Tenaz Energy (TSX:TNZ) ROCE % : -2.34% (As of Mar. 2024)

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What is Tenaz Energy 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. Tenaz Energy's annualized ROCE % for the quarter that ended in Mar. 2024 was -2.34%.

Tenaz Energy ROCE % Historical Data

The historical data trend for Tenaz Energy'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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Tenaz Energy ROCE % Chart

Tenaz Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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6.59

-52.33

17.83

5.87

-0.20

Tenaz Energy Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															10.95	-6.83	-7.03	5.58	-2.34

Tenaz Energy ROCE % Calculation

Tenaz Energy's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-0.337	/	( ( (194.74 - 58.644)	+	(238.715 - 43.988) )	/ 2 )
	=	-0.337	/	( (136.096	+	194.727)	/ 2 )
	=	-0.337	/	165.4115
	=	-0.20 %

Tenaz Energy's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	-4.56	/	( ( (238.715 - 43.988)	+	(237.643 - 43.038) )	/ 2 )
	=	-4.56	/	( ( 194.727	+	194.605 )	/ 2 )
	=	-4.56	/	194.666
	=	-2.34 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Tenaz Energy (TSX:TNZ) 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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Tenaz Energy (TSX:TNZ) Business Description

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ATUUF:USA 7F4:Germany

Address

605 - 5th Avenue South West, Suite 2500, Calgary, AB, CAN, T2P 3H5

Website

https://www.tenazenergy.com

Tenaz Energy Corp is engaged as an energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders. It has two operating segments Canadian business unit and the Netherlands business unit, and it derives revenue from the sale of petroleum and natural gas products such as heavy crude oil, light crude and medium crude oil, natural gas, and natural gas liquids of which key revenue is derived from the sale of heavy crude oil.

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