Canadian Overseas Petroleum (XCNQ:XOP) ROCE % : -40.75% (As of Sep. 2023)

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What is Canadian Overseas Petroleum 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. Canadian Overseas Petroleum's annualized ROCE % for the quarter that ended in Sep. 2023 was -40.75%.

Canadian Overseas Petroleum ROCE % Historical Data

The historical data trend for Canadian Overseas Petroleum'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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Canadian Overseas Petroleum ROCE % Chart

Canadian Overseas Petroleum Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

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-183.75

-557.82

-34.80

-52.35

Canadian Overseas Petroleum Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
ROCE %	Get a 7-Day Free Trial															7.68	-106.04	38.28	7.90	-40.75

Canadian Overseas Petroleum ROCE % Calculation

Canadian Overseas Petroleum's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	-50.679	/	( ( (126.436 - 70.954)	+	(155.308 - 17.171) )	/ 2 )
	=	-50.679	/	( (55.482	+	138.137)	/ 2 )
	=	-50.679	/	96.8095
	=	-52.35 %

Canadian Overseas Petroleum's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	-53.652	/	( ( (157.258 - 21.611)	+	(155.375 - 27.686) )	/ 2 )
	=	-53.652	/	( ( 135.647	+	127.689 )	/ 2 )
	=	-53.652	/	131.668
	=	-40.75 %

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

Canadian Overseas Petroleum (XCNQ:XOP) 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.

Canadian Overseas Petroleum ROCE % Related Terms

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Canadian Overseas Petroleum (XCNQ:XOP) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Canadian Overseas Petroleum Ltd (XCNQ:XOP) » Definitions » ROCE %

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VELXF:USA COPL:UK V9L:Germany

Address

715 - 5th Avenue South West, Suite 3200, Calgary, AB, CAN, T2P 2X6

Website

https://www.canoverseas.com

Canadian Overseas Petroleum Ltd is an international oil and gas exploration, development and production company pursuing opportunities in the United States with operations in Converse County Wyoming, and in sub-Saharan Africa and independently in other countries. The company's Wyoming operations are environmentally responsible with minimal gas flaring and methane emissions combined with electricity sourced from a neighboring wind farm to power production facilities.

Executives