Market Cap : 58.49 B | Enterprise Value : 47.15 B | PE Ratio : 22.58 | PB Ratio : 3.81 |
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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. NetEase's annualized ROCE % for the quarter that ended in Mar. 2022 was 20.96%.
The historical data trend for NetEase'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.
NetEase's annualized ROCE % for the fiscal year that ended in Dec. 2021 is calculated as:
ROCE % | = | EBIT | / | ( (Capital Employed | + | Capital Employed) | / count ) |
(A: Dec. 2021 ) | (A: Dec. 2020 ) | (A: Dec. 2021 ) | |||||
= | EBIT | / | ( ( (Total Assets - Total Current Liabilities) | + | (Total Assets - Total Current Liabilities) ) | / count ) | |
(A: Dec. 2021 ) | (A: Dec. 2020 ) | (A: Dec. 2021 ) | |||||
= | 2577.5312828725 | / | ( ( (21695.68333002 - 7148.0878687321) | + | (24122.576107265 - 7928.8659664327) ) | / 2 ) | |
= | 2577.5312828725 | / | ( (14547.595461288 | + | 16193.710140832) | / 2 ) | |
= | 2577.5312828725 | / | 15370.65280106 | ||||
= | 16.77 % |
NetEase's ROCE % of for the quarter that ended in Mar. 2022 is calculated as:
ROCE % | = | EBIT (1) | / | ( (Capital Employed | + | Capital Employed) | / count ) |
(Q: Mar. 2022 ) | (Q: Dec. 2021 ) | (Q: Mar. 2022 ) | |||||
= | EBIT | / | ( ( (Total Assets - Total Current Liabilities) | + | (Total Assets - Total Current Liabilities) ) | / count ) | |
(Q: Mar. 2022 ) | (Q: Dec. 2021 ) | (Q: Mar. 2022 ) | |||||
= | 3471.9534722441 | / | ( ( (24122.576107265 - 7928.8659664327) | + | (25099.787063014 - 8158.8101692778) ) | / 2 ) | |
= | 3471.9534722441 | / | ( ( 16193.710140832 | + | 16940.976893736 ) | / 2 ) | |
= | 3471.9534722441 | / | 16567.343517284 | ||||
= | 20.96 % |
(1) Note: The EBIT data used here is four times the quarterly (Mar. 2022) EBIT 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.
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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