Here's What To Make Of OceanPact Serviços Marítimos' (BVMF:OPCT3) Decelerating Rates Of Return

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Although, when we looked at OceanPact Serviços Marítimos (BVMF:OPCT3), it didn't seem to tick all of these boxes.

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Return On Capital Employed (ROCE): What Is It?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for OceanPact Serviços Marítimos:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

0.095 = R$213m ÷ (R$2.8b - R$564m) (Based on the trailing twelve months to June 2025).

Therefore, OceanPact Serviços Marítimos has an ROCE of 9.5%. On its own, that's a low figure but it's around the 12% average generated by the Commercial Services industry.

See our latest analysis for OceanPact Serviços Marítimos

Above you can see how the current ROCE for OceanPact Serviços Marítimos compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for OceanPact Serviços Marítimos .

So How Is OceanPact Serviços Marítimos' ROCE Trending?

In terms of OceanPact Serviços Marítimos' historical ROCE trend, it doesn't exactly demand attention. Over the past five years, ROCE has remained relatively flat at around 9.5% and the business has deployed 285% more capital into its operations. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.

One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 20% of total assets, is good to see from a business owner's perspective. Effectively suppliers now fund less of the business, which can lower some elements of risk.

Our Take On OceanPact Serviços Marítimos' ROCE

In conclusion, OceanPact Serviços Marítimos has been investing more capital into the business, but returns on that capital haven't increased. Investors must think there's better things to come because the stock has knocked it out of the park, delivering a 180% gain to shareholders who have held over the last three years. But if the trajectory of these underlying trends continue, we think the likelihood of it being a multi-bagger from here isn't high.

If you're still interested in OceanPact Serviços Marítimos it's worth checking out our FREE intrinsic value approximation for OPCT3 to see if it's trading at an attractive price in other respects.

While OceanPact Serviços Marítimos may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.