Christine International Holdings (HKSE:01210) ROC % : -15.41% (As of Jun. 2022)

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What is Christine International 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 %. Christine International Holdings's annualized return on capital (ROC %) for the quarter that ended in Jun. 2022 was -15.41%.

As of today (2024-09-26), Christine International Holdings's WACC % is 0.00%. Christine International Holdings's ROC % is 0.00% (calculated using TTM income statement data). Christine International Holdings earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Christine International Holdings ROC % Historical Data

The historical data trend for Christine International 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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Christine International Holdings ROC % Chart

Christine International Holdings Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

ROC %

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-13.66

-18.30

-21.30

-14.80

-14.23

Christine International Holdings Semi-Annual Data
	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22
ROC %	Get a 7-Day Free Trial															-11.89	-18.63	-13.69	-14.51	-15.41

Christine International Holdings ROC % Calculation

Christine International Holdings's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2021 is calculated as:

	ROC % (A: Dec. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2020 )	+	Invested Capital (A: Dec. 2021 ))	/ count )
=	-156.155 * ( 1 - 1.33% )	/	( (1103.345	+	1062.82)	/ 2 )
=	-154.0781385	/	1083.0825
=	-14.23 %

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	))
=	723.285	-	159.633	-	( 75.686	-	max(0, 724.899	-	185.206	+	75.686	))
=	1103.345

	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	))
=	549.062	-	150.632	-	( 21.92	-	max(0, 776.588	-	112.198	+	21.92	))
=	1062.82

Christine International Holdings's annualized Return on Capital (ROC %) for the quarter that ended in Jun. 2022 is calculated as:

	ROC % (Q: Jun. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2021 )	+	Invested Capital (Q: Jun. 2022 ))	/ count )
=	-157.952 * ( 1 - 0% )	/	( (1062.82	+	987.716)	/ 2 )
=	-157.952	/	1025.268
=	-15.41 %

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	))
=	549.062	-	150.632	-	( 21.92	-	max(0, 776.588	-	112.198	+	21.92	))
=	1062.82

	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	))
=	489.299	-	189.877	-	( 25.146	-	max(0, 783.945	-	95.651	+	25.146	))
=	987.716

Note: The Operating Income data used here is two times the semi-annual (Jun. 2022) data.

Christine International Holdings (HKSE:01210) 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, Christine International Holdings's WACC % is 0.00%. Christine International Holdings's ROC % is 0.00% (calculated using TTM income statement data). Christine International 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.

Christine International Holdings ROC % Related Terms

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Christine International Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » Christine International Holdings Ltd (HKSE:01210) » Definitions » ROC %

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 33, Jinshajiang Road, Putuo District, Shanghai, CHN, 200062

Website

http://www.christine.com.cn

Christine International Holdings Ltd is an investment holding company engaged in the operation of a chain of retail bakeries. The company bakes and sells bread, cakes, moon cakes, pastries, and other products. Its bakery products include Pizza Bun, Curry sausage, Bacon Cheese, and others. Geographically, it operates in the People's Republic of China.

Executives

Zhong Guo Zhi Ya Cai Fu Kong Gu Ji Tuan You Xian Gong Si	2101 Beneficial owner
Wu Li Shan	2201 Interest of corporation controlled by you
Zhong Guo Hua Neng Ji Chu Jian She Tou Zi You Xian Gong Si	2101 Beneficial owner
Zhu Yong Ning	2201 Interest of corporation controlled by you
Oriental Petroleum (yangtze) Limited	2101 Beneficial owner
Zhou Yifeng	2201 Interest of corporation controlled by you
Wang Mingxiang	2201 Interest of corporation controlled by you
Matheson Enterprises Limited	2201 Interest of corporation controlled by you
Wang Hao	2201 Interest of corporation controlled by you
Lucky Creation Group Limited	2201 Interest of corporation controlled by you
Add Fortune Ventures Limited	2101 Beneficial owner
China Huaneng Foundation Construction Investment Limted	2101 Beneficial owner
Zhu Yong Ning	2201 Interest of corporation controlled by you
Lin Yu
Hung Dun-ching	2201 Interest of corporation controlled by you

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