Tenth Avenue Petroleum (TSXV:TPC) ROCE % : -37.03% (As of Dec. 2023)

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What is Tenth Avenue Petroleum 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. Tenth Avenue Petroleum's annualized ROCE % for the quarter that ended in Dec. 2023 was -37.03%.

Tenth Avenue Petroleum ROCE % Historical Data

The historical data trend for Tenth Avenue Petroleum'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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Tenth Avenue Petroleum ROCE % Chart

Tenth Avenue Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-42.68

-13.32

32.59

-60.65

-24.92

Tenth Avenue Petroleum 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															-127.29	-17.50	-31.40	-13.31	-37.03

Tenth Avenue Petroleum ROCE % Calculation

Tenth Avenue Petroleum'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 )
	=	-1.411	/	( ( (7.068 - 0.921)	+	(5.917 - 0.74) )	/ 2 )
	=	-1.411	/	( (6.147	+	5.177)	/ 2 )
	=	-1.411	/	5.662
	=	-24.92 %

Tenth Avenue Petroleum'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 )
	=	-1.96	/	( ( (6.407 - 0.997)	+	(5.917 - 0.74) )	/ 2 )
	=	-1.96	/	( ( 5.41	+	5.177 )	/ 2 )
	=	-1.96	/	5.2935
	=	-37.03 %

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

Tenth Avenue Petroleum (TSXV:TPC) 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.

Tenth Avenue Petroleum ROCE % Related Terms

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Tenth Avenue Petroleum (TSXV:TPC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Tenth Avenue Petroleum Corp (TSXV:TPC) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

188 - 15th Avenue SW, Suite 2003, Calgary, AB, CAN, T2R 1S4

Website

https://www.tenthavenuepetroleum.com

Tenth Avenue Petroleum Corp is a junior oil and gas exploration, production and development company. It explores and develops petroleum and natural gas properties in Western Canada. The company generates its revenue from the sale of oil, natural gas and NGLs. Its property comprises oil and natural gas assets and water-well assets.

Executives

Fern Macdonald

10% Security Holder