PNM Resources (FRA:98P) ROCE % : -0.95% (As of Dec. 2023)

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What is PNM Resources 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. PNM Resources's annualized ROCE % for the quarter that ended in Dec. 2023 was -0.95%.

PNM Resources ROCE % Historical Data

The historical data trend for PNM Resources'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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PNM Resources ROCE % Chart

PNM Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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3.00

4.64

4.72

4.28

3.19

PNM Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															5.34	4.94	4.13	-0.95	4.07

PNM Resources ROCE % Calculation

PNM Resources's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	257.571	/	( ( (8738.964 - 840.509)	+	(9401.639 - 1128.607) )	/ 2 )
	=	257.571	/	( (7898.455	+	8273.032)	/ 2 )
	=	257.571	/	8085.7435
	=	3.19 %

PNM Resources'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 )
	=	-77.508	/	( ( (9417.638 - 1385.423)	+	(9401.639 - 1128.607) )	/ 2 )
	=	-77.508	/	( ( 8032.215	+	8273.032 )	/ 2 )
	=	-77.508	/	8152.6235
	=	-0.95 %

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

PNM Resources (FRA:98P) 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.

PNM Resources ROCE % Related Terms

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PNM Resources (FRA:98P) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » PNM Resources Inc (FRA:98P) » Definitions » ROCE %

Comparable Companies

MGEE POR IDA HE GNE VIA SUME OGE PNW EVRG NEE SO DUK LSE:NG. AEP PCG D BOM:532555 EXC PEG

Traded in Other Exchanges

PNM:USA

Address

414 Silver Avenue SW, Albuquerque, NM, USA, 87102-3289

Website

https://www.pnmresources.com

PNM Resources Inc, or PNMR, is a holding company that owns regulated utilities companies providing electricity and electric services. PNMR segments its operations by its two subsidiaries, PNM and TNMP. PNM provides electric generation, transmission, and distribution services mainly to areas of New Mexico. While PNM uses a variety of fuel sources across its power plant portfolio, its coal and gas-fueled sites produce most of the energy. TNMP owns and operates transmission and distribution services primarily in small to medium-sized communities in Texas. Both subsidiaries generate revenue for PNMR through the sale of electricity and transmission service fees fairly evenly split between residential and commercial customers. PNM generates the vast majority of PNMR's total revenue.

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