United Aircraft JSC (MIC:UNAC) ROIC % : 0.60% (As of Jun. 2023)

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What is United Aircraft JSC ROIC %?

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. United Aircraft JSC's annualized return on invested capital (ROIC %) for the quarter that ended in Jun. 2023 was 0.60%.

As of today (2024-05-08), United Aircraft JSC's WACC % is 11.54%. United Aircraft JSC's ROIC % is 0.30% (calculated using TTM income statement data). United Aircraft JSC earns returns that do not match up to its cost of capital. It will destroy value as it grows.

United Aircraft JSC ROIC % Historical Data

The historical data trend for United Aircraft JSC's ROIC % 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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United Aircraft JSC ROIC % Chart

United Aircraft JSC Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

ROIC %

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4.32

1.57

0.85

4.55

10.96

United Aircraft JSC Semi-Annual Data
	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Jun23
ROIC %	Get a 7-Day Free Trial															10.92	2.08	18.30	-2.14	0.60

Competitive Comparison of United Aircraft JSC's ROIC %

For the Aerospace & Defense subindustry, United Aircraft JSC's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

United Aircraft JSC's ROIC % Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, United Aircraft JSC's ROIC % distribution charts can be found below:

* The bar in red indicates where United Aircraft JSC's ROIC % falls into.

United Aircraft JSC ROIC % Calculation

United Aircraft JSC's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2021 is calculated as:

	ROIC % (A: Dec. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2020 )	+	Invested Capital (A: Dec. 2021 ))	/ count )
=	52960 * ( 1 - -59.59% )	/	( (711181	+	831747)	/ 2 )
=	84518.864	/	771464
=	10.96 %

where

	Invested Capital		(A: Dec. 2020 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	978742	-	257772	-	( 74400	-	max(0, 812852	-	822641	+	74400	))
=	711181

	Invested Capital		(A: Dec. 2021 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1186970	-	232823	-	( 122400	-	max(0, 844603	-	1001388	+	122400	))
=	831747

United Aircraft JSC's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Jun. 2023 is calculated as:

	ROIC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	4366 * ( 1 - -48.73% )	/	( (860356	+	1288946)	/ 2 )
=	6493.5518	/	1074651
=	0.60 %

where

	Invested Capital		(Q: Jun. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1229403	-	220746	-	( 286056	-	max(0, 862466	-	1010767	+	286056	))
=	860356

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1632545	-	279175	-	( 64424	-	max(0, 748425	-	1249839	+	64424	))
=	1288946

Note: The Operating Income data used here is two times the semi-annual (Jun. 2023) data.

United Aircraft JSC (MIC:UNAC) ROIC % Explanation

ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROIC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, United Aircraft JSC's WACC % is 11.54%. United Aircraft JSC's ROIC % is 0.30% (calculated using TTM income statement data).

Be Aware

Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

United Aircraft JSC ROIC % Related Terms

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United Aircraft JSC (MIC:UNAC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » United Aircraft Corp JSC (MIC:UNAC) » Definitions » ROIC %

Comparable Companies

Traded in Other Exchanges

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Address

B. Pionerskaya street, 1, Moscow, RUS, 115054

Website

https://www.uacrussia.ru

United Aircraft Corp JSC is a Russian company engaged in designing, manufacturing, selling, operation maintenance, guarantee, and service maintenance, upgrading, repairing and utilization of civil and military aircraft for Russian and foreign governments. It has three segments, Sukhoi holding, Irkut Corporation, and Other units. Sukhoi holding, which includes the development of production of military combat aircraft as well as the development of the civil aircraft programme SSJ-100. Irkut Corporation primarily includes production of military combat aircraft as well as development training military aircraft Yak-130 and civil aircraft programme MC-21. Other units include designing and manufacturing of various types of aircraft as well as repair and maintenance of existing aircraft.

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