Mitsuboshi Belting (TSE:5192) ROCE % : 7.35% (As of Dec. 2023)

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What is Mitsuboshi Belting 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. Mitsuboshi Belting's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.35%.

Mitsuboshi Belting ROCE % Historical Data

The historical data trend for Mitsuboshi Belting'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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Mitsuboshi Belting ROCE % Chart

Mitsuboshi Belting Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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11.11

9.57

6.97

9.49

10.04

Mitsuboshi Belting 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															9.60	7.45	12.76	8.93	7.35

Mitsuboshi Belting ROCE % Calculation

Mitsuboshi Belting's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	9865	/	( ( (118963 - 22215)	+	(121682 - 21862) )	/ 2 )
	=	9865	/	( (96748	+	99820)	/ 2 )
	=	9865	/	98284
	=	10.04 %

Mitsuboshi Belting'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 )
	=	7824	/	( ( (130858 - 22265)	+	(126668 - 22322) )	/ 2 )
	=	7824	/	( ( 108593	+	104346 )	/ 2 )
	=	7824	/	106469.5
	=	7.35 %

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

Mitsuboshi Belting (TSE:5192) 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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Mitsuboshi Belting (TSE:5192) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Mitsuboshi Belting Ltd (TSE:5192) » Definitions » ROCE %

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Traded in Other Exchanges

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Address

4 - 1 21 Hamazoe dori, Nagata ku, Hyogo-ken, JPN, 6530024

Website

http://www.mitsuboshi.co.jp

Mitsuboshi Belting Ltd is involved in the business of Power transmission belts and related products, Conveyor belts and systems and related products, Engineering plastics, Engineering structural foam, Waterproofing and Watershielding sheet, Metal nanoparticle related products. Its products include automobile and motorcycle transmission belts, general industrial transmission belts, pulleys, conveyer belts, systems, engineering plastic materials and processed products, waterproofing materials for construction etc.

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