Tenax International SpA (MIL:TNX) ROCE % : 14.62% (As of Dec. 2023)

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What is Tenax International SpA 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. Tenax International SpA's annualized ROCE % for the quarter that ended in Dec. 2023 was 14.62%.

Tenax International SpA ROCE % Historical Data

The historical data trend for Tenax International SpA'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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Tenax International SpA ROCE % Chart

Tenax International SpA Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.43

7.47

4.39

7.77

11.54

Tenax International SpA Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial					-0.68	0.98	13.79	7.57	14.62

Tenax International SpA ROCE % Calculation

Tenax International SpA'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 )
	=	1.363	/	( ( (19.214 - 8.13)	+	(22.052 - 9.514) )	/ 2 )
	=	1.363	/	( (11.084	+	12.538)	/ 2 )
	=	1.363	/	11.811
	=	11.54 %

Tenax International SpA'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 )
	=	1.832	/	( ( (20.207 - 7.685)	+	(22.052 - 9.514) )	/ 2 )
	=	1.832	/	( ( 12.522	+	12.538 )	/ 2 )
	=	1.832	/	12.53
	=	14.62 %

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

Tenax International SpA (MIL:TNX) 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.

Tenax International SpA ROCE % Related Terms

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Tenax International SpA (MIL:TNX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Tenax International SpA (MIL:TNX) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Via Balduina 3, Rio Saliceto, ITA, 42010

Website

https://www.tenaxinternational.com

Tenax International SpA is engaged in designing and production of low-voltage electric road sweepers and street washers in Italy. The company also offers pre-owned street washers and road sweepers.

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