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ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Vantage Drilling Co's annualized return on capital (ROC %) for the quarter that ended in . 20 was 0.00%.
As of today (2024-05-15), Vantage Drilling Co's WACC % is 0.00%. Vantage Drilling Co's ROC % is 0.00% (calculated using TTM income statement data). Vantage Drilling Co earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Vantage Drilling Co'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.
Vantage Drilling Co Annual Data | |
Trend | |
ROC % |
Vantage Drilling Co Quarterly Data |
ROC % |
Vantage Drilling Co's annualized Return on Capital (ROC %) for the fiscal year that ended in . 20 is calculated as:
ROC % (A: . 20 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: . 20 ) | + | Invested Capital (A: . 20 )) | / count ) |
= | * ( 1 - % ) | / | ( ( | + | ) | / ) |
= | / | |||||
= | % |
where
Invested Capital | (A: . 20 ) | |||||||||||
= | 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 | )) |
= | - | - | ( | - | max(0, | - | + | )) | ||||
= |
Invested Capital | (A: . 20 ) | |||||||||||
= | 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 | )) |
= | - | - | ( | - | max(0, | - | + | )) | ||||
= |
Vantage Drilling Co's annualized Return on Capital (ROC %) for the quarter that ended in . 20 is calculated as:
ROC % (Q: . 20 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: . 20 ) | + | Invested Capital (Q: . 20 )) | / count ) |
= | * ( 1 - % ) | / | ( ( | + | ) | / ) |
= | / | |||||
= | % |
where
Invested Capital | (Q: . 20 ) | |||||||||||
= | 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 | )) |
= | - | - | ( | - | max(0, | - | + | )) | ||||
= |
Invested Capital | (Q: . 20 ) | |||||||||||
= | 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 | )) |
= | - | - | ( | - | max(0, | - | + | )) | ||||
= |
Note: The Operating Income data used here is four times the quarterly (. 20) data.
* 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.
Vantage Drilling Co (OTCPK:VTGDF) 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, Vantage Drilling Co's WACC % is 0.00%. Vantage Drilling Co's ROC % is 0.00% (calculated using TTM income statement data). Vantage Drilling Co 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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Steven M Bradshaw | director | 7802 OVERBROOK LANE, HOUSTON TX 77063 |
Duke R Ligon | director | 2800 WEST COUNTRY CLUB DRIVE, SUITE E, OKLAHOMA CITY OK 73116 |
Hsin-chi Su | director, 10 percent owner | C/O TMT CO., LTD. 8TH FL., NO. 126, SEC. 1, JIANGUO N. RD. TAIPEI F5 ROC |
George Esaka | director | C/O VANTAGE DRILLING COMPANY 777 POST OAK BOULEVARD, SUITE 610 HOUSTON TX 77056 |
Ong Tian Khiam | director | C/O VANTAGE DRILLING COMPANY 777 POST OAK BOULEVARD, SUITE 610 HOUSTON TX 77056 |
Oleary John C G | director | C/O TECHNIPFMC PLC, HADRIAN HOUSE, WINCOMBLEE ROAD, NEWCASTLE UPON TYNE X0 NE6 3PL |
Marcelo D Guiscardo | director | 5205 N OCONNOR BLVD, SUITE 900, IRVING TX 75039 |
Jorge E Estrada | director | 5847 SAN FELIPE ST STE 3300 HOUSTON TX 77057 |
Paul A Bragg | director, officer: Chairman & CEO | |
Douglas G Smith | officer: CFO | 5847 SAN FELIPE SUITE 3300 HOUSTON TX 77057 |
Edward G Brantley | officer: Chief Accounting Officer | 4813 ELM STREET BELLAIRE TX 77401 |
John Robert Russell | director | 6435 VANDERBILT STREET HOUSTON TX 77005 |
Christopher G Declaire | director, officer: VP & Secretary | 6435 VANDERBILT STREET HOUSTON TX 77005 |
Douglas Halkett | officer: COO | 777 POST OAK BLVD. SUITE 610 HOUSTON TX 77056 |
Steinar Thomassen | director | C/O VANTAGE DRILLING COMPANY 777 POST OAK BOULEVARD, SUITE 610 HOUSTON TX 77056 |
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