Covalon Technologies (Covalon Technologies) ROCE % : -31.02% (As of Dec. 2023)

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What is Covalon Technologies 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. Covalon Technologies's annualized ROCE % for the quarter that ended in Dec. 2023 was -31.02%.

Covalon Technologies ROCE % Historical Data

The historical data trend for Covalon Technologies'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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Covalon Technologies ROCE % Chart

Covalon Technologies Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

ROCE %

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-46.97

-43.84

3.55

-28.89

-19.72

Covalon Technologies Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-5.56	-11.93	-10.49	-54.16	-31.02

Covalon Technologies ROCE % Calculation

Covalon Technologies's annualized ROCE % for the fiscal year that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	-3.347	/	( ( (22.774 - 3.403)	+	(18.403 - 3.835) )	/ 2 )
	=	-3.347	/	( (19.371	+	14.568)	/ 2 )
	=	-3.347	/	16.9695
	=	-19.72 %

Covalon Technologies'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: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-4.388	/	( ( (18.403 - 3.835)	+	(16.612 - 2.885) )	/ 2 )
	=	-4.388	/	( ( 14.568	+	13.727 )	/ 2 )
	=	-4.388	/	14.1475
	=	-31.02 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Covalon Technologies (OTCPK:CVALF) 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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Covalon Technologies (Covalon Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Covalon Technologies Ltd (OTCPK:CVALF) » Definitions » ROCE %

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COV:Canada

Address

1660 Tech Avenue, Unit 5, Mississauga, ON, CAN, L4W 5S7

Website

https://www.covalon.com

Covalon Technologies Ltd is principally engaged in the business of developing, licensing, and selling medical technologies. The company develops advanced wound care line which is designed for the treatment of a wide range of wounds; and infection prevention products such as MediClear PreOp which is a breathable, transparent, self-adhesive silicone barrier film that conforms to the contours of the body. It also develops perioperative care products. The company generates its revenue through development contracts, licensing agreements, and distribution contracts, and sales.