Major Drilling Group International (TSX:MDI) ROCE % : 25.30% (As of Oct. 2023)

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What is Major Drilling Group International 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. Major Drilling Group International's annualized ROCE % for the quarter that ended in Oct. 2023 was 25.30%.

Major Drilling Group International ROCE % Historical Data

The historical data trend for Major Drilling Group International'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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Major Drilling Group International ROCE % Chart

Major Drilling Group International Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

ROCE %

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-2.39

-14.28

4.34

18.65

21.06

Major Drilling Group International Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
ROCE %	Get a 7-Day Free Trial															7.07	21.42	24.02	25.30	0.36

Major Drilling Group International ROCE % Calculation

Major Drilling Group International's annualized ROCE % for the fiscal year that ended in Apr. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Apr. 2023 )		(A: Apr. 2022 )		(A: Apr. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Apr. 2023 )		(A: Apr. 2022 )		(A: Apr. 2023 )
	=	98.586	/	( ( (557.08 - 117.739)	+	(611.685 - 114.573) )	/ 2 )
	=	98.586	/	( (439.341	+	497.112)	/ 2 )
	=	98.586	/	468.2265
	=	21.06 %

Major Drilling Group International's ROCE % of for the quarter that ended in Oct. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Oct. 2023 )		(Q: Jul. 2023 )		(Q: Oct. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Oct. 2023 )		(Q: Jul. 2023 )		(Q: Oct. 2023 )
	=	126.148	/	( ( (592.125 - 102.448)	+	(619.271 - 111.814) )	/ 2 )
	=	126.148	/	( ( 489.677	+	507.457 )	/ 2 )
	=	126.148	/	498.567
	=	25.30 %

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

Major Drilling Group International (TSX:MDI) 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.

Major Drilling Group International ROCE % Related Terms

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Major Drilling Group International (TSX:MDI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Major Drilling Group International Inc (TSX:MDI) » Definitions » ROCE %

Comparable Companies

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MJDLF:USA 3MJ:Germany

Address

111 St. George Street, Suite 100, Moncton, NB, CAN, E1C 1T7

Website

https://www.majordrilling.com

Major Drilling Group International Inc is engaged in the business of contract drilling, and it provides services to companies that are involved in mining and mineral exploration. It offers surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, and underground percussive/long-hole drilling services, as well as various drilling-related mine services. Its geographical segments are Canada - the United States; South and Central America; and Australasia and Africa, of which most of its revenue comes from Canada - the United States.

Major Drilling Group International (TSX:MDI) Headlines

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