Miller Industries (Miller Industries) ROCE % : 22.11% (As of Dec. 2023)

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What is Miller Industries 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. Miller Industries's annualized ROCE % for the quarter that ended in Dec. 2023 was 22.11%.

Miller Industries ROCE % Historical Data

The historical data trend for Miller Industries'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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Miller Industries ROCE % Chart

Miller Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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20.59

14.16

8.00

9.16

21.05

Miller Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															15.10	14.67	22.48	24.42	22.11

Miller Industries ROCE % Calculation

Miller Industries'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 )
	=	79.758	/	( ( (501.429 - 156.145)	+	(647.21 - 234.714) )	/ 2 )
	=	79.758	/	( (345.284	+	412.496)	/ 2 )
	=	79.758	/	378.89
	=	21.05 %

Miller Industries'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 )
	=	89.692	/	( ( (587.406 - 188.514)	+	(647.21 - 234.714) )	/ 2 )
	=	89.692	/	( ( 398.892	+	412.496 )	/ 2 )
	=	89.692	/	405.694
	=	22.11 %

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

Miller Industries (NYSE:MLR) 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.

Miller Industries ROCE % Related Terms

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Miller Industries (Miller Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Miller Industries Inc (NYSE:MLR) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

8503 Hilltop Drive, Ooltewah, TN, USA, 37363

Website

https://www.millerind.com

Miller Industries Inc is engaged in the manufacturing of vehicle towing and recovery equipment. The company produces wreckers, car carriers, and trailer bodies under the Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface brands. The products are sold primarily in North America, Canada, and Mexico through independent distributors.

Executives

Jill Sutton	director	313 IRON HORSE WAY, PROVIDENCE RI 02908
Peter Lee Jackson	director	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Javier A Reyes	director	65 FALLING WATER LANE, MORGANTOWN WV 26508
Susan E Sweeney	director	5605 CARNEGIE BLVD. SUITE 500, CHARLOTTE NC 28209
Jeffrey I Badgley	officer: Co-CEO
Miller William G. Ii	director, officer: CEO and President	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Josias W. Reyneke	officer: Chief Information Officer	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Deborah L Whitmire	director, officer: Chief Financial Officer	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Frank Madonia	officer: Executive VP, Secretary & GC
Vincent J. Tiano	officer: Vice President and CRO	8515 CAVANAUGH LANE, HIXSON TN 37343
Jamison Linden	officer: Vice President and CMO	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Leigh Walton	director	150 THIRD AVENUE SOUTH, SUITE 2800, NASHVILLE TN 37201
Ashford Theodore H. Iii	director	909 STUART ROAD, WILMINGTON DE 19807
Richard H Roberts	director	C/O MILLER INDUSTRIES, INC., 8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Chandler A Russell Iii	director	C/O KILPATRICK STOCKTON LLP, 110 PEACHTREE STREET SUITE 2800, ATLANTA GA 30309