Mingxin New Material Co (SHSE:605068) ROCE % : 2.22% (As of Sep. 2024)

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What is Mingxin New Material 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. Mingxin New Material Co's annualized ROCE % for the quarter that ended in Sep. 2024 was 2.22%.

Mingxin New Material Co ROCE % Historical Data

The historical data trend for Mingxin New Material 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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Mingxin New Material Co ROCE % Chart

Mingxin New Material Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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34.83

19.59

10.09

5.96

3.64

Mingxin New Material Co 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															4.59	5.04	3.36	1.22	2.22

Mingxin New Material Co ROCE % Calculation

Mingxin New Material 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 )
	=	100.386	/	( ( (3323.656 - 609.037)	+	(3439.73 - 631.186) )	/ 2 )
	=	100.386	/	( (2714.619	+	2808.544)	/ 2 )
	=	100.386	/	2761.5815
	=	3.64 %

Mingxin New Material 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 )
	=	61.476	/	( ( (3550.667 - 777.255)	+	(3656.397 - 894.952) )	/ 2 )
	=	61.476	/	( ( 2773.412	+	2761.445 )	/ 2 )
	=	61.476	/	2767.4285
	=	2.22 %

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

Mingxin New Material Co (SHSE:605068) 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.

Mingxin New Material Co ROCE % Related Terms

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Mingxin New Material Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Mingxin New Material Co Ltd (SHSE:605068) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

Mingxin Road, No. 188, Daqiao Town, Nanhu District, Zhejiang Province, Jiaxing, CHN, 314006

Website

http://www.mingxinleather.com

Mingxin New Material Co Ltd is engaged in development, production and sales of automotive leather. The company's product is automotive interior leather, which is mainly used in automotive interior products such as seats, steering wheels, instrument panels, door panels and other high-end passenger cars.

Executives

Liu Xian Jun	Directors, senior managers
Zhao Cheng Jin	senior management
Xu Xing Chun	Director
Shen Dan	senior management
Lv Qing Qing	senior management
Zhuang Jun Xin	Director
Yu Hai Jie	Director

Mingxin New Material Co Headlines

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