Zhejiang Songyuan Automotivefety Systems Co (SZSE:300893) ROCE % : 18.98% (As of Mar. 2024)

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What is Zhejiang Songyuan Automotivefety Systems 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. Zhejiang Songyuan Automotivefety Systems Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 18.98%.

Zhejiang Songyuan Automotivefety Systems Co ROCE % Historical Data

The historical data trend for Zhejiang Songyuan Automotivefety Systems 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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Zhejiang Songyuan Automotivefety Systems Co ROCE % Chart

Zhejiang Songyuan Automotivefety Systems Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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28.04

19.09

16.81

14.14

18.94

Zhejiang Songyuan Automotivefety Systems 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															14.96	13.48	22.14	28.20	18.98

Zhejiang Songyuan Automotivefety Systems Co ROCE % Calculation

Zhejiang Songyuan Automotivefety Systems 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 )
	=	233.53	/	( ( (1546.473 - 537.44)	+	(1981.55 - 524.161) )	/ 2 )
	=	233.53	/	( (1009.033	+	1457.389)	/ 2 )
	=	233.53	/	1233.211
	=	18.94 %

Zhejiang Songyuan Automotivefety Systems 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 )
	=	288.836	/	( ( (1981.55 - 524.161)	+	(2084.597 - 498.586) )	/ 2 )
	=	288.836	/	( ( 1457.389	+	1586.011 )	/ 2 )
	=	288.836	/	1521.7
	=	18.98 %

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

Zhejiang Songyuan Automotivefety Systems Co (SZSE:300893) 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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Zhejiang Songyuan Automotivefety Systems Co (SZSE:300893) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Zhejiang Songyuan Automotive Safety Systems Co Ltd (SZSE:300893) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

No. 1 Yunheyan Road, Moushan Town, Zhejiang Province, Yuyao, CHN, 315456

Website

http://www.songyuansafety.com

Zhejiang Songyuan Automotive Safety Systems Co Ltd is engaged in the research and development, design, production, sales and service of automotive passive safety system products and special seat safety devices such as automotive seat belt assemblies and parts. The company's products include Bilateral pre-tensioning force limiting type; Unilateral pre-tensioning force limit type; Emergency locking force limit type; Ordinary emergency lock; Simple Lock; and High profile Components.

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