Cover (TSE:5253) ROCE % : 47.30% (As of Dec. 2023)

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What is Cover 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. Cover's annualized ROCE % for the quarter that ended in Dec. 2023 was 47.30%.

Cover ROCE % Historical Data

The historical data trend for Cover'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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Cover ROCE % Chart

Cover Annual Data

Trend

Mar21

Mar22

Mar23

ROCE %

75.33

64.65

64.79

Cover Quarterly Data
	Mar21	Mar22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial			-	113.79	45.98	62.30	47.30

Cover ROCE % Calculation

Cover'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 )
	=	3417.174	/	( ( (8238.121 - 4738.179)	+	(15887.009 - 8838.207) )	/ 2 )
	=	3417.174	/	( (3499.942	+	7048.802)	/ 2 )
	=	3417.174	/	5274.372
	=	64.79 %

Cover'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 )
	=	4746.932	/	( ( (17785.405 - 8234.678)	+	(18788.913 - 8268.033) )	/ 2 )
	=	4746.932	/	( ( 9550.727	+	10520.88 )	/ 2 )
	=	4746.932	/	10035.8035
	=	47.30 %

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

Cover (TSE:5253) 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.

Cover ROCE % Related Terms

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Cover (TSE:5253) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Cover Corp (TSE:5253) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

COVCF:USA

Address

1-7-17 Shiba, Sumitomo Fudosan Shiba No.3 Building B1, Minato-ku, Tokyo, JPN, 105-0014

Website

https://www.cover-corp.com

Cover Corp operates as a platformer for two-dimensional entertainment. It is engaged in developing multifaceted businesses to accelerate 2D entertainment such as distribution system development, VTuber office management, and content development.

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