China Southern Airlines Co (SHSE:600029) ROCE % : -9.28% (As of Dec. 2023)

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What is China Southern Airlines Co 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. China Southern Airlines Co's annualized ROCE % for the quarter that ended in Dec. 2023 was -9.28%.

China Southern Airlines Co ROCE % Historical Data

The historical data trend for China Southern Airlines 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 Southern Airlines Co ROCE % Chart

China Southern Airlines Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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4.81

-3.84

-3.48

-13.34

2.45

China Southern Airlines Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-20.86	0.19	2.70	16.91	-9.28

China Southern Airlines Co ROCE % Calculation

China Southern Airlines Co'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 )
	=	4283	/	( ( (312001 - 141458)	+	(309226 - 129436) )	/ 2 )
	=	4283	/	( (170543	+	179790)	/ 2 )
	=	4283	/	175166.5
	=	2.45 %

China Southern Airlines Co'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 )
	=	-16320	/	( ( (306201 - 134124)	+	(309226 - 129436) )	/ 2 )
	=	-16320	/	( ( 172077	+	179790 )	/ 2 )
	=	-16320	/	175933.5
	=	-9.28 %

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

China Southern Airlines Co (SHSE:600029) 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.

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China Southern Airlines Co (SHSE:600029) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » China Southern Airlines Co Ltd (SHSE:600029) » Definitions » ROCE %

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CHKIF:USA 01055:Hong Kong ZNHH:Germany

Address

68 Qixin Road, China Southern Air Building, Baiyun District, Guangdong Province, Guangzhou, CHN, 510403

Website

https://www.csair.com

China Southern Airlines is based in Guangzhou and is one of the three largest state-owned airlines in China. The group operated a fleet of 894 aircraft as of 2022 and carried more than 150 million passengers in prepandemic 2019, ranking first in Asia. It runs a spoke-and-hub model under which it gathers and distributes passengers from air hubs like Guangzhou and Beijing. The group's route network extends to over 243 destinations and 44 countries and regions.

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