Air China (HKSE:00753) ROCE % : -0.44% (As of Mar. 2024)

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What is Air China 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. Air China's annualized ROCE % for the quarter that ended in Mar. 2024 was -0.44%.

Air China ROCE % Historical Data

The historical data trend for Air China'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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Air China ROCE % Chart

Air China Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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6.63

-6.57

-8.09

-18.35

2.45

Air China Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															-2.97	1.31	12.25	-1.76	-0.44

Air China ROCE % Calculation

Air China'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 )
	=	5778.084	/	( ( (329443.5 - 103276.69)	+	(366746.993 - 120662.705) )	/ 2 )
	=	5778.084	/	( (226166.81	+	246084.288)	/ 2 )
	=	5778.084	/	236125.549
	=	2.45 %

Air China'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 )
	=	-1073.612	/	( ( (366746.993 - 120662.705)	+	(370772.893 - 133737.677) )	/ 2 )
	=	-1073.612	/	( ( 246084.288	+	237035.216 )	/ 2 )
	=	-1073.612	/	241559.752
	=	-0.44 %

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

Air China (HKSE:00753) 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.

Air China ROCE % Related Terms

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Air China (HKSE:00753) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Air China Ltd (HKSE:00753) » Definitions » ROCE %

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Traded in Other Exchanges

AIRYY:USA AICAF:USA AD2:Germany AD2:Germany 601111:China AD2:Austria

Address

30 Tianzhu Road, Airport Industrial Zone, Blue Sky Mansion, Shunyi District, Beijing, CHN, 101312

Website

http://www.airchina.com.cn

Air China is based in Beijing. It is one of the largest state-owned airlines and the flag carrier in China. The group operated a fleet of 762 aircraft as of 2022 and carried more than 115 million passengers in prepandemic 2019. It runs a spoke-and-hub model under which it gathers and distributes passengers from air hubs such as Beijing, Chengdu, and Shanghai. The group's route network extends to over 187 destinations and 43 countries and regions.

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