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Zhejiang Extek Technology Co (SZSE:301399) Return-on-Tangible-Equity : 4.41% (As of Sep. 2024)


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What is Zhejiang Extek Technology Co Return-on-Tangible-Equity?

Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Zhejiang Extek Technology Co's annualized net income for the quarter that ended in Sep. 2024 was ¥55.3 Mil. Zhejiang Extek Technology Co's average shareholder tangible equity for the quarter that ended in Sep. 2024 was ¥1,252.5 Mil. Therefore, Zhejiang Extek Technology Co's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2024 was 4.41%.

The historical rank and industry rank for Zhejiang Extek Technology Co's Return-on-Tangible-Equity or its related term are showing as below:

SZSE:301399' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 5.54   Med: 35   Max: 38.73
Current: 5.54

During the past 6 years, Zhejiang Extek Technology Co's highest Return-on-Tangible-Equity was 38.73%. The lowest was 5.54%. And the median was 35.00%.

SZSE:301399's Return-on-Tangible-Equity is ranked worse than
58.65% of 2924 companies
in the Industrial Products industry
Industry Median: 7.55 vs SZSE:301399: 5.54

Zhejiang Extek Technology Co Return-on-Tangible-Equity Historical Data

The historical data trend for Zhejiang Extek Technology Co's Return-on-Tangible-Equity 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.

* Premium members only.

Zhejiang Extek Technology Co Return-on-Tangible-Equity Chart

Zhejiang Extek Technology Co Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Return-on-Tangible-Equity
Get a 7-Day Free Trial 36.45 38.73 37.20 33.54 12.42

Zhejiang Extek Technology Co Quarterly Data
Dec18 Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Return-on-Tangible-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.52 8.83 3.30 5.58 4.41

Competitive Comparison of Zhejiang Extek Technology Co's Return-on-Tangible-Equity

For the Specialty Industrial Machinery subindustry, Zhejiang Extek Technology Co's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.


Zhejiang Extek Technology Co's Return-on-Tangible-Equity Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Zhejiang Extek Technology Co's Return-on-Tangible-Equity distribution charts can be found below:

* The bar in red indicates where Zhejiang Extek Technology Co's Return-on-Tangible-Equity falls into.



Zhejiang Extek Technology Co Return-on-Tangible-Equity Calculation

Zhejiang Extek Technology Co's annualized Return-on-Tangible-Equity for the fiscal year that ended in Dec. 2023 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets )/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=101.165/( (349.526+1279.365 )/ 2 )
=101.165/814.4455
=12.42 %

Zhejiang Extek Technology Co's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2024 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets)/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=55.288/( (1250.224+1254.733)/ 2 )
=55.288/1252.4785
=4.41 %

* 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.

In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Sep. 2024) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.


Zhejiang Extek Technology Co  (SZSE:301399) Return-on-Tangible-Equity Explanation

Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.


Be Aware

Net Income is used.

Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.


Zhejiang Extek Technology Co Return-on-Tangible-Equity Related Terms

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Zhejiang Extek Technology Co Business Description

Traded in Other Exchanges
N/A
Address
No. 468, Lesan Road, Dipu Street, Anji County, Zhejiang Province, Huzhou, CHN, 313300
Zhejiang Extek Technology Co Ltd is a high-tech enterprise specializing in the research, development, production and sales of high-efficiency heat exchangers. Its products mainly include high-efficiency new shell-and-tube heat exchangers, and coaxial casing heat Products such as heat exchangers and distributors, as the core components of heat pumps and air conditioners, are widely used in heating, hot water, refrigeration, industrial and agricultural production and other fields.

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