Artini Holdings (HKSE:00789) ROC % : -15.07% (As of Sep. 2024)

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What is Artini 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 %. Artini Holdings's annualized return on capital (ROC %) for the quarter that ended in Sep. 2024 was -15.07%.

As of today (2025-04-04), Artini Holdings's WACC % is 2.15%. Artini Holdings's ROC % is -14.60% (calculated using TTM income statement data). Artini Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Artini Holdings ROC % Historical Data

The historical data trend for Artini 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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Artini Holdings ROC % Chart

Artini Holdings Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROC %

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11.21

-17.04

-14.87

-0.84

-13.39

Artini Holdings Semi-Annual Data
	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24
ROC %	Get a 7-Day Free Trial															-2.90	0.45	-11.75	-14.29	-15.07

Artini Holdings ROC % Calculation

Artini Holdings's annualized Return on Capital (ROC %) for the fiscal year that ended in Mar. 2024 is calculated as:

	ROC % (A: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Mar. 2023 )	+	Invested Capital (A: Mar. 2024 ))	/ count )
=	-12.823 * ( 1 - -0.44% )	/	( (112.131	+	80.215)	/ 2 )
=	-12.8794212	/	96.173
=	-13.39 %

where

	Invested Capital		(A: Mar. 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	))
=	154.322	-	23.305	-	( 18.886	-	max(0, 23.884	-	126.216	+	18.886	))
=	112.131

	Invested Capital		(A: Mar. 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	))
=	150.209	-	21.712	-	( 48.282	-	max(0, 30.751	-	116.035	+	48.282	))
=	80.215

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

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	-14.438 * ( 1 - 6.87% )	/	( (80.215	+	98.222)	/ 2 )
=	-13.4461094	/	89.2185
=	-15.07 %

where

	Invested Capital		(Q: Mar. 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	))
=	150.209	-	21.712	-	( 48.282	-	max(0, 30.751	-	116.035	+	48.282	))
=	80.215

	Invested Capital		(Q: Sep. 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	))
=	133.789	-	8.414	-	( 27.153	-	max(0, 14.692	-	100.361	+	27.153	))
=	98.222

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

Artini Holdings (HKSE:00789) 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, Artini Holdings's WACC % is 2.15%. Artini Holdings's ROC % is -14.60% (calculated using TTM income statement data). Artini 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.

Artini Holdings ROC % Related Terms

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Artini Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Artini Holdings Ltd (HKSE:00789) » Definitions » ROC %

Traded in Other Exchanges

N/A

Address

1 Austin Road West, Unit No.8502, Level 85, International Commerce Centre, Kowloon, Hong Kong, HKG

Website

http://www.artini.com.hk

Artini Holdings Ltd is engaged in integrated fashion accessories platform business. The activities of the company involve Wholesaling of fashion accessories products mainly through the group's self-operated online platform; and Retail and distribution of fashion accessories products through third-party retail online platforms for retail customers in the PRC and third-party physical points of sale by authorized distributors and consignees in the PRC and Hong Kong, offline wholesale channels for the trading of fashion accessories products to wholesale customers. The group has a business presence in Hong Kong and The PRC, other than Hong Kong and Macao.

Executives

Chen Wei	2201 Interest of corporation controlled by you
Global Venture Capital Limited	2101 Beneficial owner
Li Ailing	2202 Interest of your spouse
Wu Longfan	2201 Interest of corporation controlled by you
Shen Zhen He Xin Gong Sheng Tou Zi He Huo Qi Ye You Xian He Huo	2201 Interest of corporation controlled by you
Shen Zhen Shi Xing Long Tian Ke Ji You Xian Gong Si	2201 Interest of corporation controlled by you
Shen Zhen Shi Huan Qiu Yi Dong Dian Zi You Xian Gong Si	2201 Interest of corporation controlled by you
Shen Zhen Shi Wei Shan Tou Zi Fa Zhan You Xian Gong Si	2201 Interest of corporation controlled by you
Chen Jing Jing	2202 Interest of your spouse
Chen Long	2201 Interest of corporation controlled by you
Lin Chenjie	2202 Interest of your spouse
Fu Xing Tou Zi Fa Zhan Shen Zhen You Xian Gong Si	2201 Interest of corporation controlled by you
Walifax Investments Limited	2101 Beneficial owner
Tse Hoi Chau	2201 Interest of corporation controlled by you
Yu Zhonglian	2202 Interest of your spouse

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