Negative capital employed (See Chapter 13 of the Vernimmen)Companies with negative capital employed usually have a highly negative working capital exceeding the size of their net fixed assets. This type of company typically posts a very high return on equity. Return on capital employed of these companies should take into account income from short-term financial investments (included in earnings) and the size of these investments (included in capital employed): ROCE = (EBIT + Financial income) ? (1 – corporate income tax) / (Capital employed + Short-term financial investments). Such companies factor their financial income into the selling price of their products and services.
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Definitions of terms begining with the same letter as "Negative capital employed" :
NASDAQ NAV NBV NOPAT NOPAT multiple NPV NWP NYSE Natural disaster risks Natural hedge Negative capital employed Negative covenant Negative working capital Net Book Value Net Written Premium Net asset value Net asset value of a fund, NAV Net assets Net assets per share Net debt Net financial debt Net financial expense/income Net fixed assets Net income Net pension costs Net present value Net profit Net worth Net worth test Netting New equity puzzle Nominal rate Nominal value Nominee agreement Non core-assets Non investment grade, non-investment grade Non recurrent items Non recurring items Non-monetary items Non-operating assets Non-operating working capital Non-recourse discounting Non-voting shares Normalised cash flow Normalised earnings Normative analysis Normative cash flow Normative margin Notes to the accounts Notional amount Notional pooling