TOWA Pharmaceutical Co (TSE:4553) ROCE % : 8.67% (As of Dec. 2023)

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What is TOWA Pharmaceutical Co 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. TOWA Pharmaceutical Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 8.67%.

TOWA Pharmaceutical Co ROCE % Historical Data

The historical data trend for TOWA Pharmaceutical Co'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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TOWA Pharmaceutical Co ROCE % Chart

TOWA Pharmaceutical Co Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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13.00

13.38

10.69

10.93

2.06

TOWA Pharmaceutical Co 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															-0.44	0.80	9.61	4.34	8.67

TOWA Pharmaceutical Co ROCE % Calculation

TOWA Pharmaceutical Co's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	5240	/	( ( (332097 - 115073)	+	(371347 - 78529) )	/ 2 )
	=	5240	/	( (217024	+	292818)	/ 2 )
	=	5240	/	254921
	=	2.06 %

TOWA Pharmaceutical Co'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 )
	=	28640	/	( ( (392919 - 69679)	+	(414685 - 76955) )	/ 2 )
	=	28640	/	( ( 323240	+	337730 )	/ 2 )
	=	28640	/	330485
	=	8.67 %

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

TOWA Pharmaceutical Co (TSE:4553) 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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TOWA Pharmaceutical Co (TSE:4553) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » TOWA Pharmaceutical Co Ltd (TSE:4553) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

2-11, Shinbashi-cho, Kadoma, Osaka, JPN, 571-8580

Website

http://www.towayakuhin.co.jp

TOWA Pharmaceutical Co Ltd is a Japan based pharmaceutical company engaged in research and development, production, and marketing of generic drugs. It also provides drug consulting services for patients and their families and relatives. It organizes academic seminars for medical professionals and posts articles in journals. It participates in training for pharmacists. The company has three main plants in operation namely Osaka plant, Okayama plant, and Yamagata plant. Towa has offers more than 500 drugs to meet the diverse therapeutic requirements including lifestyle related diseases such as hypertension and diabetes, digestive system diseases, nervous system diseases and allergic diseases, vitamins and antibiotics.

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