Nordic American Tankers (Nordic American Tankers) ROCE % : 12.58% (As of Dec. 2023)

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What is Nordic American Tankers 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. Nordic American Tankers's annualized ROCE % for the quarter that ended in Dec. 2023 was 12.58%.

Nordic American Tankers ROCE % Historical Data

The historical data trend for Nordic American Tankers'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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Nordic American Tankers ROCE % Chart

Nordic American Tankers Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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2.37

8.10

-17.21

4.85

15.99

Nordic American Tankers 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															20.13	28.81	18.33	7.76	12.58

Nordic American Tankers ROCE % Calculation

Nordic American Tankers'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 )
	=	129.209	/	( ( (879.883 - 72.414)	+	(879.196 - 70.478) )	/ 2 )
	=	129.209	/	( (807.469	+	808.718)	/ 2 )
	=	129.209	/	808.0935
	=	15.99 %

Nordic American Tankers'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 )
	=	98.832	/	( ( (836.332 - 73.424)	+	(879.196 - 70.478) )	/ 2 )
	=	98.832	/	( ( 762.908	+	808.718 )	/ 2 )
	=	98.832	/	785.813
	=	12.58 %

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

Nordic American Tankers (NYSE:NAT) 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.

Nordic American Tankers ROCE % Related Terms

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Nordic American Tankers (Nordic American Tankers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Nordic American Tankers Ltd (NYSE:NAT) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

B30:Germany B3O:Germany

Address

26 Victoria Street, Swan Building, Hamilton, BMU, HM 12

Website

https://www.nat.bm

Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has only one type of vessel - Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand.