Alumina ROCE
What is the ROCE of Alumina?
The ROCE of Alumina Limited is 0.00%
What is the definition of ROCE?
Return on capital employed (ROCE) is a financial ratio that measures a company’s profitability and the efficiency with which its capital is used.
= EBIT / (assets - current liabilities)
Return on capital employed (ROCE) is the total amount of capital that a company has utilized in order to generate profits. It is the sum of shareholders' equity and debt liabilities. It can be simplified as total assets minus current liabilities.
ROCE is especially useful when comparing the performance of companies in capital-intensive sectors. ROCE considers debt and other liabilities as well compared to other fundamentals which only analyze profitability related to a company’s common equity. This provides a better indication of financial performance for companies with significant debt. For a company, the ROCE trend over the years is also an important indicator of performance. In general, investors tend to favor companies with stable and rising ROCE numbers over companies where ROCE is volatile and bounces around from one year to the next.
Instead of using capital employed at an arbitrary point in time, analysts and investors often calculate ROCE based on the average capital employed (ROACE), which takes the average of opening and closing capital employed for the time period.
ROCE of companies in the Materials sector on ASX compared to Alumina
What does Alumina do?
Alumina Limited, through its 40% interest in Alcoa World Alumina and Chemicals, engages in bauxite mining, alumina refining, and aluminum smelting businesses. The company has a network of bauxite mines and alumina refineries in Australia, Guinea, Brazil, and Spain, and Saudi Arabia; and a 55% interest in the Portland aluminium smelter in Victoria, Australia. It is also involved in shipping operations. The company was formerly known as WMC Limited and changed its name to Alumina Limited in December 2002 as part of the demerger of the WMC Group. Alumina Limited was incorporated in 1970 and is headquartered in Southbank, Australia.
Companies with roce similar to Alumina
- Omega Alpha Spac has ROCE of -0.01%
- The Gap has ROCE of -0.01%
- Elemental Royalties Ltd has ROCE of -0.01%
- Auburn National Bancorp has ROCE of -0.01%
- Galaxy Digital has ROCE of -0.01%
- The Gap has ROCE of -0.01%
- Alumina has ROCE of 0.00%
- Tejon Ranch Co has ROCE of 0.01%
- Glen Burnie Bancorp has ROCE of 0.02%
- MSP Steel & Power has ROCE of 0.02%
- TTL Beteiligungs- und Grundbesitz-AG has ROCE of 0.03%
- First Foundation Inc has ROCE of 0.03%
- FirstMark Horizon Acquisition has ROCE of 0.03%