Fortune Bay (TSXV:FOR) ROCE % : -4.42% (As of Dec. 2023)

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What is Fortune Bay 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. Fortune Bay's annualized ROCE % for the quarter that ended in Dec. 2023 was -4.42%.

Fortune Bay ROCE % Historical Data

The historical data trend for Fortune Bay'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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Fortune Bay ROCE % Chart

Fortune Bay Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-3.29

-6.13

-8.84

-6.49

-5.56

Fortune Bay 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															-6.07	-5.69	-6.26	-6.10	-4.42

Fortune Bay ROCE % Calculation

Fortune Bay's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-1.299	/	( ( (23.734 - 0.198)	+	(24.105 - 0.879) )	/ 2 )
	=	-1.299	/	( (23.536	+	23.226)	/ 2 )
	=	-1.299	/	23.381
	=	-5.56 %

Fortune Bay'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 )
	=	-1.016	/	( ( (23.717 - 0.963)	+	(24.105 - 0.879) )	/ 2 )
	=	-1.016	/	( ( 22.754	+	23.226 )	/ 2 )
	=	-1.016	/	22.99
	=	-4.42 %

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

Fortune Bay (TSXV:FOR) 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.

Fortune Bay ROCE % Related Terms

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Fortune Bay (TSXV:FOR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Bay Corp (TSXV:FOR) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

FTBYF:USA 5QN:Germany

Address

1969 Upper Water Street, Suite 2001, Purdy's Wharf, Tower II, Halifax, NS, CAN, B3J 3R7

Website

https://www.fortunebaycorp.com

Fortune Bay Corp is engaged in the acquisition, exploration, and development of mineral interests. The company's properties include the Goldfields Project; Murmac Uranium Project; Ixhuatan Project and Strike Uranium Project.

Executives

Wade K. Dawe

Director, Senior Officer