MIRAI (TSE:3476) ROCE % : 3.16% (As of Oct. 2023)

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What is MIRAI 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. MIRAI's annualized ROCE % for the quarter that ended in Oct. 2023 was 3.16%.

MIRAI ROCE % Historical Data

The historical data trend for MIRAI'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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MIRAI ROCE % Chart

MIRAI Annual Data

Trend

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

ROCE %

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3.65

3.52

3.05

3.25

3.29

MIRAI Semi-Annual Data
	May16	Apr17	Oct17	Apr18	Oct18	Apr19	Oct19	Apr20	Oct20	Apr21	Oct21	Apr22	Oct22	Apr23	Oct23
ROCE %	Get a 7-Day Free Trial										3.20	3.16	3.17	3.56	3.16

MIRAI ROCE % Calculation

MIRAI's annualized ROCE % for the fiscal year that ended in Oct. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Oct. 2023 )		(A: Oct. 2022 )		(A: Oct. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Oct. 2023 )		(A: Oct. 2022 )		(A: Oct. 2023 )
	=	5180.104	/	( ( (172792.696 - 12711.092)	+	(174746.584 - 20088.656) )	/ 2 )
	=	5180.104	/	( (160081.604	+	154657.928)	/ 2 )
	=	5180.104	/	157369.766
	=	3.29 %

MIRAI's ROCE % of for the quarter that ended in Oct. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Oct. 2023 )		(Q: Apr. 2023 )		(Q: Oct. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Oct. 2023 )		(Q: Apr. 2023 )		(Q: Oct. 2023 )
	=	4829.75	/	( ( (174479.332 - 23671.574)	+	(174746.584 - 20088.656) )	/ 2 )
	=	4829.75	/	( ( 150807.758	+	154657.928 )	/ 2 )
	=	4829.75	/	152732.843
	=	3.16 %

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

MIRAI (TSE:3476) 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.

MIRAI ROCE % Related Terms

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MIRAI (TSE:3476) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » MIRAI Corp (TSE:3476) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

837:Germany

Address

No. 2, No. 1, Nishikamada, Chiyoda-ku, Tokyo, JPN, 101-0065

Website

http://www.3476.jp

MIRAI Corp is a Japanese real estate investment trust. The company invests in diversified portfolio of real estate properties including office buildings, retail properties and hotel.

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