Inmet Mining (FRA:MMC) ROCE % : 2.45% (As of Dec. 2012)

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What is Inmet Mining 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. Inmet Mining's annualized ROCE % for the quarter that ended in Dec. 2012 was 2.45%.

Inmet Mining ROCE % Historical Data

The historical data trend for Inmet Mining'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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Inmet Mining ROCE % Chart

Inmet Mining Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

ROCE %

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15.07

15.70

17.58

10.40

9.10

Inmet Mining Quarterly Data
	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12
ROCE %	Get a 7-Day Free Trial															68.92	14.39	7.17	11.52	2.45

Inmet Mining ROCE % Calculation

Inmet Mining's annualized ROCE % for the fiscal year that ended in Dec. 2012 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	340.8	/	( ( (2836.527 - 116.617)	+	(5016.907 - 244.287) )	/ 2 )
	=	340.8	/	( (2719.91	+	4772.62)	/ 2 )
	=	340.8	/	3746.265
	=	9.10 %

Inmet Mining's ROCE % of for the quarter that ended in Dec. 2012 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2012 )		(Q: Sep. 2012 )		(Q: Dec. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2012 )		(Q: Sep. 2012 )		(Q: Dec. 2012 )
	=	111.948	/	( ( (4590.613 - 229.163)	+	(5016.907 - 244.287) )	/ 2 )
	=	111.948	/	( ( 4361.45	+	4772.62 )	/ 2 )
	=	111.948	/	4567.035
	=	2.45 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2012) EBIT data.

Inmet Mining (FRA:MMC) 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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Inmet Mining (FRA:MMC) Business Description

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Inmet Mining Corporation is a Canadian-based global mining company that produces base metals with a focus on copper. It operates and develops underground and open pit mines safely, responsibly and cost effectively. The Company has three operating properties and one development property around the world. Ã‡ayeli is an underground mine on the Black Sea coast of northeastern Turkey. It produces copper and zinc concentrates, which are sold to international and domestic smelters and traders. Las Cruces is an open pit mine in southern Spain. Las Cruces uses leaching and electrowinning technology to produce copper cathode which are sold to buyers in the Spanish and Mediterranean markets. PyhÃ¤salmi is an underground copper and zinc mine in central Finland. It produces copper, zinc and pyrite concentrates. Copper and zinc concentrates are sold under long-term contracts to smelters in Finland. Pyrite is sold under contract to customers in Europe and Asia as well as in the spot market. Cobre Panama is an open pit copper development project in Panama.