Investors Shouldn't Overlook Qantas Airways' (ASX:QAN) Impressive Returns On Capital [Yahoo! Finance]
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QANTAS AIR LTD S/ADR NEW (QABSY)
NASDAQ:AMEX Investor Relations:
qantas.com/travel/airlines/investors/global/en
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Source: Yahoo! Finance
Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. With that in mind, the ROCE of Qantas Airways ASX:QAN ) looks great, so lets see what the trend can tell us. Understanding Return On Capital Employed (ROCE) For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Qantas Airways is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.30 = AU$2.5b ÷ (AU$19b - AU$11b) (Based on the trailing twelve months to December 2023) Thus, Qantas Airways has an ROCE of 30%. That's a fantastic return and not only that, it outpaces the average of
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