Weihai Tiangang Instrument Co (BJSE:832651) ROCE % : 4.51% (As of Mar. 2024)

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What is Weihai Tiangang Instrument 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. Weihai Tiangang Instrument Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 4.51%.

Weihai Tiangang Instrument Co ROCE % Historical Data

The historical data trend for Weihai Tiangang Instrument 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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Weihai Tiangang Instrument Co ROCE % Chart

Weihai Tiangang Instrument Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROCE %

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17.69

20.15

20.25

21.89

17.57

Weihai Tiangang Instrument Co Quarterly Data
	Dec17	Jun18	Dec18	Jun19	Sep19	Dec19	Jun20	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															8.94	15.85	21.07	16.86	4.51

Weihai Tiangang Instrument Co ROCE % Calculation

Weihai Tiangang Instrument Co's annualized ROCE % for the fiscal year that ended in Dec. 2022 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2022 )		(A: Dec. 2021 )		(A: Dec. 2022 )
	=	61.793	/	( ( (491.905 - 149.284)	+	(513.777 - 152.994) )	/ 2 )
	=	61.793	/	( (342.621	+	360.783)	/ 2 )
	=	61.793	/	351.702
	=	17.57 %

Weihai Tiangang Instrument 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 )
	=	22.816	/	( ( (660.654 - 159.015)	+	(653.343 - 143.514) )	/ 2 )
	=	22.816	/	( ( 501.639	+	509.829 )	/ 2 )
	=	22.816	/	505.734
	=	4.51 %

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

Weihai Tiangang Instrument Co (BJSE:832651) 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.

Weihai Tiangang Instrument Co ROCE % Related Terms

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Weihai Tiangang Instrument Co (BJSE:832651) Business Description

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Address

No. 28-1, Hengrui Street, Weihai High-tech Industrial Development Zone, Huancui District, Shandong Province, Weihai City, CHN, 264200

Website

http://www.plou.cn

Weihai Tiangang Instrument Co Ltd engages in research and development, production, and sales of IoT ultrasonic measuring instruments such as ultrasonic heat meters, ultrasonic flow sensors, data transmission products, and ultrasonic water meters.

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