Nitto Kogyo (TSE:6651) ROCE % : 14.14% (As of Dec. 2023)

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What is Nitto Kogyo 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. Nitto Kogyo's annualized ROCE % for the quarter that ended in Dec. 2023 was 14.14%.

Nitto Kogyo ROCE % Historical Data

The historical data trend for Nitto Kogyo'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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Nitto Kogyo ROCE % Chart

Nitto Kogyo Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROCE %

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12.32

12.99

9.28

7.71

10.28

Nitto Kogyo Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															8.76	7.48	10.73	14.14	8.48

Nitto Kogyo ROCE % Calculation

Nitto Kogyo's annualized ROCE % for the fiscal year that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	12280	/	( ( (135581 - 24651)	+	(161742 - 33785) )	/ 2 )
	=	12280	/	( (110930	+	127957)	/ 2 )
	=	12280	/	119443.5
	=	10.28 %

Nitto Kogyo'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 )
	=	17288	/	( ( (143059 - 24535)	+	(151928 - 25960) )	/ 2 )
	=	17288	/	( ( 118524	+	125968 )	/ 2 )
	=	17288	/	122246
	=	14.14 %

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

Nitto Kogyo (TSE:6651) 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.

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Nitto Kogyo (TSE:6651) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Nitto Kogyo Corp (TSE:6651) » Definitions » ROCE %

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Traded in Other Exchanges

6651:Japan

Address

2201, Kanihara, Nagakute-cho, Aichi County, Tokyo, JPN, 480-1189

Website

https://www.nito.co.jp

Nitto Kogyo Corp is a Japan-based company which provides a wide range of product materials, such as electric circuit panelboard powered high-pressure equipment, such as information and communications-related materials. It is engaged in manufacture and sales of electric and mechanical equipment such as high-voltage power-receiving equipment, panel boards, home panel boards, charging stations, optical junction boxes, metal enclosures, plastic enclosures, racks, breakers, switches, thermal management products, and so on. The company is also in Power Generation and sales business.

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