Nomura Real Estate Master Fund (TSE:3462) ROIC % : 2.59% (As of Aug. 2022)

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What is Nomura Real Estate Master Fund 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 %. Nomura Real Estate Master Fund's annualized return on invested capital (ROIC %) for the quarter that ended in Aug. 2022 was 2.59%.

As of today (2024-06-08), Nomura Real Estate Master Fund's WACC % is 0.00%. Nomura Real Estate Master Fund's ROIC % is 0.00% (calculated using TTM income statement data). Nomura Real Estate Master Fund earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Nomura Real Estate Master Fund ROIC % Historical Data

The historical data trend for Nomura Real Estate Master Fund'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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Nomura Real Estate Master Fund ROIC % Chart

Nomura Real Estate Master Fund Annual Data

Trend

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

ROIC %

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2.69

2.41

2.49

2.54

2.53

Nomura Real Estate Master Fund Semi-Annual Data
	Aug13	Feb14	Aug14	Feb15	Aug15	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb24
ROIC %	Get a 7-Day Free Trial														2.58	2.47	2.44	2.59	2.51

Competitive Comparison of Nomura Real Estate Master Fund's ROIC %

For the REIT - Retail subindustry, Nomura Real Estate Master Fund'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.

Nomura Real Estate Master Fund's ROIC % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Nomura Real Estate Master Fund's ROIC % distribution charts can be found below:

* The bar in red indicates where Nomura Real Estate Master Fund's ROIC % falls into.

Nomura Real Estate Master Fund ROIC % Calculation

Nomura Real Estate Master Fund's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Aug. 2021 is calculated as:

	ROIC % (A: Aug. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Aug. 2020 )	+	Invested Capital (A: Aug. 2021 ))	/ count )
=	30112.332 * ( 1 - 0.01% )	/	( (1187330.41	+	1188658.815)	/ 2 )
=	30109.3207668	/	1187994.6125
=	2.53 %

where

	Invested Capital		(A: Aug. 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	))
=	1197766.091	-	5558.624	-	( 62537.49	-	max(0, 72833.555	-	77710.612	+	62537.49	))
=	1187330.41

	Invested Capital		(A: Aug. 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	))
=	1192507.57	-	6309.492	-	( 50213.329	-	max(0, 67577.084	-	65116.347	+	50213.329	))
=	1188658.815

Nomura Real Estate Master Fund's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Aug. 2022 is calculated as:

	ROIC % (Q: Aug. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Feb. 2022 )	+	Invested Capital (Q: Aug. 2022 ))	/ count )
=	31169.022 * ( 1 - 0.02% )	/	( (1199842.76	+	1211034.742)	/ 2 )
=	31162.7881956	/	1205438.751
=	2.59 %

where

	Invested Capital		(Q: Feb. 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	))
=	1187420.582	-	4288.206	-	( 37690.998	-	max(0, 68902.241	-	52191.857	+	37690.998	))
=	1199842.76

	Invested Capital		(Q: Aug. 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	))
=	1187581.625	-	6307.459	-	( 31608.443	-	max(0, 76816.132	-	47055.556	+	31608.443	))
=	1211034.742

Note: The Operating Income data used here is two times the semi-annual (Aug. 2022) data.

Nomura Real Estate Master Fund (TSE:3462) 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, Nomura Real Estate Master Fund's WACC % is 0.00%. Nomura Real Estate Master Fund's ROIC % is 0.00% (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.

Nomura Real Estate Master Fund ROIC % Related Terms

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Nomura Real Estate Master Fund (TSE:3462) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Nomura Real Estate Master Fund Inc (TSE:3462) » Definitions » ROIC %

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Address

8-5-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo, JPN

Website

http://www.nomura.co.jp

Nomura Real Estate Master Fund Inc is a Japanese based company operates as a real estate investment trust. It is implementing medium- to long-term management Strategy, to achieve securing stable income over the medium to long term period, also ensures the steady growth of assets under management. The company invests in logistic facilities and commercial facilities in the Tokyo metropolitan area. It is managed by the fund manager Nomura Real Estate Asset Management Co Ltd.

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