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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Pingtan Marine Enterprise's annualized return on invested capital (ROIC %) for the quarter that ended in Jun. 2022 was 0.00%.
As of today (2024-04-29), Pingtan Marine Enterprise's WACC % is 0.00%. Pingtan Marine Enterprise's ROIC % is 0.00% (calculated using TTM income statement data). Pingtan Marine Enterprise earns returns that do not match up to its cost of capital. It will destroy value as it grows.
The historical data trend for Pingtan Marine Enterprise's ROIC % 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.
Pingtan Marine Enterprise Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
ROIC % | Get a 7-Day Free Trial | 16.50 | 12.41 | 6.46 | -0.18 | -1.41 |
Pingtan Marine Enterprise Quarterly Data | ||||||||||||||||||||
Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Jun22 | |
ROIC % | Get a 7-Day Free Trial | -6.72 | 2.90 | 6.14 | -8.21 | - |
For the Farm Products subindustry, Pingtan Marine Enterprise's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Consumer Packaged Goods industry and Consumer Defensive sector, Pingtan Marine Enterprise's ROIC % distribution charts can be found below:
* The bar in red indicates where Pingtan Marine Enterprise's ROIC % falls into.
Pingtan Marine Enterprise's annualized Return on Invested Capital (ROIC %) for the fiscal year that ended in Dec. 2021 is calculated as:
ROIC % (A: Dec. 2021 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (A: Dec. 2020 ) | + | Invested Capital (A: Dec. 2021 )) | / count ) |
= | -6.553 * ( 1 - -0.08% ) | / | ( (441.645 | + | 485.36) | / 2 ) |
= | -6.5582424 | / | 463.5025 | |||
= | -1.41 % |
where
Invested Capital | (A: Dec. 2020 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 463.46 | - | 40.93 | - | ( 0.692 | - | max(0, 133.364 | - | 114.249 | + | 0.692 | )) |
= | 441.645 |
Invested Capital | (A: Dec. 2021 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 576.235 | - | 93.821 | - | ( 5.79 | - | max(0, 243.384 | - | 240.438 | + | 5.79 | )) |
= | 485.36 |
Pingtan Marine Enterprise's annualized Return on Invested Capital (ROIC %) for the quarter that ended in Jun. 2022 is calculated as:
ROIC % (Q: Jun. 2022 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Dec. 2021 ) | + | Invested Capital (Q: Jun. 2022 )) | / count ) |
= | 0 * ( 1 - 0% ) | / | ( (485.36 | + | 514.728) | / 2 ) |
= | 0 | / | 500.044 | |||
= | 0.00 % |
where
Invested Capital | (Q: Dec. 2021 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 576.235 | - | 93.821 | - | ( 5.79 | - | max(0, 243.384 | - | 240.438 | + | 5.79 | )) |
= | 485.36 |
Invested Capital | (Q: Jun. 2022 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 556.03 | - | 114.342 | - | ( 4.054 | - | max(0, 288.602 | - | 215.562 | + | 4.054 | )) |
= | 514.728 |
Note: The Operating Income data used here is four times the quarterly (Jun. 2022) 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.
Pingtan Marine Enterprise (NAS:PME) ROIC % Explanation
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Pingtan Marine Enterprise's WACC % is 0.00%. Pingtan Marine Enterprise's ROIC % is 0.00% (calculated using TTM income statement data).
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Thank you for viewing the detailed overview of Pingtan Marine Enterprise's ROIC % provided by GuruFocus.com. Please click on the following links to see related term pages.
Liming Yung | officer: Chief Financial Officer | 18/F, ZHONGSHAN BUILDING A, NO. 154 HUDONG ROAD, FUZHOU F4 350001 |
Xinrong Zhuo | director, 10 percent owner, officer: Chief Executive Officer | FLOOR 18, TOWER A, ZHONG SHAN BUILDING, NO 154, HUDONG ROAD, GULAU DISTRICT, FUHOO CITY, FUJAN PROVINCE F4 00000 |
Lin Lin | director | 18-19/F, ZHONGSHAN BUILDING A,, NO. 154 HUDONG ROAD, FUZHOU F4 350001 |
Xingan Lin | director | 18-19/F, ZHONGSHAN BUILDING A,, NO. 154 HUDONG ROAD, FUZHOU F4 350001 |
Yang Yu | officer: CFO | 561 XIAN FENG ROAD, HARBIN HEILONGJIANG XX 1540000 |
Yeliang Zhou | director | FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000 |
Zengbiao Zhu | director | FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000 |
Lin Bao | director | FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000 |
Bin Lin | director, officer: Senior Vice President | FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000 |
Jin Shi | director, 10 percent owner, officer: Chief Executive Officer | 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417 |
Teng Zhou | director | 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417 |
Xuesong Song | director, 10 percent owner, officer: Chief Financial Officer | 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417 |
Xuechu He | director | 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417 |
Michael W Zhang | director | A12 JIANGUOMENWAI AVENUE, NCI TOWER SUITE 1602, BEIJING F4 100022 |
Xue Bai | director | A12 JIANGUOMENWAI AVENUE, NCI TOWER SUITE 1602, BEIJING F4 100022 |
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