Argo Gold (Argo Gold) ROCE % : -17.71% (As of Dec. 2023)

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What is Argo 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. Argo Gold's annualized ROCE % for the quarter that ended in Dec. 2023 was -17.71%.

Argo Gold ROCE % Historical Data

The historical data trend for Argo 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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Argo Gold ROCE % Chart

Argo Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-136.52

-74.08

-63.18

-103.30

-17.80

Argo Gold 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															-338.44	-77.75	-4.52	5.71	-17.71

Argo Gold ROCE % Calculation

Argo 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 )
	=	-0.107	/	( ( (0.804 - 0.352)	+	(2.068 - 1.318) )	/ 2 )
	=	-0.107	/	( (0.452	+	0.75)	/ 2 )
	=	-0.107	/	0.601
	=	-17.80 %

Argo 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 )
	=	-0.132	/	( ( (1.762 - 1.021)	+	(2.068 - 1.318) )	/ 2 )
	=	-0.132	/	( ( 0.741	+	0.75 )	/ 2 )
	=	-0.132	/	0.7455
	=	-17.71 %

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

Argo Gold (OTCPK:ARBTF) 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.

Argo Gold ROCE % Related Terms

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Argo Gold (Argo Gold) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Argo Gold Inc (OTCPK:ARBTF) » Definitions » ROCE %

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P3U:Germany ARQ:Canada

Address

350 Bay Street, Suite 700, Toronto, ON, CAN, M5H 2S6

Website

https://www.argogold.com

Argo Gold Inc is focused on gold exploration projects in central and northwestern Ontario. It is engaged in the acquisition, exploration, and development of mineral properties. Its projects include Uchi Gold Project; Woco Zone in the Uchi Gold Project, and Northgate Zone Uchi Gold Project, NW Ontario Gold Projects, Talbot Lake Gold Project, Angela Lake Gold Project, Zinc Silver Cobalt Projects, Hurdman Zinc-Silver Property, and Keelow Lake Project.

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