China National Accord Medicines (SZSE:000028) ROCE % : 10.29% (As of Mar. 2024)

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What is China National Accord Medicines 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 National Accord Medicines's annualized ROCE % for the quarter that ended in Mar. 2024 was 10.29%.

China National Accord Medicines ROCE % Historical Data

The historical data trend for China National Accord Medicines'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 National Accord Medicines ROCE % Chart

China National Accord Medicines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.59

13.27

11.39

12.25

12.14

China National Accord Medicines 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															11.71	13.78	10.75	12.51	10.29

China National Accord Medicines ROCE % Calculation

China National Accord Medicines'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 )
	=	2721.608	/	( ( (42615.761 - 21027.599)	+	(47571.095 - 24338.224) )	/ 2 )
	=	2721.608	/	( (21588.162	+	23232.871)	/ 2 )
	=	2721.608	/	22410.5165
	=	12.14 %

China National Accord Medicines'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 )
	=	2419.984	/	( ( (47571.095 - 24338.224)	+	(51524.997 - 27722.116) )	/ 2 )
	=	2419.984	/	( ( 23232.871	+	23802.881 )	/ 2 )
	=	2419.984	/	23517.876
	=	10.29 %

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

China National Accord Medicines (SZSE:000028) 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 National Accord Medicines ROCE % Related Terms

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China National Accord Medicines (SZSE:000028) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Distribution » China National Accord Medicines Corp Ltd (SZSE:000028) » Definitions » ROCE %

Comparable Companies

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200028:China

Address

No. 15, Ba Gua Si 4th Road, Accord Pharmaceutical Building, Futian District, Guangdong Province, Shenzhen, CHN, 518029

Website

http://www.szaccord.com.cn

China National Accord Medicines Corp Ltd develops and manufactures pharmaceuticals in China. The company engaged in the wholesale of Chinese patent drugs, traditional Chinese medicines, chemical medicine preparations, antibiotics, biochemical drugs and cerebrovascular system drugs. It operates through the following segments: The Head office segment engages in investing and managing the business; The Pharmaceutical Distribution segment engages in the distribution of medicine and pharmaceutical products to customers, including hospitals, other distributors, retail drug stores, and clinics, and Retail pharmacy segment, which is managing the operation of Guoda Pharmacy. It generates maximum revenue from the Pharmaceutical Distribution segment.

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