{"product_id":"return-on-capital-employed","title":"Return on Capital Employed Calculator (ROCE)","description":"\u003cstyle\u003e\n.roce-calculator {\n  --ink: #0f172a;\n  --muted: #475569;\n  --border: #e2e8f0;\n  --surface: #ffffff;\n  --tint: #f8fafc;\n  --primary: #1d4ed8;\n  --accent: #c2410c;\n  --accent-hover: #9a3412;\n  --chart-1: #1e40af;\n  --chart-2: #0d9488;\n  --chart-3: #7c3aed;\n  --chart-4: #be185d;\n  --chart-5: #334155;\n  width: 100%;\n  max-width: 1200px;\n  margin: 0 auto;\n  color: var(--ink);\n  background: var(--surface);\n  font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Helvetica, Arial, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  container-type: inline-size;\n}\n.roce-calculator,\n.roce-calculator *,\n.roce-calculator *::before,\n.roce-calculator *::after { box-sizing: border-box; }\n.roce-calculator * { min-width: 0; }\n.roce-calculator h2,\n.roce-calculator h3,\n.roce-calculator p { margin-top: 0; }\n.roce-calculator a { color: var(--primary); text-underline-offset: 2px; }\n.roce-calculator a:hover { text-decoration-thickness: 2px; }\n.roce-shell { border: 1px solid var(--border); border-radius: 8px; background: var(--surface); box-shadow: 0 1px 2px rgba(15,23,42,.06); overflow: clip; }\n.roce-header { padding: 24px; border-bottom: 1px solid var(--border); background: linear-gradient(180deg, #ffffff 0%, #f8fafc 100%); }\n.roce-header h2 { margin-bottom: 8px; font-size: 24px; line-height: 1.25; font-weight: 700; letter-spacing: -.02em; }\n.roce-subtitle { margin-bottom: 16px; color: var(--muted); max-width: 780px; }\n.roce-pills { display: flex; flex-wrap: wrap; gap: 8px; }\n.roce-pill { display: inline-flex; align-items: center; gap: 8px; padding: 6px 10px; border: 1px solid var(--border); border-radius: 999px; background: var(--surface); color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-pill strong { color: var(--ink); font-variant-numeric: tabular-nums; }\n.roce-toolbar { display: flex; flex-wrap: wrap; align-items: center; gap: 12px; padding: 16px 24px; border-bottom: 1px solid var(--border); background: var(--surface); }\n.roce-button { appearance: none; min-height: 44px; border-radius: 6px; border: 1px solid var(--border); padding: 11px 18px; font: inherit; font-size: 15px; font-weight: 650; cursor: pointer; display: inline-flex; align-items: center; justify-content: center; gap: 10px; white-space: nowrap; transition: background .16s ease, border-color .16s ease, box-shadow .16s ease, transform .16s ease; }\n.roce-button:hover { box-shadow: 0 2px 6px rgba(15,23,42,.12); transform: translateY(-1px); }\n.roce-button:active { transform: translateY(0); }\n.roce-button:focus-visible,\n.roce-calculator input:focus-visible,\n.roce-calculator select:focus-visible,\n.roce-calculator summary:focus-visible { outline: 3px solid rgba(29,78,216,.28); outline-offset: 2px; }\n.roce-download { color: #fff; background: var(--accent); border-color: var(--accent); }\n.roce-download:hover { background: var(--accent-hover); border-color: var(--accent-hover); }\n.roce-reset { color: var(--ink); background: var(--surface); }\n.roce-excel-icon { width: 18px; height: 18px; flex: 0 0 18px; }\n.roce-workspace { display: grid; grid-template-columns: minmax(0, 1.02fr) minmax(0, .98fr); gap: 24px; padding: 24px; background: var(--tint); }\n.roce-card { border: 1px solid var(--border); border-radius: 8px; background: var(--surface); padding: 20px; box-shadow: 0 1px 2px rgba(15,23,42,.04); }\n.roce-card h3,\n.roce-section-title { margin-bottom: 16px; font-size: 18px; line-height: 1.35; font-weight: 650; }\n.roce-section-intro { margin: -8px 0 16px; color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-fieldset { margin: 0 0 20px; padding: 0; border: 0; }\n.roce-fieldset legend { display: block; margin-bottom: 10px; font-size: 14px; font-weight: 600; }\n.roce-segmented { display: grid; grid-template-columns: repeat(2, minmax(0,1fr)); gap: 4px; padding: 4px; border: 1px solid var(--border); border-radius: 6px; background: var(--tint); }\n.roce-segmented.roce-segmented-three { grid-template-columns: repeat(3, minmax(0,1fr)); }\n.roce-segmented label { position: relative; cursor: pointer; }\n.roce-segmented input { position: absolute; opacity: 0; pointer-events: none; }\n.roce-segmented