AEHL (Antelope Enterprise Holdings) ROC % : -61.69% (As of Jun. 2024)

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What is Antelope Enterprise Holdings ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Antelope Enterprise Holdings's annualized return on capital (ROC %) for the quarter that ended in Jun. 2024 was -61.69%.

As of today (2024-12-14), Antelope Enterprise Holdings's WACC % is 12.09%. Antelope Enterprise Holdings's ROC % is -65.06% (calculated using TTM income statement data). Antelope Enterprise Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Antelope Enterprise Holdings ROC % Historical Data

The historical data trend for Antelope Enterprise Holdings's ROC % 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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Antelope Enterprise Holdings ROC % Chart

Antelope Enterprise Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROC %

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14.67

-3.69

-6.77

-10.43

-84.33

Antelope Enterprise Holdings Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROC %	Get a 7-Day Free Trial															-36.47	19.90	-84.65	-84.05	-61.69

Antelope Enterprise Holdings ROC % Calculation

Antelope Enterprise Holdings's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2023 is calculated as:

	ROC % (A: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2022 )	+	Invested Capital (A: Dec. 2023 ))	/ count )
=	-12.426 * ( 1 - -0.1% )	/	( (13.493	+	16.007)	/ 2 )
=	-12.438426	/	14.75
=	-84.33 %

where

	Invested Capital		(A: Dec. 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	))
=	15.945	-	0.646	-	( 1.806	-	max(0, 13.713	-	15.73	+	1.806	))
=	13.493

	Invested Capital		(A: Dec. 2023 )
=	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	))
=	17.14	-	0.497	-	( 0.636	-	max(0, 1.674	-	4.829	+	0.636	))
=	16.007

Antelope Enterprise Holdings's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2024 is calculated as:

	ROC % (Q: Jun. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Jun. 2024 ))	/ count )
=	-12.124 * ( 1 - -0.03% )	/	( (16.007	+	23.31)	/ 2 )
=	-12.1276372	/	19.6585
=	-61.69 %

where

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	17.14	-	0.497	-	( 0.636	-	max(0, 1.674	-	4.829	+	0.636	))
=	16.007

	Invested Capital		(Q: Jun. 2024 )
=	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	))
=	28.164	-	2.532	-	( 2.322	-	max(0, 3.658	-	9.483	+	2.322	))
=	23.31

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

Antelope Enterprise Holdings (NAS:AEHL) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. 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 ROC % 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, Antelope Enterprise Holdings's WACC % is 12.09%. Antelope Enterprise Holdings's ROC % is -65.06% (calculated using TTM income statement data). Antelope Enterprise Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % 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.

Antelope Enterprise Holdings ROC % Related Terms

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Antelope Enterprise Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Antelope Enterprise Holdings Ltd (NAS:AEHL) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

N/A

Address

350 Fifth Avenue, Suite 7540, The Empire State Building, Sichuan Province, New York, NY, USA

Website

http://www.aehl-kylin.com

Antelope Enterprise Holdings Ltd is a manufacturer of ceramic tiles in China. Its ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. The company's products are Porcelain, Glazed, Glazed porcelain, Rustic, and polished glazed tiles. The Company operates in the manufacturing and sale of medium to high-end ceramic tiles and providing business management consulting, information system technology consulting services including the sales of software use rights for digital data deposit platforms and asset management systems, and online social media platform development and consulting.

Executives

Nisswa Acquisition Master Fund Ltd.	other: no longer 10% owner	C/O MAPLES CORPORATE SVCS LIMITED, PO BOX 309, UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104
Pine River Capital Management L.p.	other: no longer 10% owner	601 CARLSON PARKWAY, 7TH FLOOR, MINNETONKA MN 55305
Brian Taylor	other: no longer 10% owner	C/O PINE RIVER CAPITAL MANAGEMENT, 601 CARLSON PARKWAY, 7TH FLOOR, MINNETONKA MN 55305