Ares Asia (HKSE:00645) ROCE % : -13.73% (As of Sep. 2023)

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What is Ares Asia 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. Ares Asia's annualized ROCE % for the quarter that ended in Sep. 2023 was -13.73%.

Ares Asia ROCE % Historical Data

The historical data trend for Ares Asia'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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Ares Asia ROCE % Chart

Ares Asia Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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-7.71

-1.03

-16.04

-18.90

-8.63

Ares Asia Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROCE %	Get a 7-Day Free Trial															-21.82	-15.69	-4.47	-12.81	-13.73

Ares Asia ROCE % Calculation

Ares Asia'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 )
	=	-5.941	/	( ( (192.597 - 119.783)	+	(150.452 - 85.512) )	/ 2 )
	=	-5.941	/	( (72.814	+	64.94)	/ 2 )
	=	-5.941	/	68.877
	=	-8.63 %

Ares Asia'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 )
	=	-8.58	/	( ( (150.452 - 85.512)	+	(100.565 - 40.52) )	/ 2 )
	=	-8.58	/	( ( 64.94	+	60.045 )	/ 2 )
	=	-8.58	/	62.4925
	=	-13.73 %

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

Ares Asia (HKSE:00645) 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.

Ares Asia ROCE % Related Terms

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Ares Asia (HKSE:00645) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » Ares Asia Ltd (HKSE:00645) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

1 Austin Road West, Unit No. 9608, Level 96, International Commerce Centre, Kowloon, Hong Kong, HKG

Website

http://www.aresasialtd.com

Ares Asia Ltd is an investment holding company. The group is principally engaged in the business of coal trading, entailing the selling of coal purchased from various countries to Mainland China and other commodities trading, which encompasses supply chain management and risk management service. Its business falls under the primary segment of Coal and other trading. Geographically, the group has a business presence in Mainland China, Hong Kong, and other countries, of which maximum revenue is derived from Mainland China.

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