Meituan (HKSE:03690) ROCE % : 30.11% (As of Sep. 2024)

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What is Meituan 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. Meituan's annualized ROCE % for the quarter that ended in Sep. 2024 was 30.11%.

Meituan ROCE % Historical Data

The historical data trend for Meituan'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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Meituan ROCE % Chart

Meituan Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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3.16

4.67

-15.85

-2.90

8.49

Meituan Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															8.56	5.69	12.00	24.97	30.11

Meituan ROCE % Calculation

Meituan'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 )
	=	16894.204	/	( ( (273015.745 - 85350.614)	+	(320509.624 - 110333.955) )	/ 2 )
	=	16894.204	/	( (187665.131	+	210175.669)	/ 2 )
	=	16894.204	/	198920.4
	=	8.49 %

Meituan's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	62592.624	/	( ( (307416.002 - 101470.628)	+	(314818.292 - 104992.962) )	/ 2 )
	=	62592.624	/	( ( 205945.374	+	209825.33 )	/ 2 )
	=	62592.624	/	207885.352
	=	30.11 %

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

Meituan (HKSE:03690) 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.

Meituan ROCE % Related Terms

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Meituan Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Meituan (HKSE:03690) » Definitions » ROCE %

Comparable Companies

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MPNGY:USA MPNGF:USA 9MD:Germany

Address

No. 4 Wang Jing East Road, Block B and C, Hengjiweiye Building, Chaoyang District, Beijing, CHN, 100102

Website

https://about.meituan.com

Meituan is the largest food delivery service in China, with a 70.7% share of the market in 2020 per the Chinese government. For the year ended 2023, the firm generated 58% of revenue from on-demand services, 17% from hotel booking, coupon sales, advertising, and 25% from new initiatives. In the long term, its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, overtaking food delivery as its main business.

Executives

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Wang Xing
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Brown Brothers Harriman & Co.	2502 Approved lending agent
Mu Rongjun
Tencent Holdings Limited
Cantrust (far East) Limited
Crown Holdings Asia Limited	2101 Beneficial owner
Songtao Limited	2201 Interest of corporation controlled by you
Charmway Enterprises Company Limited	2101 Beneficial owner
Day One Holdings Limited	2201 Interest of corporation controlled by you
Huai River Investment Limited
Tencent Mobility Limited

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