Fujian Tietuo Machinery Co (BJSE:873706) ROCE % : 14.06% (As of Mar. 2024)

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What is Fujian Tietuo Machinery 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. Fujian Tietuo Machinery Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 14.06%.

Fujian Tietuo Machinery Co ROCE % Historical Data

The historical data trend for Fujian Tietuo Machinery 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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Fujian Tietuo Machinery Co ROCE % Chart

Fujian Tietuo Machinery Co Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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21.65

16.94

6.30

14.74

19.52

Fujian Tietuo Machinery Co Quarterly Data
	Dec17	Dec18	Dec19	Mar20	Sep20	Dec20	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial												18.64	30.77	17.03	12.03	14.06

Fujian Tietuo Machinery Co ROCE % Calculation

Fujian Tietuo Machinery 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 )
	=	71.562	/	( ( (531.796 - 190.499)	+	(547.866 - 156.112) )	/ 2 )
	=	71.562	/	( (341.297	+	391.754)	/ 2 )
	=	71.562	/	366.5255
	=	19.52 %

Fujian Tietuo Machinery 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 )
	=	65.124	/	( ( (547.866 - 156.112)	+	(702.013 - 167.579) )	/ 2 )
	=	65.124	/	( ( 391.754	+	534.434 )	/ 2 )
	=	65.124	/	463.094
	=	14.06 %

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

Fujian Tietuo Machinery Co (BJSE:873706) 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.

Fujian Tietuo Machinery Co ROCE % Related Terms

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Fujian Tietuo Machinery Co (BJSE:873706) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Fujian Tietuo Machinery Co Ltd (BJSE:873706) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 1, Luojiang District Intelligent Equipment Industrial Park, Heshi Town, Luojiang District, Fujian, Quanzhou, CHN, 362013

Website

http://www.fjttm.com

Fujian Tietuo Machinery Co Ltd is engaged in research & development, production, sales and service of asphalt mixing equipment and supporting equipment.

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