Mitsuba (TSE:7280) ROCE % : 16.30% (As of Dec. 2023)

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What is Mitsuba 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. Mitsuba's annualized ROCE % for the quarter that ended in Dec. 2023 was 16.30%.

Mitsuba ROCE % Historical Data

The historical data trend for Mitsuba'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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Mitsuba ROCE % Chart

Mitsuba Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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2.70

-1.76

3.90

3.15

3.75

Mitsuba 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															4.64	5.08	7.35	11.88	16.30

Mitsuba ROCE % Calculation

Mitsuba'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 )
	=	7981	/	( ( (342750 - 115447)	+	(328452 - 130513) )	/ 2 )
	=	7981	/	( (227303	+	197939)	/ 2 )
	=	7981	/	212621
	=	3.75 %

Mitsuba'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 )
	=	31908	/	( ( (350166 - 153429)	+	(338716 - 143936) )	/ 2 )
	=	31908	/	( ( 196737	+	194780 )	/ 2 )
	=	31908	/	195758.5
	=	16.30 %

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

Mitsuba (TSE:7280) 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.

Mitsuba ROCE % Related Terms

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Mitsuba (TSE:7280) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Mitsuba Corp (TSE:7280) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1-2681 Hirosawa-cho, Kiryu, Gunma Pref., JPN, 376-8555

Website

http://www.mitsuba.co.jp

Mitsuba Corp is a manufacturer of electrical components for automotive vehicles. The company produces front wipers, power window motors, power slide-door systems, electrical power steering motors, starter motors, and electrical oil pumps for automotive vehicles. Further, Mitsuba supplies electrical motors and components to the motorcycle, electric vehicle, and nursing-care industries. The largest end markets are Asia, with a special focus on Japan, and America.

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