Avecho Biotechnology (ASX:AVE) ROCE % : -59.08% (As of Dec. 2023)

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What is Avecho Biotechnology 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. Avecho Biotechnology's annualized ROCE % for the quarter that ended in Dec. 2023 was -59.08%.

Avecho Biotechnology ROCE % Historical Data

The historical data trend for Avecho Biotechnology'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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Avecho Biotechnology ROCE % Chart

Avecho Biotechnology Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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19.80

-69.91

-93.30

-65.34

-75.39

Avecho Biotechnology Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-63.39	-36.73	-96.43	-171.94	-59.08

Avecho Biotechnology ROCE % Calculation

Avecho Biotechnology'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 )
	=	-3.421	/	( ( (3.346 - 0.746)	+	(7.319 - 0.843) )	/ 2 )
	=	-3.421	/	( (2.6	+	6.476)	/ 2 )
	=	-3.421	/	4.538
	=	-75.39 %

Avecho Biotechnology'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-2.602	/	( ( (3.922 - 1.59)	+	(7.319 - 0.843) )	/ 2 )
	=	-2.602	/	( ( 2.332	+	6.476 )	/ 2 )
	=	-2.602	/	4.404
	=	-59.08 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Avecho Biotechnology (ASX:AVE) 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.

Avecho Biotechnology ROCE % Related Terms

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Avecho Biotechnology (ASX:AVE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Avecho Biotechnology Ltd (ASX:AVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

OEZ:Germany

Address

Unit A8, 2A Westall Road, Clayton, Melbourne, VIC, AUS, 3168

Website

https://www.avecho.com.au

Avecho Biotechnology Ltd is a research-based biotechnology company engaged in the development, production, sale, and licensing of products incorporating its patented platform technology TPM, for the pharmaceutical, skincare and animal health and nutrition industries. Its segments include Production, Human Health, and other segments. The Production segment, which is the key revenue driver, manufactures and sells TPM and Vital ET for use in drug delivery and cosmetic formulations. The Human Health segment's portfolio covers the delivery of drugs through gels, injectables, and patches including the conduct of research and development activities. It focuses on the development of patches, including TPM/Oxymorphone and TPM/Oxycodone.

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