Dawnrays Pharmaceutical (Holdings) (HKSE:02348) ROCE % : 35.02% (As of Jun. 2024)

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What is Dawnrays Pharmaceutical (Holdings) 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. Dawnrays Pharmaceutical (Holdings)'s annualized ROCE % for the quarter that ended in Jun. 2024 was 35.02%.

Dawnrays Pharmaceutical (Holdings) ROCE % Historical Data

The historical data trend for Dawnrays Pharmaceutical (Holdings)'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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Dawnrays Pharmaceutical (Holdings) ROCE % Chart

Dawnrays Pharmaceutical (Holdings) Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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15.01

15.08

17.64

15.57

14.43

Dawnrays Pharmaceutical (Holdings) Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
ROCE %	Get a 7-Day Free Trial															16.42	15.16	22.93	5.96	35.02

Dawnrays Pharmaceutical (Holdings) ROCE % Calculation

Dawnrays Pharmaceutical (Holdings)'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 )
	=	453.969	/	( ( (4101.294 - 1040.842)	+	(3962.388 - 731.672) )	/ 2 )
	=	453.969	/	( (3060.452	+	3230.716)	/ 2 )
	=	453.969	/	3145.584
	=	14.43 %

Dawnrays Pharmaceutical (Holdings)'s ROCE % of for the quarter that ended in Jun. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2024 )		(Q: Dec. 2023 )		(Q: Jun. 2024 )
	=	1204.462	/	( ( (3962.388 - 731.672)	+	(4354.127 - 706.054) )	/ 2 )
	=	1204.462	/	( ( 3230.716	+	3648.073 )	/ 2 )
	=	1204.462	/	3439.3945
	=	35.02 %

(1) Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

Dawnrays Pharmaceutical (Holdings) (HKSE:02348) 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.

Dawnrays Pharmaceutical (Holdings) ROCE % Related Terms

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Dawnrays Pharmaceutical (Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Dawnrays Pharmaceutical (Holdings) Ltd (HKSE:02348) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

338 Hennessy Road, Units 3001-02, 30th Floor, CNT Tower, Wanchai, North Sea Centre, Hong Kong, HKG

Website

https://www.dawnrays.com

Dawnrays Pharmaceutical (Holdings) Ltd is a drug manufacturing company. The company operates two segments, including Intermediates and Bulk Medicines, and Finished Drugs. The revenue is derived from the Finished Drugs segment. Nearly all of the company's sales are generated in Mainland China. It utilizes strategic partnerships as a component of its international strategies. The company is open to exploring potential acquisitions as a component of its overall growth plan.

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