Harmonic Drive Systems (TSE:6324) ROCE % : -1.05% (As of Dec. 2023)

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What is Harmonic Drive Systems 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. Harmonic Drive Systems's annualized ROCE % for the quarter that ended in Dec. 2023 was -1.05%.

Harmonic Drive Systems ROCE % Historical Data

The historical data trend for Harmonic Drive Systems'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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Harmonic Drive Systems ROCE % Chart

Harmonic Drive Systems Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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14.26

-0.02

0.87

7.00

7.76

Harmonic Drive Systems 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															10.48	7.00	3.34	0.27	-1.05

Harmonic Drive Systems ROCE % Calculation

Harmonic Drive Systems's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	10361.599	/	( ( (143289.918 - 14127.39)	+	(154336.246 - 16467.518) )	/ 2 )
	=	10361.599	/	( (129162.528	+	137868.728)	/ 2 )
	=	10361.599	/	133515.628
	=	7.76 %

Harmonic Drive Systems'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 )
	=	-1456.86	/	( ( (151411.258 - 11908.084)	+	(150741.89 - 11559.911) )	/ 2 )
	=	-1456.86	/	( ( 139503.174	+	139181.979 )	/ 2 )
	=	-1456.86	/	139342.5765
	=	-1.05 %

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

Harmonic Drive Systems (TSE:6324) 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.

Harmonic Drive Systems ROCE % Related Terms

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Harmonic Drive Systems (TSE:6324) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Harmonic Drive Systems Inc (TSE:6324) » Definitions » ROCE %

Comparable Companies

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HSYDF:USA K3R:Germany K3R:Germany

Address

6-25-3 Minami-Oi, Shinagawa-ku, Tokyo, JPN, 140-0013

Website

http://www.hds.co.jp

Harmonic Drive Systems manufactures and sells high-precision reduction gears (speed reducers) under the Harmonic Drive brand as well as other mechatronics products such as rotary actuators, linear actuators, and AC servo motors. The company also provides planetary-gear speed reducers under the AccuDrive and Harmonic Planetary brands. Its products are used in industrial robots, semiconductor production equipment, and other high-precision equipment. HDS was founded in 1970 and is headquartered in Tokyo.

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