Qingdao Taide Automobile Bearing Co (BJSE:831278) ROCE % : 6.99% (As of Mar. 2024)

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What is Qingdao Taide Automobile Bearing Co ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Qingdao Taide Automobile Bearing Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 6.99%.

Qingdao Taide Automobile Bearing Co ROCE % Historical Data

The historical data trend for Qingdao Taide Automobile Bearing Co's ROCE % 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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Qingdao Taide Automobile Bearing Co ROCE % Chart

Qingdao Taide Automobile Bearing Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.77

15.08

14.59

7.22

2.58

Qingdao Taide Automobile Bearing Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															2.70	-1.42	3.96	5.19	6.99

Qingdao Taide Automobile Bearing Co ROCE % Calculation

Qingdao Taide Automobile Bearing Co's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	9.545	/	( ( (498.299 - 126.072)	+	(509.416 - 140.809) )	/ 2 )
	=	9.545	/	( (372.227	+	368.607)	/ 2 )
	=	9.545	/	370.417
	=	2.58 %

Qingdao Taide Automobile Bearing Co's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	25.956	/	( ( (509.416 - 140.809)	+	(511.406 - 137.742) )	/ 2 )
	=	25.956	/	( ( 368.607	+	373.664 )	/ 2 )
	=	25.956	/	371.1355
	=	6.99 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Qingdao Taide Automobile Bearing Co (BJSE:831278) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Qingdao Taide Automobile Bearing Co (BJSE:831278) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Qingdao Taide Automobile Bearing Co Ltd (BJSE:831278) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

No. 10 Xinghua Road, Licang District, Shandong Province, Qingdao City, CHN, 266041

Website

http://www.qdtaide.com

Qingdao Taide Automobile Bearing Co Ltd engages in the manufacturing and sales of high-precision special bearings for automobiles. It mainly produces high-quality automotive engine gear with specially used bearings: Automobile Air-condition compressor electromagnetic clutch bearing, tension bearing and unit for automotive engine, idler bearing, and unit, automotive engine intelligence fan clutch bearing, automotive silicone oil fan clutch bearing, automotive water pump bearing, precision bearing used in automotive engine auxiliary device, mower bearing.

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