CyberAgent (TSE:4751) ROCE % : 23.35% (As of Mar. 2024)

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What is CyberAgent 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. CyberAgent's annualized ROCE % for the quarter that ended in Mar. 2024 was 23.35%.

CyberAgent ROCE % Historical Data

The historical data trend for CyberAgent'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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CyberAgent ROCE % Chart

CyberAgent Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

ROCE %

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12.65

17.26

48.58

25.37

7.58

CyberAgent 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															24.94	1.81	3.78	3.70	23.35

CyberAgent ROCE % Calculation

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

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2023 )		(A: Sep. 2022 )		(A: Sep. 2023 )
	=	22659	/	( ( (383698 - 130014)	+	(477826 - 133362) )	/ 2 )
	=	22659	/	( (253684	+	344464)	/ 2 )
	=	22659	/	299074
	=	7.58 %

CyberAgent'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 )
	=	78380	/	( ( (468681 - 132819)	+	(499775 - 164312) )	/ 2 )
	=	78380	/	( ( 335862	+	335463 )	/ 2 )
	=	78380	/	335662.5
	=	23.35 %

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

CyberAgent (TSE:4751) 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.

CyberAgent ROCE % Related Terms

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CyberAgent (TSE:4751) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » CyberAgent Inc (TSE:4751) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CYGIY:USA CYAGF:USA CL2:Germany

Address

hibuya Mark City West 1-12-1 Dogenzaka, Shibuya-Ku, Tokyo, JPN, 150-0043

Website

http://www.cyberagent.co.jp

CyberAgent is one of the top digital advertising companies in Japan. Its main business is internet advertising, which accounts for over 50% of companywide revenue. Currently, it is one of the market leaders, with about 12% market share in the digital advertisement market, alongside Dentsu with 13% and Hakuhodo with 11%. It also operates a video game segment (about 20% of total revenue) and a media segment, which is mainly Abema, an online TV program streaming site (about 20% of total revenue).

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