Texas Pacific Land (FRA:9WY) ROCE % : 50.33% (As of Dec. 2023)

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What is Texas Pacific Land 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. Texas Pacific Land's annualized ROCE % for the quarter that ended in Dec. 2023 was 50.33%.

Texas Pacific Land ROCE % Historical Data

The historical data trend for Texas Pacific Land'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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Texas Pacific Land ROCE % Chart

Texas Pacific Land Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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95.10

37.45

60.87

76.32

50.16

Texas Pacific Land 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															60.49	49.16	52.72	52.50	50.33

Texas Pacific Land ROCE % Calculation

Texas Pacific Land'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 )
	=	445.711	/	( ( (828.291 - 53.633)	+	(1060.417 - 57.829) )	/ 2 )
	=	445.711	/	( (774.658	+	1002.588)	/ 2 )
	=	445.711	/	888.623
	=	50.16 %

Texas Pacific Land'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 )
	=	491.008	/	( ( (1011.321 - 62.715)	+	(1060.417 - 57.829) )	/ 2 )
	=	491.008	/	( ( 948.606	+	1002.588 )	/ 2 )
	=	491.008	/	975.597
	=	50.33 %

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

Texas Pacific Land (FRA:9WY) 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.

Texas Pacific Land ROCE % Related Terms

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Texas Pacific Land (FRA:9WY) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Texas Pacific Land Corp (FRA:9WY) » Definitions » ROCE %

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TPL:USA

Address

1700 Pacific Avenue, Suite 2900, Dallas, TX, USA, 75201

Website

https://www.texaspacific.com

Texas Pacific Land Corp is mainly engaged in sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. It operates its business in two segments including Land and Resource Management and Water Service and Operations. The Land and Resource Management segment focuses on managing its oil and gas royalty interest and surface acres located in 19 different counties. The Water Service and Operations segment includes Water Sourcing, Produced Water Gathering / Treatment / Recycling, Infrastructure Development, Produced Water Disposal, Water Tracking / Analytics / Well Testing.

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