Zhejiang Zhongxin Environmental Protection Technology Group Co (SHSE:603091) ROCE % : 28.23% (As of Sep. 2024)

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What is Zhejiang Zhongxin Environmental Protection Technology Group 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. Zhejiang Zhongxin Environmental Protection Technology Group Co's annualized ROCE % for the quarter that ended in Sep. 2024 was 28.23%.

Zhejiang Zhongxin Environmental Protection Technology Group Co ROCE % Historical Data

The historical data trend for Zhejiang Zhongxin Environmental Protection Technology Group 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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Zhejiang Zhongxin Environmental Protection Technology Group Co ROCE % Chart

Zhejiang Zhongxin Environmental Protection Technology Group Co Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

57.97

50.05

28.62

30.02

27.35

Zhejiang Zhongxin Environmental Protection Technology Group Co Quarterly Data
	Dec19	Dec20	Dec21	Mar22	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial							-	23.48	27.13	-	28.23

Zhejiang Zhongxin Environmental Protection Technology Group Co ROCE % Calculation

Zhejiang Zhongxin Environmental Protection Technology Group 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 )
	=	277.448	/	( ( (1237.649 - 345.099)	+	(1507.286 - 370.798) )	/ 2 )
	=	277.448	/	( (892.55	+	1136.488)	/ 2 )
	=	277.448	/	1014.519
	=	27.35 %

Zhejiang Zhongxin Environmental Protection Technology Group Co'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 )
	=	472.688	/	( ( (1775.515 - 440.337)	+	(2516.973 - 503.624) )	/ 2 )
	=	472.688	/	( ( 1335.178	+	2013.349 )	/ 2 )
	=	472.688	/	1674.2635
	=	28.23 %

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

Zhejiang Zhongxin Environmental Protection Technology Group Co (SHSE:603091) 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.

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Zhejiang Zhongxin Environmental Protection Technology Group Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Zhejiang Zhongxin Environmental Protection Technology Group Co Ltd (SHSE:603091) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

No. 1, Yongsheng Road, Yongchang Street, Lanxi, Zhejiang Province, Jinhua, CHN, 321100

Website

https://www.zhongxinpacking.cn

Zhejiang Zhongxin Environmental Protection Technology Group Co Ltd is engaged in Research and development, production and sales of naturally degradable plant fiber molding products.

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