SM Investments (PHS:SM) ROCE % : 13.21% (As of Dec. 2023)

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What is SM Investments 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. SM Investments's annualized ROCE % for the quarter that ended in Dec. 2023 was 13.21%.

SM Investments ROCE % Historical Data

The historical data trend for SM Investments'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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SM Investments ROCE % Chart

SM Investments Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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11.82

6.20

7.88

10.55

12.03

SM Investments 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															12.50	11.05	11.75	12.35	13.21

SM Investments ROCE % Calculation

SM Investments'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 )
	=	146901.95	/	( ( (1479425.64 - 293025.159)	+	(1586218.513 - 330761.98) )	/ 2 )
	=	146901.95	/	( (1186400.481	+	1255456.533)	/ 2 )
	=	146901.95	/	1220928.507
	=	12.03 %

SM Investments'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 )
	=	164440.32	/	( ( (1537939.215 - 303575.298)	+	(1586218.513 - 330761.98) )	/ 2 )
	=	164440.32	/	( ( 1234363.917	+	1255456.533 )	/ 2 )
	=	164440.32	/	1244910.225
	=	13.21 %

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

SM Investments (PHS:SM) 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.

SM Investments ROCE % Related Terms

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SM Investments (PHS:SM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » SM Investments Corp (PHS:SM) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

SVTMF:USA

Address

OneE-Com Center, Harbor Drive, Mall of Asia Complex, CBP-1A, 10th Floor, Pasay, PHL, 1300

Website

https://www.sminvestments.com

SM Investments Corp is a Philippines conglomerate with operations in retail, banking, and property. The retail division operates department stores and food retail stores. The property division is mainly present in Southeast Asia and is focused on malls, residences, office buildings, resorts, hotels, and convention centers. SM Banking provides financial services through BDO Unibank and China Banking Corporation. China Banking Corporation is servicing emerging companies and small- and medium-scale enterprises. BDO has diverse operations from credit cards, insurance, leasing to investment banking, and asset management. The majority of its revenue comes from the retail segment that engages in the trading of merchandise such as dry goods, wearing apparel, food, and other merchandise.