Innovita Biological Technology Co (SHSE:688253) ROCE % : 36.03% (As of Mar. 2024)

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What is Innovita Biological Technology 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. Innovita Biological Technology Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 36.03%.

Innovita Biological Technology Co ROCE % Historical Data

The historical data trend for Innovita Biological Technology 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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Innovita Biological Technology Co ROCE % Chart

Innovita Biological Technology Co Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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30.51

171.38

19.45

13.49

11.19

Innovita Biological Technology Co Quarterly Data
	Dec18	Dec19	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial												14.43	6.24	2.45	21.74	36.03

Innovita Biological Technology Co ROCE % Calculation

Innovita Biological Technology 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 )
	=	198.561	/	( ( (1942.574 - 243.112)	+	(2065.655 - 215.234) )	/ 2 )
	=	198.561	/	( (1699.462	+	1850.421)	/ 2 )
	=	198.561	/	1774.9415
	=	11.19 %

Innovita Biological Technology 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 )
	=	693.192	/	( ( (2065.655 - 215.234)	+	(2177.078 - 179.126) )	/ 2 )
	=	693.192	/	( ( 1850.421	+	1997.952 )	/ 2 )
	=	693.192	/	1924.1865
	=	36.03 %

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

Innovita Biological Technology Co (SHSE:688253) 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.

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Innovita Biological Technology Co (SHSE:688253) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Innovita Biological Technology Co Ltd (SHSE:688253) » Definitions » ROCE %

Comparable Companies

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N/A

Address

No. 1 Courtyard, Haiying Road, 1st Floor, 2nd Floor, Building 6, Fengtai District, Beijing, CHN, 100071

Website

https://www.innovita.com.cn

Innovita Biological Technology Co Ltd is a biotechnology company focusing on the research and development, production and sales of POCT in vitro diagnostic products.

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