MMG (HKSE:01208) ROCE % : 7.76% (As of Dec. 2023)

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What is MMG 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. MMG's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.76%.

MMG ROCE % Historical Data

The historical data trend for MMG'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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MMG ROCE % Chart

MMG Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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2.84

3.98

16.34

6.81

5.67

MMG Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															13.52	5.44	8.31	3.55	7.76

MMG ROCE % Calculation

MMG'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 )
	=	4478.92	/	( ( (97593.882 - 15222.793)	+	(92942.868 - 17190.932) )	/ 2 )
	=	4478.92	/	( (82371.089	+	75751.936)	/ 2 )
	=	4478.92	/	79061.5125
	=	5.67 %

MMG'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 )
	=	6074.462	/	( ( (99626.36 - 18874.397)	+	(92942.868 - 17190.932) )	/ 2 )
	=	6074.462	/	( ( 80751.963	+	75751.936 )	/ 2 )
	=	6074.462	/	78251.9495
	=	7.76 %

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

MMG (HKSE:01208) 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.

MMG ROCE % Related Terms

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MMG (HKSE:01208) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » MMG Ltd (HKSE:01208) » Definitions » ROCE %

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MMLTF:USA OMS1:Germany

Address

79 Chatham Road South, Unit 1208, 12th Floor, China Minmetals Tower, Tsimshatsui, Kowloon, Hong Kong, HKG

Website

https://www.mmg.com

MMG Ltd is engaged in the exploration, development, and mining of zinc, copper, gold, silver, and lead deposits around the world. The group has five reportable operating segments namely Dugald River, Kinsevere, Rosebery, Las Bambas, and others. Las Bambas mine is an open-pit, scalable, long-life copper and molybdenum mining operation; Kinsevere is an open-pit copper mining operation located in the Haut-Katanga Province; Dugald River mine is an underground zinc mining operation located near Cloncurry in North West Queensland; Rosebery is an underground polymetallic base metal mining operation located on Tasmania's west coast; and Other Includes corporate entities in the Group. The majority is from the Las Bambas segment. The key revenue by metal is derived from Copper.

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