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China Tourism Group Duty Free (SHSE:601888) ROA % : 11.60% (As of Mar. 2024)


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China Tourism Group Duty Free ROA % Definition

ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. China Tourism Group Duty Free's annualized Net Income for the quarter that ended in Mar. 2024 was ¥9,226 Mil. China Tourism Group Duty Free's average Total Assets over the quarter that ended in Mar. 2024 was ¥79,561 Mil. Therefore, China Tourism Group Duty Free's annualized ROA % for the quarter that ended in Mar. 2024 was 11.60%.

The historical rank and industry rank for China Tourism Group Duty Free's ROA % or its related term are showing as below:

SHSE:601888' s ROA % Range Over the Past 10 Years
Min: 7.66   Med: 11.95   Max: 18.97
Current: 8.55

During the past 13 years, China Tourism Group Duty Free's highest ROA % was 18.97%. The lowest was 7.66%. And the median was 11.95%.

SHSE:601888's ROA % is ranked better than
81.66% of 1118 companies
in the Retail - Cyclical industry
Industry Median: 2.195 vs SHSE:601888: 8.55

China Tourism Group Duty Free ROA % Historical Data

The historical data trend for China Tourism Group Duty Free's ROA % 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.

China Tourism Group Duty Free ROA % Chart

China Tourism Group Duty Free Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROA %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15.79 15.72 18.97 7.66 8.68

China Tourism Group Duty Free Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
ROA % 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 11.82 7.88 6.78 7.63 11.60

Competitive Comparison of China Tourism Group Duty Free's ROA %

For the Specialty Retail subindustry, China Tourism Group Duty Free's ROA %, along with its competitors' market caps and ROA % 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.


China Tourism Group Duty Free's ROA % Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's ROA % distribution charts can be found below:

* The bar in red indicates where China Tourism Group Duty Free's ROA % falls into.



China Tourism Group Duty Free ROA % Calculation

China Tourism Group Duty Free's annualized ROA % for the fiscal year that ended in Dec. 2023 is calculated as:

ROA %=Net Income (A: Dec. 2023 )/( (Total Assets (A: Dec. 2022 )+Total Assets (A: Dec. 2023 ))/ count )
=6713.687/( (75907.604+78869.406)/ 2 )
=6713.687/77388.505
=8.68 %

China Tourism Group Duty Free's annualized ROA % for the quarter that ended in Mar. 2024 is calculated as:

ROA %=Net Income (Q: Mar. 2024 )/( (Total Assets (Q: Dec. 2023 )+Total Assets (Q: Mar. 2024 ))/ count )
=9225.82/( (78869.406+80252.537)/ 2 )
=9225.82/79560.9715
=11.60 %

* 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 ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Mar. 2024) net income data. ROA % is displayed in the 30-year financial page.


China Tourism Group Duty Free  (SHSE:601888) ROA % Explanation

ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A bank’s ROA % is typically well under 2%.

Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:

ROA %(Q: Mar. 2024 )
=Net Income/Total Assets
=9225.82/79560.9715
=(Net Income / Revenue)*(Revenue / Total Assets)
=(9225.82 / 75228.676)*(75228.676 / 79560.9715)
=Net Margin %*Asset Turnover
=12.26 %*0.9455
=11.60 %

Note: The Net Income data used here is four times the quarterly (Mar. 2024) net income data. The Revenue data used here is four times the quarterly (Mar. 2024) revenue data.

* 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.


Be Aware

Like ROE, ROA % 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. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % 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 ROA % may indicate vulnerability in the durability of the competitive advantage.

E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.


China Tourism Group Duty Free ROA % Related Terms

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China Tourism Group Duty Free (SHSE:601888) Business Description

Traded in Other Exchanges
Address
No. 2A, Dongzhimenwai Street, 8th Floor, Block A, Dongcheng District, Beijing, CHN, 100027
China Tourism Group Duty Free Corp Ltd is an investment holding company. The company's segments include Retail and Property. It generates maximum revenue from the Retail segment. The Retail segment offers a comprehensive series of duty-free and duty-paid merchandise to customers in Mainland China, Hong Kong, Macau, Cambodia, etc, through its travel retail business. It also engages sales of duty-free and duty-paid merchandise and income from provision of related services.

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