First Tractor Co (HKSE:00038) ROCE % : 34.85% (As of Mar. 2024)

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What is First Tractor Co ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. First Tractor Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 34.85%.

First Tractor Co ROCE % Historical Data

The historical data trend for First Tractor Co's ROCE % 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.

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First Tractor Co ROCE % Chart

First Tractor Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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6.21

7.82

8.69

9.26

13.94

First Tractor Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															28.36	17.74	18.27	-7.54	34.85

First Tractor Co ROCE % Calculation

First Tractor Co's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	1126.888	/	( ( (14507.872 - 6843.07)	+	(15113.029 - 6611.46) )	/ 2 )
	=	1126.888	/	( (7664.802	+	8501.569)	/ 2 )
	=	1126.888	/	8083.1855
	=	13.94 %

First Tractor Co's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	3067.892	/	( ( (15113.029 - 6611.46)	+	(16682.881 - 7578.173) )	/ 2 )
	=	3067.892	/	( ( 8501.569	+	9104.708 )	/ 2 )
	=	3067.892	/	8803.1385
	=	34.85 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

First Tractor Co (HKSE:00038) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

First Tractor Co ROCE % Related Terms

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First Tractor Co (HKSE:00038) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » First Tractor Co Ltd (HKSE:00038) » Definitions » ROCE %

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Traded in Other Exchanges

FIRRF:USA 601038:China

Address

No. 154 Jianshe Road, Henan Province, Luoyang, CHN, 471004

Website

http://www.first-tractor.com.cn

First Tractor Co Ltd is a Chinese company engaged in the agricultural machinery manufacturing industry. Its business scope mainly includes manufacturing and selling agricultural machinery, diesel engines and fuel injections, other machinery, and an operating business of a finance company. It has four reporting divisions. The Agricultural Machinery division, which is the key revenue driver, is responsible for the production and sale of agricultural tractors, harvesters, and others. The power machinery division is mainly responsible for producing and selling diesel engines. The financial business is to handle the member units between the entrusted loans and investment, internal transfer settlement, absorption of member units deposits, and other business.

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