span { min-height: 44px; display: flex; align-items: center; justify-content: center; padding: 8px; border-radius: 4px; color: var(--muted); font-size: 13px; font-weight: 650; text-align: center; }\n.roce-segmented input:checked + span { color: var(--ink); background: var(--surface); box-shadow: 0 1px 2px rgba(15,23,42,.12); }\n.roce-segmented input:focus-visible + span { outline: 3px solid rgba(29,78,216,.28); outline-offset: 1px; }\n.roce-input-grid { display: grid; grid-template-columns: repeat(2, minmax(0,1fr)); gap: 16px; align-items: start; }\n.roce-field { display: flex; flex-direction: column; gap: 7px; }\n.roce-field label { font-size: 14px; font-weight: 600; }\n.roce-control { width: 100%; min-height: 44px; border: 1px solid #cbd5e1; border-radius: 6px; background: var(--surface); color: var(--ink); padding: 10px 12px; font: inherit; font-size: 15px; font-variant-numeric: tabular-nums; }\n.roce-control:hover { border-color: #94a3b8; }\n.roce-helper { min-height: 40px; color: var(--muted); font-size: 13px; font-weight: 500; line-height: 1.45; }\n.roce-error { min-height: 19px; color: #b91c1c; font-size: 13px; font-weight: 600; }\n.roce-hidden { display: none !important; }\n.roce-results { display: flex; flex-direction: column; gap: 16px; }\n.roce-primary-result { padding: 20px; border-radius: 8px; color: #fff; background: var(--ink); }\n.roce-primary-label { display: block; margin-bottom: 8px; font-size: 13px; font-weight: 600; color: #cbd5e1; }\n.roce-primary-value { display: block; font-size: 30px; line-height: 1.2; font-weight: 700; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n.roce-primary-note { margin: 8px 0 0; color: #e2e8f0; font-size: 13px; font-weight: 500; }\n.roce-result-grid { display: grid; grid-template-columns: repeat(2, minmax(0,1fr)); gap: 12px; }\n.roce-result-card { border: 1px solid var(--border); border-radius: 8px; padding: 16px; background: var(--surface); }\n.roce-result-card span { display: block; color: var(--muted); font-size: 13px; font-weight: 600; }\n.roce-result-card strong { display: block; margin-top: 6px; font-size: 20px; line-height: 1.3; font-weight: 700; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n.roce-result-card small { display: block; margin-top: 6px; color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-status { border: 1px solid #bfdbfe; border-radius: 6px; padding: 12px; background: #eff6ff; color: #1e3a8a; font-size: 13px; font-weight: 600; }\n.roce-status.roce-status-negative { border-color: #fecaca; background: #fef2f2; color: #991b1b; }\n.roce-status.roce-status-neutral { border-color: var(--border); background: var(--tint); color: var(--muted); }\n.roce-section { padding: 24px; border-top: 1px solid var(--border); }\n.roce-section:nth-of-type(even) { background: var(--tint); }\n.roce-chart-grid { display: grid; grid-template-columns: repeat(2, minmax(0,1fr)); gap: 24px; }\n.roce-chart-card { border: 1px solid var(--border); border-radius: 8px; background: var(--surface); padding: 20px; display: flex; flex-direction: column; gap: 16px; min-height: 0; }\n.roce-chart-card h3 { margin: 0; }\n.roce-chart-interpretation { margin: -8px 0 0; color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-chart-cluster { display: grid; grid-template-columns: minmax(220px, 300px) max-content; justify-content: center; align-items: center; gap: 24px; }\n.roce-plot { width: 100%; display: flex; align-items: center; justify-content: center; min-height: 250px; }\n.roce-plot svg { display: block; width: 100%; height: auto; max-height: 320px; overflow: visible; }\n.roce-legend { display: grid; gap: 10px; align-content: center; }\n.roce-legend-row { display: grid; grid-template-columns: 12px minmax(90px,max-content) max-content max-content; align-items: center; gap: 10px; font-size: 13px; font-weight: 500; }\n.roce-swatch { width: 12px; height: 12px; border-radius: 3px; }\n.roce-legend-label { color: var(--ink); }\n.roce-legend-value,\n.roce-legend-percent { color: var(--muted); font-variant-numeric: tabular-nums; white-space: nowrap; }\n.roce-chart-callout { margin-top: 16px; border: 1px solid var(--border); border-radius: 6px; padding: 10px 12px; background: var(--tint); color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-chart-empty { display: flex; align-items: center; justify-content: center; min-height: 112px; border: 1px dashed #cbd5e1; border-radius: 6px; padding: 16px; color: var(--muted); background: var(--tint); text-align: center; font-size: 13px; font-weight: 600; }\n.roce-safe-stack .roce-chart-cluster { grid-template-columns: minmax(0,1fr); justify-items: center; gap: 16px; }\n.roce-safe-stack .roce-legend { width: min(100%, 420px); }\n.roce-safe-stack .roce-chart-callout { margin-top: 20px; }\n.roce-bar-card { grid-column: 1 \/ -1; }\n.roce-bar-card .roce-chart-cluster { grid-template-columns: minmax(0, 700px); }\n.roce-bar-card .roce-legend { grid-auto-flow: column; justify-content: center; }\n.roce-table-wrap { width: 100%; overflow-x: auto; border: 1px solid var(--border); border-radius: 6px; background: var(--surface); }\n.roce-table { width: 100%; min-width: 680px; border-collapse: collapse; font-size: 14px; font-variant-numeric: tabular-nums; }\n.roce-table th,\n.roce-table td { padding: 12px 14px; border-bottom: 1px solid var(--border); vertical-align: top; text-align: left; }\n.roce-table th { color: #fff; background: var(--ink); font-weight: 650; }\n.roce-table tr:last-child td { border-bottom: 0; }\n.roce-table td.roce-num { text-align: right; white-space: nowrap; }\n.roce-table-note { margin-top: 16px; border: 1px solid var(--border); border-radius: 6px; padding: 10px 12px; background: var(--tint); color: var(--muted); font-size: 13px; font-weight: 500; }\n.roce-safe-table-stack .roce-table-note { margin-top: 20px; }\n.roce-education { padding: 32px 24px; border-top: 1px solid var(--border); }\n.roce-education-inner { max-width: 860px; }\n.roce-education h2 { margin: 28px 0 10px; font-size: 20px; line-height: 1.35; font-weight: 700; }\n.roce-education h2:first-child { margin-top: 0; }\n.roce-education h3 { margin: 20px 0 8px; font-size: 16px; line-height: 1.4; font-weight: 700; }\n.roce-education p { margin-bottom: 12px; color: #334155; }\n.roce-formula { border-left: 4px solid var(--primary); border-radius: 0 6px 6px 0; padding: 12px 16px; background: #eff6ff; color: #1e3a8a; font-weight: 650; font-variant-numeric: tabular-nums; }\n.roce-sr-only { position: absolute !important; width: 1px !important; height: 1px !important; padding: 0 !important; margin: -1px !important; overflow: hidden !important; clip: rect(0,0,0,0) !important; white-space: nowrap !important; border: 0 !important; }\n@container (max-width: 899px) {\n  .roce-workspace { grid-template-columns: minmax(0,1fr); }\n  .roce-chart-grid { grid-template-columns: minmax(0,1fr); }\n  .roce-bar-card { grid-column: auto; }\n}\n@container (max-width: 639px) {\n  .roce-header,\n  .roce-toolbar,\n  .roce-workspace,\n  .roce-section,\n  .roce-education { padding-left: 16px; padding-right: 16px; }\n  .roce-input-grid,\n  .roce-result-grid { grid-template-columns: minmax(0,1fr); }\n  .roce-chart-cluster { grid-template-columns: minmax(0,1fr); justify-items: center; gap: 16px; }\n  .roce-legend { width: min(100%, 420px); }\n  .roce-bar-card .roce-legend { grid-auto-flow: row; }\n  .roce-segmented.roce-segmented-three { grid-template-columns: minmax(0,1fr); }\n  .roce-plot { min-height: 220px; }\n  .roce-chart-callout { margin-top: 12px; }\n  .roce-table-note { margin-top: 12px; }\n}\n@media (max-width: 899px) {\n  .roce-workspace { grid-template-columns: minmax(0,1fr); }\n  .roce-chart-grid { grid-template-columns: minmax(0,1fr); }\n  .roce-bar-card { grid-column: auto; }\n}\n@media (max-width: 639px) {\n  .roce-header,\n  .roce-toolbar,\n  .roce-workspace,\n  .roce-section,\n  .roce-education { padding-left: 16px; padding-right: 16px; }\n  .roce-input-grid,\n  .roce-result-grid { grid-template-columns: minmax(0,1fr); }\n  .roce-chart-cluster { grid-template-columns: minmax(0,1fr); justify-items: center; gap: 16px; }\n  .roce-legend { width: min(100%, 420px); }\n  .roce-bar-card .roce-legend { grid-auto-flow: row; }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"roce-calculator\" data-calculator-root\u003e\n  \u003cdiv class=\"roce-shell\"\u003e\n    \u003cheader class=\"roce-header\"\u003e\n      \u003ch2\u003eReturn on Capital Employed Calculator\u003c\/h2\u003e\n      \u003cp class=\"roce-subtitle\"\u003eMeasure how efficiently a company converts long-term operating capital into earnings before interest and tax, with two equivalent balance-sheet methods.