Armillary Return on Capital Employed Report 2024

We are delighted to present the fourteenth Armillary Return on Capital Employed (“ROCE”) report. This year the total number of entities in our data set of NZX, Unlisted Securities Exchange (“USX”), Private and selected Crown-owned companies is 286. With some differences in the companies included in each category, not all of this year’s results are directly comparable with prior reports.

The ROCE methodology we use in this report was developed by Du Pont Corporation and is therefore not proprietary to us - although we are proponents. As it is simple to apply, anyone who understands the methodology can use it. We regularly use this methodology as a tool in our client engagements and our financial training curriculum.

Click the link for our full ROCE report.