Erdene Resource Development (STU:E8KA) ROCE % : -18.35% (As of Mar. 2024)

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What is Erdene Resource Development 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. Erdene Resource Development's annualized ROCE % for the quarter that ended in Mar. 2024 was -18.35%.

Erdene Resource Development ROCE % Historical Data

The historical data trend for Erdene Resource Development'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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Erdene Resource Development ROCE % Chart

Erdene Resource Development Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-11.68

-32.60

-13.09

-12.29

0.94

Erdene Resource Development 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															42.14	-17.68	-10.61	39.76	-18.35

Erdene Resource Development ROCE % Calculation

Erdene Resource Development'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 )
	=	0.358	/	( ( (36.504 - 0.616)	+	(40.37 - 0.127) )	/ 2 )
	=	0.358	/	( (35.888	+	40.243)	/ 2 )
	=	0.358	/	38.0655
	=	0.94 %

Erdene Resource Development'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 )
	=	-7.28	/	( ( (40.37 - 0.127)	+	(39.298 - 0.215) )	/ 2 )
	=	-7.28	/	( ( 40.243	+	39.083 )	/ 2 )
	=	-7.28	/	39.663
	=	-18.35 %

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

Erdene Resource Development (STU:E8KA) 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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Erdene Resource Development (STU:E8KA) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Erdene Resource Development Corp (STU:E8KA) » Definitions » ROCE %

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ERDCF:USA ERD:Canada

Address

99 Wyse Road, Metropolitan Place, Suite 1480, Dartmouth, NS, CAN, B3A 4S5

Website

https://www.erdene.com

Erdene Resource Development Corp is a Canadian-based resource exploration company. It is primarily engaged in the exploration and development of precious metals and mineral deposits in Mongolia. The company's project consists of Bayan Khundii, Altan Nar, Zuun Mod, and Khuvyn Khar. The Bayan Khundii and Altan Nar project is located within the Tian-Shan copper-gold belt in southwest Mongolia from the Chinese border city of Ceke. The Zuun Mod project is located within 200 kilometres of China's border in Mongolia's Bayankhongor Province. The Khuvyn Khar copper-silver project is located on the Zuun Mod property.

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