\u003c\/p\u003e\n      \u003cdiv class=\"roce-pills\" aria-label=\"Live calculation summary\"\u003e\n        \u003cspan class=\"roce-pill\"\u003eMethod \u003cstrong data-pill-method\u003eAssets less current liabilities\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"roce-pill\"\u003eROCE \u003cstrong data-pill-roce\u003e11.21%\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"roce-pill\"\u003eCapital employed \u003cstrong data-pill-capital\u003e$7,499,902.00\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"roce-pill\"\u003eSpread \u003cstrong data-pill-spread\u003e2.71 pp\u003c\/strong\u003e\u003c\/span\u003e\n      \u003c\/div\u003e\n    \u003c\/header\u003e\n    \u003cdiv class=\"roce-toolbar\"\u003e\n      \u003cbutton class=\"roce-button roce-download\" type=\"button\" data-download\u003e\n        \u003csvg class=\"roce-excel-icon\" viewbox=\"0 0 24 24\" aria-hidden=\"true\"\u003e\u003cpath fill=\"currentColor\" d=\"M5 3h10a2 2 0 0 1 2 2v4h2a2 2 0 0 1 2 2v8a2 2 0 0 1-2 2H9a2 2 0 0 1-2-2v-2H5a2 2 0 0 1-2-2V5a2 2 0 0 1 2-2Zm2 12V9h8V5H5v10h2Zm2-4v8h10v-8H9Zm2 2h2l1 1.5 1-1.5h2l-2 3 2 3h-2l-1-1.5-1 1.5h-2l2-3-2-3Z\"\u003e\u003c\/path\u003e\u003c\/svg\u003e\n        \u003cspan\u003eDownload Excel\u003c\/span\u003e\n      \u003c\/button\u003e\n      \u003cbutton class=\"roce-button roce-reset\" type=\"button\" data-reset\u003eReset\u003c\/button\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"roce-workspace\"\u003e\n      \u003csection class=\"roce-card\" aria-labelledby=\"roce-inputs-heading\"\u003e\n        \u003ch3 id=\"roce-inputs-heading\"\u003eCompany inputs\u003c\/h3\u003e\n        \u003cp class=\"roce-section-intro\"\u003eEnter figures from the same reporting period and in the same currency scale.\u003c\/p\u003e\n        \u003cfieldset class=\"roce-fieldset\"\u003e\n          \u003clegend\u003eROCE method\u003c\/legend\u003e\n          \u003cdiv class=\"roce-segmented\"\u003e\n            \u003clabel\u003e\u003cinput id=\"roce-method-assets\" type=\"radio\" name=\"roce-method\" value=\"assets\" checked\u003e\u003cspan\u003eAssets less current liabilities\u003c\/span\u003e\u003c\/label\u003e\n            \u003clabel\u003e\u003cinput id=\"roce-method-financing\" type=\"radio\" name=\"roce-method\" value=\"financing\"\u003e\u003cspan\u003eEquity plus non-current liabilities\u003c\/span\u003e\u003c\/label\u003e\n          \u003c\/div\u003e\n        \u003c\/fieldset\u003e\n        \u003cfieldset class=\"roce-fieldset\"\u003e\n          \u003clegend\u003eFigures shown in\u003c\/legend\u003e\n          \u003cdiv class=\"roce-segmented roce-segmented-three\"\u003e\n            \u003clabel\u003e\u003cinput id=\"roce-scale-dollars\" type=\"radio\" name=\"roce-scale\" value=\"dollars\"\u003e\u003cspan\u003eUSD\u003c\/span\u003e\u003c\/label\u003e\n            \u003clabel\u003e\u003cinput id=\"roce-scale-thousands\" type=\"radio\" name=\"roce-scale\" value=\"thousands\" checked\u003e\u003cspan\u003eUSD thousands\u003c\/span\u003e\u003c\/label\u003e\n            \u003clabel\u003e\u003cinput id=\"roce-scale-millions\" type=\"radio\" name=\"roce-scale\" value=\"millions\"\u003e\u003cspan\u003eUSD millions\u003c\/span\u003e\u003c\/label\u003e\n          \u003c\/div\u003e\n        \u003c\/fieldset\u003e\n        \u003cdiv class=\"roce-input-grid\"\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-ebit\"\u003eEBIT\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-ebit\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"$840,453.00\" aria-describedby=\"roce-ebit-help roce-ebit-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-ebit-help\"\u003eOperating earnings before interest and tax. Negative values are allowed for an operating loss.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-ebit-error\" data-error=\"ebit\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-benchmark\"\u003eComparison benchmark\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-benchmark\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"8.50%\" aria-describedby=\"roce-benchmark-help roce-benchmark-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-benchmark-help\"\u003eOptional cost-of-capital or industry benchmark used only for comparison.