Targa Exploration (XCNQ:TEX) ROCE % : -216.89% (As of Dec. 2023)

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What is Targa Exploration 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. Targa Exploration's annualized ROCE % for the quarter that ended in Dec. 2023 was -216.89%.

Targa Exploration ROCE % Historical Data

The historical data trend for Targa Exploration'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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Targa Exploration ROCE % Chart

Targa Exploration Annual Data

Trend

Mar20

Mar21

Mar22

ROCE %

-26.24

Targa Exploration Quarterly Data
	Mar20	Mar21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial						-75.76	-195.45	-4,324.32	-4,772.08	-216.89

Targa Exploration ROCE % Calculation

Targa Exploration's annualized ROCE % for the fiscal year that ended in Mar. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2022 )		(A: Mar. 2021 )		(A: Mar. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2022 )		(A: Mar. 2021 )		(A: Mar. 2022 )
	=	-0.177	/	( ( (0.122 - 0)	+	(1.24 - 0.013) )	/ 2 )
	=	-0.177	/	( (0.122	+	1.227)	/ 2 )
	=	-0.177	/	0.6745
	=	-26.24 %

Targa Exploration'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 )
	=	-3.288	/	( ( (1.097 - 0.266)	+	(2.895 - 0.694) )	/ 2 )
	=	-3.288	/	( ( 0.831	+	2.201 )	/ 2 )
	=	-3.288	/	1.516
	=	-216.89 %

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

Targa Exploration (XCNQ:TEX) 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.

Targa Exploration ROCE % Related Terms

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Targa Exploration (XCNQ:TEX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Targa Exploration Corp (XCNQ:TEX) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

TRGEF:USA V6Y:Germany

Address

1090 West Georgia Street, Suite 700, Vancouver, BC, CAN, V6E 3V7

Website

https://www.targaexploration.com

Targa Exploration Corp is engaged in the acquisition, exploration, and development of mineral properties in Canada and currently has an interest in the Shanghai property located in the Mayo Mining District, Yukon Territory. The projects of the company include the Opinaca lithium project, Superior lithium projects, Shanghai gold-silver project, and others.

Executives

Andrew Rockandel

Director