New Found Gold (TSXV:NFG) ROCE % : -144.70% (As of Dec. 2023)

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What is New Found Gold 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. New Found Gold's annualized ROCE % for the quarter that ended in Dec. 2023 was -144.70%.

New Found Gold ROCE % Historical Data

The historical data trend for New Found Gold'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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New Found Gold ROCE % Chart

New Found Gold Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

-44.86

-79.48

-48.64

-82.23

-107.12

New Found Gold Quarterly Data
	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														-131.80	-108.68	-104.34	-176.07	-144.70

New Found Gold ROCE % Calculation

New Found Gold'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 )
	=	-79.864	/	( ( (110.688 - 27.145)	+	(84.579 - 19.008) )	/ 2 )
	=	-79.864	/	( (83.543	+	65.571)	/ 2 )
	=	-79.864	/	74.557
	=	-107.12 %

New Found Gold'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 )
	=	-82.148	/	( ( (58.373 - 10.401)	+	(84.579 - 19.008) )	/ 2 )
	=	-82.148	/	( ( 47.972	+	65.571 )	/ 2 )
	=	-82.148	/	56.7715
	=	-144.70 %

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

New Found Gold (TSXV:NFG) 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.

New Found Gold ROCE % Related Terms

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New Found Gold (TSXV:NFG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » New Found Gold Corp (TSXV:NFG) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NFGC:USA 5QG:Germany

Address

1600 - 595 Burrard Street, Vancouver, BC, CAN, V6C 2V6

Website

https://www.newfoundgold.ca

New Found Gold Corp is a mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in the Provinces of Newfoundland and Labrador and Ontario, Canada. The Company's exploration is focused on discovering and delineating gold resources. The Company has one material property: the Queensway Project located in Newfoundland, Canada (the Queensway Project).