Meituan (HKSE:03690) ROCE % : 5.69% (As of Dec. 2023)

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What is Meituan 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. Meituan's annualized ROCE % for the quarter that ended in Dec. 2023 was 5.69%.

Meituan ROCE % Historical Data

The historical data trend for Meituan'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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Meituan ROCE % Chart

Meituan Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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3.16

4.67

-15.85

-2.90

8.49

Meituan Quarterly Data
	Apr18	Dec18	Jun19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-1.65	8.81	11.17	8.56	5.69

Meituan ROCE % Calculation

Meituan'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 )
	=	16895.63	/	( ( (273015.745 - 85350.614)	+	(320509.624 - 110333.955) )	/ 2 )
	=	16895.63	/	( (187665.131	+	210175.669)	/ 2 )
	=	16895.63	/	198920.4
	=	8.49 %

Meituan's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	11724.308	/	( ( (306271.683 - 104700.762)	+	(320509.624 - 110333.955) )	/ 2 )
	=	11724.308	/	( ( 201570.921	+	210175.669 )	/ 2 )
	=	11724.308	/	205873.295
	=	5.69 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Meituan (HKSE:03690) 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.

Meituan ROCE % Related Terms

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Meituan (HKSE:03690) Business Description

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Address

No. 4 Wang Jing East Road, Block B and C, Hengjiweiye Building, Chaoyang District, Beijing, CHN, 100102

Website

https://about.meituan.com

Meituan is the largest food delivery service in China, with a 70.7% share of the market in 2020 per the Chinese government. For the quarter-ended Sept. 30, 2021, the firm generated 54.2% of revenue from food delivery services, 17.7% from hotel booking, coupon sales, advertising, and 28.1% from new initiatives. In the long term, its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, overtaking food delivery as its main business.

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