Ashtead Group (LON:AHT) Has More To Do To Multiply In Value Going Forward [Yahoo! Finance]
ASHTED GRP PLC UNSP/ADR (ASHTY)
NASDAQ:AMEX Investor Relations:
ashtead-group.com/investorcentre/default.aspx
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Source: Yahoo! Finance
return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, the ROCE of Ashtead Group LON:AHT ) looks decent, right now, so lets see what the trend of returns can tell us. Return On Capital Employed (ROCE): What Is It? If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Ashtead Group, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.13 = US$2.6b ÷ (US$22b - US$1.9b) (Based on the trailing twelve months to July 2024) So, Ashtead Group has an ROCE of 13%. That's a relatively normal return on capital, and it's around the 14% generated by the Trade Distributors industry. Above
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