3D Pioneer Systems (3D Pioneer Systems) ROC % : 0.00% (As of Jul. 2013)

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What is 3D Pioneer Systems ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 3D Pioneer Systems's annualized return on capital (ROC %) for the quarter that ended in Jul. 2013 was 0.00%.

As of today (2024-06-09), 3D Pioneer Systems's WACC % is 0.00%. 3D Pioneer Systems's ROC % is 0.00% (calculated using TTM income statement data). 3D Pioneer Systems earns returns that do not match up to its cost of capital. It will destroy value as it grows.

3D Pioneer Systems ROC % Historical Data

The historical data trend for 3D Pioneer Systems's ROC % 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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3D Pioneer Systems ROC % Chart

3D Pioneer Systems Annual Data

Trend

Jul12

Jul13

ROC %

3D Pioneer Systems Semi-Annual Data
	Jul12	Jul13
ROC %	-	-

3D Pioneer Systems ROC % Calculation

3D Pioneer Systems's annualized Return on Capital (ROC %) for the fiscal year that ended in Jul. 2013 is calculated as:

	ROC % (A: Jul. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Jul. 2012 )	+	Invested Capital (A: Jul. 2013 ))	/ count )
=	-0.045 * ( 1 - 0% )	/	( (0	+	0)	/ 1 )
=	-0.045	/	0
=	%

where

	Invested Capital		(A: Jul. 2012 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.02	-	0.003	-	( 0.019	-	max(0, 0.003	-	0.02	+	0.019	))
=	0

	Invested Capital		(A: Jul. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.002	-	0.003	-	( 0.002	-	max(0, 0.003	-	0.002	+	0.002	))
=	0

3D Pioneer Systems's annualized Return on Capital (ROC %) for the quarter that ended in Jul. 2013 is calculated as:

	ROC % (Q: Jul. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jul. 2012 )	+	Invested Capital (Q: Jul. 2013 ))	/ count )
=	-0.045 * ( 1 - 0% )	/	( (0	+	0)	/ 1 )
=	-0.045	/	0
=	%

where

	Invested Capital		(Q: Jul. 2012 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.02	-	0.003	-	( 0.019	-	max(0, 0.003	-	0.02	+	0.019	))
=	0

	Invested Capital		(Q: Jul. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.002	-	0.003	-	( 0.002	-	max(0, 0.003	-	0.002	+	0.002	))
=	0

Note: The Operating Income data used here is one times the annual (Jul. 2013) data.

3D Pioneer Systems (OTCPK:DPSM) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, 3D Pioneer Systems's WACC % is 0.00%. 3D Pioneer Systems's ROC % is 0.00% (calculated using TTM income statement data). 3D Pioneer Systems earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

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3D Pioneer Systems (3D Pioneer Systems) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » 3D Pioneer Systems Inc (OTCPK:DPSM) » Definitions » ROC %

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Traded in Other Exchanges

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Address

3651 Lindell Road, Suite D643, Las Vegas, NV, USA, 89103

Website

http://www.3dpioneersystemsinc.com

3D Pioneer Systems Inc is a developmental stage company and plans to operate as a diversified technology company focused on delivering true plug and play 3d printers and printer applications.

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