China Resources Beer (Holdings) Co (China Resources Beer (Holdings) Co) ROCE %

: 30.14% (As of Jun. 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 Resources Beer (Holdings) Co's annualized ROCE % for the quarter that ended in Jun. 2023 was 30.14%.

China Resources Beer (Holdings) Co ROCE % Historical Data

The historical data trend for China Resources Beer (Holdings) Co'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 Resources Beer (Holdings) Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

7.32

10.54

13.79

23.27

16.78

China Resources Beer (Holdings) Co Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
ROCE %																43.82	1.48	32.61	1.65	30.14

China Resources Beer (Holdings) Co ROCE % Calculation

China Resources Beer (Holdings) Co's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	798.514	/	( ( (8015.481 - 3323.756)	+	(8220.807 - 3394.724) )	/ 2 )
	=	798.514	/	( (4691.725	+	4826.083)	/ 2 )
	=	798.514	/	4758.904
	=	16.78 %

China Resources Beer (Holdings) Co's ROCE % of for the quarter that ended in Jun. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2023 )		(Q: Dec. 2022 )		(Q: Jun. 2023 )
	=	1790.432	/	( ( (8220.807 - 3394.724)	+	(10754.322 - 3699.416) )	/ 2 )
	=	1790.432	/	( ( 4826.083	+	7054.906 )	/ 2 )
	=	1790.432	/	5940.4945
	=	30.14 %

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

China Resources Beer (Holdings) Co (OTCPK:CRHKF) 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 Resources Beer (Holdings) Co ROCE % Related Terms

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China Resources Beer (Holdings) Co (China Resources Beer (Holdings) Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » China Resources Beer (Holdings) Co Ltd (OTCPK:CRHKF) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CRHKY:USA 00291:Hong Kong CHK:Germany

Address

No. 26 Harbour Road, Room 2301 and 2310, 23rd Floor, China Resources Building, Wanchai, Hong Kong, HKG

Website

https://www.crbeer.com.hk

China Resources Beer, or CR Beer, was originally a conglomerate enterprise with operations across retail, beer, food and beverage sectors. In September 2015, the company disposed of all its non-beer businesses and became a pure beer producer. Through a series of mergers and acquisitions, the company retains its leadership position in China's beer industry. Amid the premiumization trend in the domestic beer market, CR beer acquired Heineken China in 2019, which allows CR Beer access to a premium international brand and also leverages its sophisticated distribution network to grow Heineken's sales and market share. CR Beer is now China's largest brewer, with a volume share of about 24%, versus 18% of Tsingtao and 16% of Budweiser APAC, based on Euromonitor data.

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