ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) ROCE % : 29.44% (As of Dec. 2023)

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What is ADNOC Drilling Company PJSC 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. ADNOC Drilling Company PJSC's annualized ROCE % for the quarter that ended in Dec. 2023 was 29.44%.

ADNOC Drilling Company PJSC ROCE % Historical Data

The historical data trend for ADNOC Drilling Company PJSC'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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ADNOC Drilling Company PJSC ROCE % Chart

ADNOC Drilling Company PJSC Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.53

12.07

13.38

22.26

25.50

ADNOC Drilling Company PJSC Quarterly Data
	Dec18	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial											26.38	29.45	30.15	30.38	29.44

ADNOC Drilling Company PJSC ROCE % Calculation

ADNOC Drilling Company PJSC's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	4067.136	/	( ( (20175.475 - 8823.798)	+	(24754.922 - 4205.313) )	/ 2 )
	=	4067.136	/	( (11351.677	+	20549.609)	/ 2 )
	=	4067.136	/	15950.643
	=	25.50 %

ADNOC Drilling Company PJSC'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 )
	=	5206.692	/	( ( (23583.515 - 8755.676)	+	(24754.922 - 4205.313) )	/ 2 )
	=	5206.692	/	( ( 14827.839	+	20549.609 )	/ 2 )
	=	5206.692	/	17688.724
	=	29.44 %

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

ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) 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.

ADNOC Drilling Company PJSC ROCE % Related Terms

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ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) » Definitions » ROCE %

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Traded in Other Exchanges

N/A

Address

P.O Box 4017, Abu Dhabi, ARE

Website

https://www.adnoc.ae

ADNOC Drilling Company PJSC is engaged in providing drilling services and supporting marine equipment, and the hiring out of onshore and offshore drilling rigs on behalf of related parties involved in onshore and offshore oil and gas exploration. The operating business segments are Onshore, Offshore Jack-up, Offshore Island, and OilField Service, with maximum revenue from Onshore segment.

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