China Automotive Systems (STU:RYV) ROCE % : 12.22% (As of Mar. 2024)

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What is China Automotive Systems 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. China Automotive Systems's annualized ROCE % for the quarter that ended in Mar. 2024 was 12.22%.

China Automotive Systems ROCE % Historical Data

The historical data trend for China Automotive Systems'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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China Automotive Systems ROCE % Chart

China Automotive Systems Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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3.04

-2.85

2.84

7.07

13.26

China Automotive Systems 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															9.85	15.30	12.92	16.13	12.22

China Automotive Systems ROCE % Calculation

China Automotive Systems'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 )
	=	45.168	/	( ( (674.348 - 343.8)	+	(702.825 - 351.889) )	/ 2 )
	=	45.168	/	( (330.548	+	350.936)	/ 2 )
	=	45.168	/	340.742
	=	13.26 %

China Automotive Systems'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 )
	=	44.316	/	( ( (702.825 - 351.889)	+	(709.018 - 334.594) )	/ 2 )
	=	44.316	/	( ( 350.936	+	374.424 )	/ 2 )
	=	44.316	/	362.68
	=	12.22 %

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

China Automotive Systems (STU:RYV) 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.

China Automotive Systems ROCE % Related Terms

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China Automotive Systems (STU:RYV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » China Automotive Systems Inc (STU:RYV) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CAAS:USA RYV:Germany

Address

No. 1 Henglong Road, Yu Qiao Development Zone, Shashi District, Hubei Province, Jing Zhou, CHN, 434000

Website

http://www.caasauto.com

China Automotive Systems Inc is a holding company. The firm through its subsidiary is a supplier of power steering systems and components to China's automotive industry. Its product offering encompasses a full range of auto parts incorporated into steering systems for both passenger automobiles and commercial vehicles. The company offers four separate series, more than 310 models of power steering including rack and pinion power steering, integral power steering, electronic power steering and manual steering, steering columns, steering oil pumps, and steering hoses. Geographically, it derives a majority of revenue from China.

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