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-benchmark-error\" data-error=\"benchmark\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"roce-input-grid\" data-method-panel=\"assets\"\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-total-assets\"\u003eTotal assets\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-total-assets\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"$11,727,054.00\" aria-describedby=\"roce-total-assets-help roce-total-assets-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-total-assets-help\"\u003eThe balance-sheet total before subtracting current liabilities.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-total-assets-error\" data-error=\"totalAssets\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-current-liabilities\"\u003eTotal current liabilities\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-current-liabilities\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"$4,227,152.00\" aria-describedby=\"roce-current-liabilities-help roce-current-liabilities-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-current-liabilities-help\"\u003eObligations normally due within the operating cycle or twelve months.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-current-liabilities-error\" data-error=\"currentLiabilities\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"roce-input-grid roce-hidden\" data-method-panel=\"financing\"\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-equity\"\u003eShareholders’ equity\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-equity\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"$0.00\" aria-describedby=\"roce-equity-help roce-equity-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-equity-help\"\u003eBook value attributable to owners, including retained earnings and reserves.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-equity-error\" data-error=\"equity\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-field\"\u003e\n            \u003clabel for=\"roce-noncurrent-liabilities\"\u003eNon-current liabilities\u003c\/label\u003e\n            \u003cinput class=\"roce-control\" id=\"roce-noncurrent-liabilities\" type=\"text\" inputmode=\"decimal\" autocomplete=\"off\" value=\"$0.00\" aria-describedby=\"roce-noncurrent-liabilities-help roce-noncurrent-liabilities-error\"\u003e\n            \u003cdiv class=\"roce-helper\" id=\"roce-noncurrent-liabilities-help\"\u003eLong-term debt, lease obligations, and other liabilities not classified as current.\u003c\/div\u003e\n            \u003cdiv class=\"roce-error\" id=\"roce-noncurrent-liabilities-error\" data-error=\"noncurrentLiabilities\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/section\u003e\n      \u003csection class=\"roce-card roce-results\" aria-labelledby=\"roce-results-heading\"\u003e\n        \u003ch3 id=\"roce-results-heading\"\u003eLive results\u003c\/h3\u003e\n        \u003cdiv class=\"roce-primary-result\" aria-live=\"polite\" aria-atomic=\"true\"\u003e\n          \u003cspan class=\"roce-primary-label\"\u003eReturn on capital employed\u003c\/span\u003e\n          \u003cstrong class=\"roce-primary-value\" data-result-roce\u003e11.21%\u003c\/strong\u003e\n          \u003cp class=\"roce-primary-note\" data-result-summary\u003eThe company generates about $11.21 of EBIT for each $100 of capital employed.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"roce-result-grid\"\u003e\n          \u003cdiv class=\"roce-result-card\"\u003e\n            \u003cspan\u003eCapital employed\u003c\/span\u003e\n            \u003cstrong data-result-capital\u003e$7,499,902.00\u003c\/strong\u003e\n            \u003csmall data-result-capital-note\u003eIn USD thousands\u003c\/small\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-result-card\"\u003e\n            \u003cspan\u003eROCE minus benchmark\u003c\/span\u003e\n            \u003cstrong data-result-spread\u003e2.71 pp\u003c\/strong\u003e\n            \u003csmall\u003ePositive means ROCE exceeds the comparison rate.\u003c\/small\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-result-card\"\u003e\n            \u003cspan\u003eCapital per $1 of EBIT\u003c\/span\u003e\n            \u003cstrong data-result-capital-per-ebit\u003e$8.92\u003c\/strong\u003e\n            \u003csmall\u003eLower can indicate greater operating capital efficiency.