China Gas Holdings (HKSE:00384) ROCE %

: 6.93% (As of Sep. 2023)

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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. China Gas Holdings's annualized ROCE % for the quarter that ended in Sep. 2023 was 6.93%.

China Gas Holdings ROCE % Historical Data

The historical data trend for China Gas Holdings'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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China Gas Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

21.09

22.40

19.74

12.05

7.36

China Gas Holdings Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROCE %																12.34	10.49	9.75	5.13	6.93

China Gas Holdings ROCE % Calculation

China Gas Holdings's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	7893.36	/	( ( (163146.352 - 54287.148)	+	(157291.209 - 51780.203) )	/ 2 )
	=	7893.36	/	( (108859.204	+	105511.006)	/ 2 )
	=	7893.36	/	107185.105
	=	7.36 %

China Gas Holdings's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	7027.394	/	( ( (157291.209 - 51780.203)	+	(149355.482 - 52132.95) )	/ 2 )
	=	7027.394	/	( ( 105511.006	+	97222.532 )	/ 2 )
	=	7027.394	/	101366.769
	=	6.93 %

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

China Gas Holdings (HKSE:00384) 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.

China Gas Holdings ROCE % Related Terms

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China Gas Holdings (HKSE:00384) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » China Gas Holdings Ltd (HKSE:00384) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CGHOF:USA CGHLY:USA EBZ:Germany

Address

151 Gloucester Road, Room 1601, 16th Floor, Capital Centre, Wan Chai, Hong Kong, HKG

Website

http://www.chinagasholdings.com.hk

China Gas Holdings is involved in the wholesale and retail businesses of natural gas and liquefied petroleum gas in China. As of fiscal 2023 (ended March 31, 2023), the group had secured a total of 661 piped gas concessions, 533 compressed natural gas/liquefied natural gas refilling stations for vehicles, and 106 LPG distribution projects in China. In total, CGH has connected 45.4 million residential households and achieved a penetration rate of 68.6%.

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