Metro Pacific Tollways (PHS:TOL) ROCE % : 16.21% (As of Mar. 2012)

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What is Metro Pacific Tollways 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. Metro Pacific Tollways's annualized ROCE % for the quarter that ended in Mar. 2012 was 16.21%.

Metro Pacific Tollways ROCE % Historical Data

The historical data trend for Metro Pacific Tollways'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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Metro Pacific Tollways ROCE % Chart

Metro Pacific Tollways Annual Data

Trend

Dec10

Dec11

ROCE %

9.75

11.32

Metro Pacific Tollways Quarterly Data
	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12
ROCE %	Get a 7-Day Free Trial			15.79	9.93	20.02	5.99	16.21

Metro Pacific Tollways ROCE % Calculation

Metro Pacific Tollways's annualized ROCE % for the fiscal year that ended in Dec. 2011 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2011 )		(A: Dec. 2010 )		(A: Dec. 2011 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2011 )		(A: Dec. 2010 )		(A: Dec. 2011 )
	=	1918.208	/	( ( (19329.132 - 3353.042)	+	(19479.103 - 1574.067) )	/ 2 )
	=	1918.208	/	( (15976.09	+	17905.036)	/ 2 )
	=	1918.208	/	16940.563
	=	11.32 %

Metro Pacific Tollways's ROCE % of for the quarter that ended in Mar. 2012 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2012 )		(Q: Dec. 2011 )		(Q: Mar. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2012 )		(Q: Dec. 2011 )		(Q: Mar. 2012 )
	=	2877.752	/	( ( (19479.103 - 1574.067)	+	(20216.041 - 2615.796) )	/ 2 )
	=	2877.752	/	( ( 17905.036	+	17600.245 )	/ 2 )
	=	2877.752	/	17752.6405
	=	16.21 %

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

Metro Pacific Tollways (PHS:TOL) 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.

Metro Pacific Tollways ROCE % Related Terms

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