\u003c\/small\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"roce-result-card\"\u003e\n            \u003cspan\u003eEBIT share of capital\u003c\/span\u003e\n            \u003cstrong data-result-ebit-share\u003e11.21%\u003c\/strong\u003e\n            \u003csmall\u003eThis is the same ratio expressed as operating return.\u003c\/small\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"roce-status\" data-status\u003eROCE is 2.71 percentage points above the selected benchmark.\u003c\/div\u003e\n      \u003c\/section\u003e\n    \u003c\/div\u003e\n    \u003csection class=\"roce-section\" aria-labelledby=\"roce-analysis-heading\"\u003e\n      \u003ch2 class=\"roce-section-title\" id=\"roce-analysis-heading\"\u003eCapital and return analysis\u003c\/h2\u003e\n      \u003cdiv class=\"roce-chart-grid\"\u003e\n        \u003carticle class=\"roce-chart-card\" data-chart-card=\"breakdown\"\u003e\n          \u003ch3\u003eBalance-sheet composition\u003c\/h3\u003e\n          \u003cp class=\"roce-chart-interpretation\" data-breakdown-intro\u003eCapital employed and current liabilities together reconcile to total assets.\u003c\/p\u003e\n          \u003cdiv class=\"roce-chart-cluster\"\u003e\n            \u003cdiv class=\"roce-plot\" data-breakdown-plot\u003e\u003c\/div\u003e\n            \u003cdiv class=\"roce-legend\" data-breakdown-legend\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"roce-sr-only\" data-breakdown-summary\u003e\u003c\/p\u003e\n          \u003cdiv class=\"roce-chart-callout\" data-breakdown-caption\u003eCapital employed represents the portion of the asset base financed by longer-term capital.\u003c\/div\u003e\n        \u003c\/article\u003e\n        \u003carticle class=\"roce-chart-card roce-bar-card\" data-chart-card=\"comparison\"\u003e\n          \u003ch3\u003eROCE compared with benchmark\u003c\/h3\u003e\n          \u003cp class=\"roce-chart-interpretation\" data-comparison-intro\u003eThe bar length shows the percentage-point level of each rate.\u003c\/p\u003e\n          \u003cdiv class=\"roce-chart-cluster\"\u003e\n            \u003cdiv class=\"roce-plot\" data-comparison-plot\u003e\u003c\/div\u003e\n            \u003cdiv class=\"roce-legend\" data-comparison-legend\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"roce-sr-only\" data-comparison-summary\u003e\u003c\/p\u003e\n          \u003cdiv class=\"roce-chart-callout\" data-comparison-caption\u003eA positive spread can indicate value creation, but industry economics, cyclicality, accounting policy, and the time period still matter.\u003c\/div\u003e\n        \u003c\/article\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n    \u003csection class=\"roce-section\" aria-labelledby=\"roce-detail-heading\"\u003e\n      \u003ch2 class=\"roce-section-title\" id=\"roce-detail-heading\"\u003eCalculation detail\u003c\/h2\u003e\n      \u003cdiv class=\"roce-table-wrap\" data-table-wrap\u003e\n        \u003ctable class=\"roce-table\"\u003e\n          \u003cthead\u003e\u003ctr\u003e\n\u003cth scope=\"col\"\u003eLine item\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eFormula or source\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n          \u003ctbody data-detail-body\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"roce-table-note\" data-table-note\u003eAll financial statement inputs must use the same currency and scale. Changing the display scale converts the entered figures without changing the underlying economics or ROCE.\u003c\/div\u003e\n    \u003c\/section\u003e\n    \u003csection class=\"roce-education\"\u003e\n      \u003cdiv class=\"roce-education-inner\"\u003e\n        \u003ch2\u003eWhat does this ROCE calculator estimate?\u003c\/h2\u003e\n        \u003cp\u003eReturn on capital employed, or ROCE, measures operating profit relative to the long-term capital supporting a business. It links an income-statement figure, EBIT, with a balance-sheet capital base. The result answers a practical question: how many dollars of operating earnings does the company produce for each dollar committed by shareholders and long-term creditors?