Matthias Hohner AG (STU:HOH) ROCE % : 11.90% (As of Sep. 2013)

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What is Matthias Hohner AG 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. Matthias Hohner AG's annualized ROCE % for the quarter that ended in Sep. 2013 was 11.90%.

Matthias Hohner AG ROCE % Historical Data

The historical data trend for Matthias Hohner AG'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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Matthias Hohner AG ROCE % Chart

Matthias Hohner AG Annual Data

Trend

Mar10

Mar11

Mar12

Mar13

ROCE %

9.14

7.84

7.69

9.54

Matthias Hohner AG Semi-Annual Data
	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13
ROCE %	Get a 7-Day Free Trial			12.67	2.47	10.64	8.81	11.90

Matthias Hohner AG ROCE % Calculation

Matthias Hohner AG's annualized ROCE % for the fiscal year that ended in Mar. 2013 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2013 )		(A: Mar. 2012 )		(A: Mar. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2013 )		(A: Mar. 2012 )		(A: Mar. 2013 )
	=	3.387	/	( ( (50.716 - 15.924)	+	(49.68 - 13.458) )	/ 2 )
	=	3.387	/	( (34.792	+	36.222)	/ 2 )
	=	3.387	/	35.507
	=	9.54 %

Matthias Hohner AG's ROCE % of for the quarter that ended in Sep. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2013 )		(Q: Mar. 2013 )		(Q: Sep. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2013 )		(Q: Mar. 2013 )		(Q: Sep. 2013 )
	=	4.356	/	( ( (49.68 - 13.458)	+	(51.878 - 14.873) )	/ 2 )
	=	4.356	/	( ( 36.222	+	37.005 )	/ 2 )
	=	4.356	/	36.6135
	=	11.90 %

(1) Note: The EBIT data used here is two times the semi-annual (Sep. 2013) EBIT data.

Matthias Hohner AG (STU:HOH) 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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Matthias Hohner AG (STU:HOH) Business Description

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Address

Website

http://www.hohner.de

Matthias Hohner AG is engaged in the production, development and distribution of musical instruments. Its range of products includes harmonicas, recorders, accordions, guitars, grand pianos, digital pianos, amplifiers, melodicas and various accessories.

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