Ray (TSE:4317) ROCE % : 18.11% (As of Feb. 2024)

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What is Ray 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. Ray's annualized ROCE % for the quarter that ended in Feb. 2024 was 18.11%.

Ray ROCE % Historical Data

The historical data trend for Ray'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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Ray ROCE % Chart

Ray Annual Data

Trend

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

ROCE %

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18.68

-8.60

15.05

20.12

18.69

Ray Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
ROCE %	Get a 7-Day Free Trial															29.76	7.98	1.63	48.24	18.11

Ray ROCE % Calculation

Ray's annualized ROCE % for the fiscal year that ended in Feb. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Feb. 2024 )		(A: Feb. 2023 )		(A: Feb. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Feb. 2024 )		(A: Feb. 2023 )		(A: Feb. 2024 )
	=	1223.001	/	( ( (9582.663 - 3273.222)	+	(9399.62 - 2624.687) )	/ 2 )
	=	1223.001	/	( (6309.441	+	6774.933)	/ 2 )
	=	1223.001	/	6542.187
	=	18.69 %

Ray's ROCE % of for the quarter that ended in Feb. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	1216.776	/	( ( (9322.894 - 2658.565)	+	(9399.62 - 2624.687) )	/ 2 )
	=	1216.776	/	( ( 6664.329	+	6774.933 )	/ 2 )
	=	1216.776	/	6719.631
	=	18.11 %

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

Ray (TSE:4317) 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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Ray (TSE:4317) Business Description

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GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Ray Corp (TSE:4317) » Definitions » ROCE %

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Address

6-15-21 Roppongi, Hakus Roppongi Building, Minato-ku, Tokyo, JPN, 106-0032

Website

http://www.ray.co.jp

Ray Corp is engaged in communication design, events, creative design, and show and visual technical businesses in Japan. It is involved in the planning and production of various promotions, events, exhibitions, expositions, showrooms, printed materials, designs, premium products, and digital promotion of the Web. The company is also engaged in the rental and operation of large video equipment in the MICE and concerts.; live broadcasting, shooting, and network distribution activities; and video equipment sale and operational support to showrooms, hotel and conference facilities among other services.

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