\u003c\/p\u003e\n        \u003cp\u003eThe calculator supports the two standard capital-employed definitions. The asset method subtracts current liabilities from total assets. The financing method adds shareholders’ equity and non-current liabilities. When the statements are internally consistent and classifications are comparable, both approaches should produce the same capital employed. The \u003ca href=\"https:\/\/www.sec.gov\/about\/reports-publications\/investorpubsbegfinstmtguide\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSEC guide to financial statements\u003c\/a\u003e is a useful primer for locating these line items in annual and quarterly reports.\u003c\/p\u003e\n        \u003cdiv class=\"roce-formula\"\u003eROCE = EBIT ÷ Capital employed × 100%\u003c\/div\u003e\n        \u003ch2\u003eHow should each input be used?\u003c\/h2\u003e\n        \u003ch3\u003eROCE method\u003c\/h3\u003e\n        \u003cp\u003eChoose “Assets less current liabilities” when total assets and current liabilities are readily available. Choose “Equity plus non-current liabilities” when you prefer to build the capital base from financing sources. The choice changes which fields are required, not the conceptual result. A large difference between the two methods can signal inconsistent periods, incomplete classifications, or data copied from different statement versions.\u003c\/p\u003e\n        \u003ch3\u003eFigures shown in\u003c\/h3\u003e\n        \u003cp\u003eSelect USD, USD thousands, or USD millions to match the reporting scale. The control converts every financial amount when changed, so switching from thousands to millions divides the displayed numbers by 1,000 while retaining the same absolute values. ROCE is scale-independent, but mixing thousands and millions produces a misleading ratio. This field is required as an interface setting, even though it does not alter the economics.\u003c\/p\u003e\n        \u003ch3\u003eEBIT\u003c\/h3\u003e\n        \u003cp\u003eEBIT is earnings before interest and tax, commonly reported as operating income or derived from pretax income by adding interest expense. Use EBIT from the same period as the capital base, preferably trailing twelve months for an annual comparison. Higher EBIT increases ROCE one-for-one when capital employed is unchanged. A negative EBIT is allowed and produces a negative ROCE, indicating an operating loss. Avoid substituting net income because financing costs and taxes would make the numerator inconsistent with the capital supplied by both debt and equity.\u003c\/p\u003e\n        \u003ch3\u003eTotal assets and current liabilities\u003c\/h3\u003e\n        \u003cp\u003eTotal assets are the balance-sheet resources controlled by the company. Current liabilities are obligations expected to be settled within the operating cycle or roughly twelve months. Subtracting current liabilities isolates the longer-term capital tied up in operations. Higher assets increase capital employed and normally reduce ROCE unless EBIT also rises. Higher current liabilities reduce capital employed and can mechanically increase ROCE, so analysts should investigate whether the change reflects genuine working-capital efficiency or simply greater short-term financing. The \u003ca href=\"https:\/\/www.ifrs.org\/projects\/completed-projects\/2020\/classification-of-liabilities\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eIFRS overview of current and non-current liability classification\u003c\/a\u003e explains why the distinction can require judgment.\u003c\/p\u003e\n        \u003ch3\u003eShareholders’ equity and non-current liabilities\u003c\/h3\u003e\n        \u003cp\u003eShareholders’ equity is the book value attributable to owners. Non-current liabilities include long-term borrowings, lease obligations, and other obligations not due in the short term. Adding them gives the long-term financing base. Higher equity or non-current liabilities lowers ROCE if EBIT is unchanged. Do not use market capitalization in place of book equity unless you are deliberately creating a different analytical ratio.