is Omega 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. Omega Oil & Gas's annualized ROCE % for the quarter that ended in Dec. 2023 was -9.39%.

Omega Oil & Gas ROCE % Historical Data

The historical data trend for Omega 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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Omega Oil & Gas ROCE % Chart

Omega Oil & Gas Annual Data

Trend

Jun22

Jun23

ROCE %

-24.30

Omega Oil & Gas Semi-Annual Data
	Dec22	Jun23	Dec23
ROCE %	-17.26	-33.50	-9.39

Omega Oil & Gas ROCE % Calculation

Omega 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 )
	=	-5.039	/	( ( (19.912 - 0.362)	+	(25.414 - 3.489) )	/ 2 )
	=	-5.039	/	( (19.55	+	21.925)	/ 2 )
	=	-5.039	/	20.7375
	=	-24.30 %

Omega 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 )
	=	-2.97	/	( ( (25.414 - 3.489)	+	(41.845 - 0.489) )	/ 2 )
	=	-2.97	/	( ( 21.925	+	41.356 )	/ 2 )
	=	-2.97	/	31.6405
	=	-9.39 %

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

Omega Oil & Gas (ASX:OMA) 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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Omega Oil & Gas (ASX:OMA) Business Description

Industry

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

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Traded in Other Exchanges

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Address

25 Bligh Street, Suite 12.01, Level 12, Sydney, NSW, AUS, 2000

Website

https://www.omegaoilandgas.com.au

Omega Oil & Gas Ltd s an early mover in an emerging play within the junior oil and gas space in Australia. The company is focused on preparation for the development of Petroleum Lease 17 (PL17), located in the Bennett and Leichardt Fields and Prospect 2037 and 2038 in Queensland, Australia.

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