Daiwa Office Investment (TSE:8976) ROCE % : 2.94% (As of Nov. 2023)

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What is Daiwa Office Investment 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. Daiwa Office Investment's annualized ROCE % for the quarter that ended in Nov. 2023 was 2.94%.

Daiwa Office Investment ROCE % Historical Data

The historical data trend for Daiwa Office Investment'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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Daiwa Office Investment ROCE % Chart

Daiwa Office Investment Annual Data

Trend

Nov13

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

ROCE %

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2.81

3.06

3.27

3.38

3.32

Daiwa Office Investment Semi-Annual Data
	May14	Nov14	May15	Nov15	May16	Nov16	May17	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
ROCE %	Get a 7-Day Free Trial															3.21	3.55	3.08	3.35	2.94

Daiwa Office Investment ROCE % Calculation

Daiwa Office Investment's annualized ROCE % for the fiscal year that ended in Nov. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Nov. 2022 )		(A: Nov. 2021 )		(A: Nov. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Nov. 2022 )		(A: Nov. 2021 )		(A: Nov. 2022 )
	=	14834.671	/	( ( (483279.832 - 38714.1)	+	(481049.178 - 31646.405) )	/ 2 )
	=	14834.671	/	( (444565.732	+	449402.773)	/ 2 )
	=	14834.671	/	446984.2525
	=	3.32 %

Daiwa Office Investment's ROCE % of for the quarter that ended in Nov. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Nov. 2023 )		(Q: May. 2023 )		(Q: Nov. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Nov. 2023 )		(Q: May. 2023 )		(Q: Nov. 2023 )
	=	13184.238	/	( ( (482471.082 - 32618.11)	+	(482200.822 - 36635.051) )	/ 2 )
	=	13184.238	/	( ( 449852.972	+	445565.771 )	/ 2 )
	=	13184.238	/	447709.3715
	=	2.94 %

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

Daiwa Office Investment (TSE:8976) 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.

Daiwa Office Investment ROCE % Related Terms

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Daiwa Office Investment (TSE:8976) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Daiwa Office Investment Corp (TSE:8976) » Definitions » ROCE %

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Traded in Other Exchanges

N/A

Address

6-2-1 Ginza, Chuo-ku, Tokyo, JPN

Website

https://www.daiwa-office.co.jp

Daiwa Office Investment Corp is a real estate investment trust focused on acquiring, managing, and leasing office properties located in the Five Central Wards of Tokyo. The vast majority of the company's real estate portfolio is composed of office buildings fairly evenly distributed between Tokyo's Five Central Wards in terms of total value. Daiwa derives nearly all of its income in the form of rental revenue from leasing its properties. The firm has a varied tenant base from a number of industries, including the entertainment, retail, insurance, and food and beverage companies.

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