Jiangsu Yanghe Brewery JSC (SZSE:002304) ROCE % : 24.24% (As of Sep. 2023)

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What is Jiangsu Yanghe Brewery JSC 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. Jiangsu Yanghe Brewery JSC's annualized ROCE % for the quarter that ended in Sep. 2023 was 24.24%.

Jiangsu Yanghe Brewery JSC ROCE % Historical Data

The historical data trend for Jiangsu Yanghe Brewery JSC'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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Jiangsu Yanghe Brewery JSC ROCE % Chart

Jiangsu Yanghe Brewery JSC Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

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33.79

27.42

25.98

24.25

27.46

Jiangsu Yanghe Brewery JSC Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
ROCE %	Get a 7-Day Free Trial															26.18	2.52	60.38	21.07	24.24

Jiangsu Yanghe Brewery JSC ROCE % Calculation

Jiangsu Yanghe Brewery JSC'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 )
	=	12509.866	/	( ( (67798.704 - 24733.309)	+	(67964.247 - 19928.3) )	/ 2 )
	=	12509.866	/	( (43065.395	+	48035.947)	/ 2 )
	=	12509.866	/	45550.671
	=	27.46 %

Jiangsu Yanghe Brewery JSC'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: Jun. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	12493.12	/	( ( (60562.362 - 10179.782)	+	(64478.322 - 11764.058) )	/ 2 )
	=	12493.12	/	( ( 50382.58	+	52714.264 )	/ 2 )
	=	12493.12	/	51548.422
	=	24.24 %

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

Jiangsu Yanghe Brewery JSC (SZSE:002304) 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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Jiangsu Yanghe Brewery JSC (SZSE:002304) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Jiangsu Yanghe Brewery JSC Ltd (SZSE:002304) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

No. 118 Middle Avenue, Yanghe Town, Jiangsu Province, Suqian, CHN, 223800

Website

https://www.chinayanghe.com

Jiangsu Yanghe Brewery, founded in 2002, manufactures and markets baijiu (a distilled Chinese liquor) under the Yanghe, Shuanggou, and Sujiu brands. Yanghe's key products include the Blue Classic series, which accounted for about 80% of total sales, such as premium Dream Blue, mid- to high-end Sky Blue, and mass-market Ocean Blue. The company achieved revenue of CNY 30 billion in 2022, with half of sales from the non-Jiangsu market, leveraging its more than 8,000 distributors across China.

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