ROCE
Operating income relative to capital employed (equity plus long-term debt), before tax.
Formula
Operating income (TTM) ÷ (equity + long-term debt)
Served as: ttm · derived. Annual and quarterly observations are never mixed unlabeled.
Where the inputs come from
- OperatingIncomeLoss (TTM)
- StockholdersEquity + LongTermDebtNoncurrent (latest reported)
Listed highest priority first. Every served figure carries its filing, fiscal period and accession; open any value on the financials page to see them.
How to compare it honestly
Compare within the same industry; pre-tax basis makes cross-jurisdiction reads cleaner than ROIC.
When it is not served
Not meaningful when capital employed is zero or negative; shown as missing.
Missing data is missing evidence: it is never shown as zero and never treated as a conclusion.
What it cannot tell you
Ignores tax entirely and uses book values for capital employed.
Questions worth asking next
- How does the pre-tax read differ from the after-tax ROIC?
- Has capital employed changed from debt issuance or equity movements?
Research prompts, not recommendations.
See it computed from filings
Related in returns: ROE · ROA · ROIC · ROE (DuPont) · Asset turnover · Equity multiplier · Tax burden · Interest burden
Definitions are descriptive and educational. Nothing here is a guaranteed signal or personalized investment advice. How the platform computes and cites every figure.