Co-Diagnostics (LTS:0A50) ROCE % : -48.00% (As of Mar. 2024)

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What is Co-Diagnostics 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. Co-Diagnostics's annualized ROCE % for the quarter that ended in Mar. 2024 was -48.00%.

Co-Diagnostics ROCE % Historical Data

The historical data trend for Co-Diagnostics'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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Co-Diagnostics ROCE % Chart

Co-Diagnostics Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-1,119.30

120.75

42.93

-8.69

-40.91

Co-Diagnostics Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															-34.23	-43.40	-33.84	-48.98	-48.00

Co-Diagnostics ROCE % Calculation

Co-Diagnostics'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 )
	=	-42.706	/	( ( (123.086 - 3.873)	+	(95.321 - 5.748) )	/ 2 )
	=	-42.706	/	( (119.213	+	89.573)	/ 2 )
	=	-42.706	/	104.393
	=	-40.91 %

Co-Diagnostics's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	-41.036	/	( ( (95.321 - 5.748)	+	(86.671 - 5.27) )	/ 2 )
	=	-41.036	/	( ( 89.573	+	81.401 )	/ 2 )
	=	-41.036	/	85.487
	=	-48.00 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Co-Diagnostics (LTS:0A50) 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.

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Co-Diagnostics (LTS:0A50) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Co-Diagnostics Inc (LTS:0A50) » Definitions » ROCE %

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CODX:USA C97:Germany

Address

2401 South Foothill Drive, Salt Lake City, UT, USA, 84109

Website

https://www.codiagnostics.com

Co-Diagnostics Inc is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). CDI's low-cost system uses its tests to diagnose tuberculosis, Zika, hepatitis B and C, Malaria, dengue and HIV. The company's diagnostics systems enable very rapid, low-cost, sophisticated molecular testing for organisms and genetic diseases by greatly automating historically complex procedures in both the development and administration of tests.

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