\u003c\/p\u003e\n        \u003ch3\u003eComparison benchmark\u003c\/h3\u003e\n        \u003cp\u003eThe benchmark is optional and does not enter the ROCE formula. It can represent the company’s estimated weighted average cost of capital, a peer median, or a target hurdle rate. The result panel reports the spread in percentage points. For industry-level reference data, the \u003ca href=\"https:\/\/pages.stern.nyu.edu\/~adamodar\/New_Home_Page\/datafile\/wacc.html\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eNYU Stern cost-of-capital dataset\u003c\/a\u003e provides regularly updated sector estimates. A benchmark should match the company’s geography, risk, currency, and measurement date.\u003c\/p\u003e\n        \u003ch2\u003eHow should the results be interpreted?\u003c\/h2\u003e\n        \u003cp\u003eThe primary ROCE result is the percentage of capital employed earned as EBIT during the selected period. A 12% ROCE means approximately $12 of EBIT for every $100 of capital employed. A higher value can indicate stronger capital efficiency, but only when accounting policies, business models, and periods are comparable. A zero result means no operating earnings were generated. A negative result indicates operating losses. The capital-employed card shows the denominator used in the calculation, while capital per $1 of EBIT expresses the inverse relationship and is unavailable when EBIT is zero.\u003c\/p\u003e\n        \u003cp\u003eThe spread card subtracts the comparison benchmark from ROCE. A positive spread suggests the operating return exceeds the selected hurdle rate; a negative spread indicates the opposite. This is a screening comparison, not a complete valuation conclusion. The \u003ca href=\"https:\/\/www.investopedia.com\/terms\/r\/roce.asp\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eInvestopedia ROCE overview\u003c\/a\u003e provides additional discussion of interpretation and peer comparison.\u003c\/p\u003e\n        \u003ch2\u003eWhat do the charts and table show?\u003c\/h2\u003e\n        \u003cp\u003eThe composition chart reconciles the capital base using the selected method. Under the asset method, capital employed and current liabilities sum to total assets. Under the financing method, equity and non-current liabilities sum to capital employed. The legend displays exact amounts and shares from the same calculation model used by the results and Excel workbook. Zero categories are omitted rather than drawn as decorative segments.\u003c\/p\u003e\n        \u003cp\u003eThe comparison chart places ROCE beside the selected benchmark on a common percentage-point scale. It supports positive and negative ROCE values, with the zero line serving as the baseline. The calculation table exposes each input, the capital-employed formula, the final ratio, and the benchmark spread. Use it to identify whether an unexpected result comes from the numerator, denominator, or unit scale.\u003c\/p\u003e\n        \u003ch2\u003eWhat are the main limitations and common mistakes?\u003c\/h2\u003e\n        \u003cp\u003eROCE is sensitive to accounting choices, asset age, acquisitions, impairments, lease classification, and seasonal balance sheets. A business with heavily depreciated assets may show a high ROCE even if its equipment needs replacement. A rapidly growing company may show a temporarily lower ROCE because capital is invested before new capacity reaches full utilization. Comparing one year’s EBIT with a quarter-end capital base can also distort the ratio; using average opening and closing capital employed is often preferable for deeper analysis.\u003c\/p\u003e\n        \u003cp\u003eCommon mistakes include mixing reporting periods, entering one figure in thousands and another in millions, using EBITDA instead of EBIT without adjusting the interpretation, and treating an industry threshold as universal. Compare trends over several periods, review peer definitions, and pair ROCE with cash flow, leverage, margins, and reinvestment needs. This calculator is an analytical aid and does not provide personalized investment, tax, legal, or accounting advice.\u003c\/p\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n  \u003c\/div\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909486682355,"sku":"return-on-capital-employed","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/return-on-capital-employed.webp?v=1783935503","url":"https:\/\/financialmodelslab.com\/products\/return-on-capital-employed","provider":"Financial Models Lab","version":"1.0","type":"link"}