Tiangong International Co (HKSE:00826) ROCE % : 7.21% (As of Dec. 2023)

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What is Tiangong International 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. Tiangong International Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 7.21%.

Tiangong International Co ROCE % Historical Data

The historical data trend for Tiangong International 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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Tiangong International Co ROCE % Chart

Tiangong International Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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10.18

12.90

12.77

8.11

7.99

Tiangong International Co Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															12.96	9.95	6.59	9.01	7.21

Tiangong International Co ROCE % Calculation

Tiangong International 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 )
	=	726.332	/	( ( (14922.827 - 5672.332)	+	(14832.818 - 5907.038) )	/ 2 )
	=	726.332	/	( (9250.495	+	8925.78)	/ 2 )
	=	726.332	/	9088.1375
	=	7.99 %

Tiangong International Co's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	638.83	/	( ( (15695.653 - 6889.735)	+	(14832.818 - 5907.038) )	/ 2 )
	=	638.83	/	( ( 8805.918	+	8925.78 )	/ 2 )
	=	638.83	/	8865.849
	=	7.21 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

Tiangong International Co (HKSE:00826) 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.

Tiangong International Co ROCE % Related Terms

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Tiangong International Co (HKSE:00826) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Tiangong International Co Ltd (HKSE:00826) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

34T1:Germany

Address

Houxiang Town, Jiangsu Province, Danyang City, CHN, 212312

Website

http://www.tggj.cn

Tiangong International Co Ltd is engaged in the manufacturing and sales of high alloy steel, cutting tools, titanium alloy, trading of goods and others. The reportable segments of the company are, 1) The DS segment manufactures and sells materials that are used in the die set manufacturing industry. 2) The HSS segment manufactures and sells materials that are used in the tools manufacturing industry. 3) The cutting tools segment manufactures and sells HSS and carbide cutting tools to the tooling industry. 4) The titanium alloy segment manufactures and sells titanium alloys to the titanium industry. 5) The trading of goods segment sells general carbon steel products that are not within the Group's production scope. 6) Others segment assembles and sells power tools kits.

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