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Shandong Weigao Group Medical Polymer Co (Shandong Weigao Group Medical Polymer Co) Return-on-Tangible-Asset : 8.37% (As of Jun. 2023)


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What is Shandong Weigao Group Medical Polymer Co Return-on-Tangible-Asset?

Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Shandong Weigao Group Medical Polymer Co's annualized Net Income for the quarter that ended in Jun. 2023 was $335 Mil. Shandong Weigao Group Medical Polymer Co's average total tangible assets for the quarter that ended in Jun. 2023 was $3,998 Mil. Therefore, Shandong Weigao Group Medical Polymer Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2023 was 8.37%.

The historical rank and industry rank for Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset or its related term are showing as below:

SHWGY' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.86   Med: 9.58   Max: 11.39
Current: 7.02

During the past 13 years, Shandong Weigao Group Medical Polymer Co's highest Return-on-Tangible-Asset was 11.39%. The lowest was 3.86%. And the median was 9.58%.

SHWGY's Return-on-Tangible-Asset is ranked better than
72.72% of 865 companies
in the Medical Devices & Instruments industry
Industry Median: -2.38 vs SHWGY: 7.02

Shandong Weigao Group Medical Polymer Co Return-on-Tangible-Asset Historical Data

The historical data trend for Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Shandong Weigao Group Medical Polymer Co Return-on-Tangible-Asset Chart

Shandong Weigao Group Medical Polymer Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Return-on-Tangible-Asset
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.52 9.99 9.62 9.75 7.01

Shandong Weigao Group Medical Polymer Co Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Return-on-Tangible-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.57 11.26 8.50 8.37 5.66

Competitive Comparison of Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset

For the Medical Instruments & Supplies subindustry, Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Shandong Weigao Group Medical Polymer Co's Return-on-Tangible-Asset falls into.



Shandong Weigao Group Medical Polymer Co Return-on-Tangible-Asset Calculation

Shandong Weigao Group Medical Polymer Co's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2022 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Dec. 2022 )  (A: Dec. 2021 )(A: Dec. 2022 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Dec. 2022 )  (A: Dec. 2021 )(A: Dec. 2022 )
=390.623/( (3992.696+4022.179)/ 2 )
=390.623/4007.4375
=9.75 %

Shandong Weigao Group Medical Polymer Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Jun. 2023 )  (Q: Dec. 2022 )(Q: Jun. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Jun. 2023 )  (Q: Dec. 2022 )(Q: Jun. 2023 )
=334.506/( (4022.179+3974.401)/ 2 )
=334.506/3998.29
=8.37 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (Jun. 2023) net income data.


Shandong Weigao Group Medical Polymer Co  (OTCPK:SHWGY) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.


Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.


Shandong Weigao Group Medical Polymer Co Return-on-Tangible-Asset Related Terms

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Shandong Weigao Group Medical Polymer Co (Shandong Weigao Group Medical Polymer Co) Business Description

Traded in Other Exchanges
Address
No.1, Weigao Road, Torch Hi-tech Science Park, Shandong Province, Weihai, CHN
Shandong Weigao Group Medical Polymer Co Ltd functions in the healthcare sector in China. Its business mainly involves the research and development, production, and sale of single-use medical device products. The company's segments include Medical device products, Orthopaedic products, Interventional products, Pharma packaging products, Blood management products, and others. The company's products comprise consumables including infusion sets, syringes, medical needles, blood bags, prefilled syringes, wound management, blood sampling products; orthopedic materials, and blood purification consumables and equipment. The company operates in the People's Republic of China, the United States, Europe, the Middle East, and Africa, Asia, and others.

Shandong Weigao Group Medical Polymer Co (Shandong Weigao Group Medical Polymer Co) Headlines