Minerals 260 (ASX:MI6) ROCE % : -65.43% (As of Dec. 2023)

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What is Minerals 260 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. Minerals 260's annualized ROCE % for the quarter that ended in Dec. 2023 was -65.43%.

Minerals 260 ROCE % Historical Data

The historical data trend for Minerals 260'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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Minerals 260 ROCE % Chart

Minerals 260 Annual Data

Trend

Jun21

Jun22

Jun23

ROCE %

-347.96

-69.73

Minerals 260 Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	-635.13	-30.18	-33.73	-107.75	-65.43

Minerals 260 ROCE % Calculation

Minerals 260's annualized ROCE % for the fiscal year that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Jun. 2023 )		(A: Jun. 2022 )		(A: Jun. 2023 )
	=	-13.91	/	( ( (23.73 - 0.51)	+	(17.524 - 0.85) )	/ 2 )
	=	-13.91	/	( (23.22	+	16.674)	/ 2 )
	=	-13.91	/	19.947
	=	-69.73 %

Minerals 260'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-10.064	/	( ( (17.524 - 0.85)	+	(14.725 - 0.636) )	/ 2 )
	=	-10.064	/	( ( 16.674	+	14.089 )	/ 2 )
	=	-10.064	/	15.3815
	=	-65.43 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Minerals 260 (ASX:MI6) 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.

Minerals 260 ROCE % Related Terms

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Minerals 260 (ASX:MI6) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Minerals 260 Ltd (ASX:MI6) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1292 Hay Street, Level 2, West Perth, WA, AUS, 6005

Website

https://www.minerals260.com.au

Minerals 260 Ltd is a mineral exploration company. The company's projects include Moora Project, Koojan JV Project, Dingo Rocks, and Yalwest.

Minerals 260 (ASX:MI6) Headlines

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