Hangzhou Zhengqiang (SZSE:301119) ROCE % : 13.15% (As of Sep. 2024)

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What is Hangzhou Zhengqiang 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. Hangzhou Zhengqiang's annualized ROCE % for the quarter that ended in Sep. 2024 was 13.15%.

Hangzhou Zhengqiang ROCE % Historical Data

The historical data trend for Hangzhou Zhengqiang'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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Hangzhou Zhengqiang ROCE % Chart

Hangzhou Zhengqiang Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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16.14

14.54

9.59

13.21

12.13

Hangzhou Zhengqiang 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															15.41	10.54	8.73	8.76	13.15

Hangzhou Zhengqiang ROCE % Calculation

Hangzhou Zhengqiang'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 )
	=	113.817	/	( ( (1091.009 - 205.58)	+	(1157.939 - 166.479) )	/ 2 )
	=	113.817	/	( (885.429	+	991.46)	/ 2 )
	=	113.817	/	938.4445
	=	12.13 %

Hangzhou Zhengqiang'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 )
	=	135.792	/	( ( (1326.594 - 308.458)	+	(1397.86 - 351.052) )	/ 2 )
	=	135.792	/	( ( 1018.136	+	1046.808 )	/ 2 )
	=	135.792	/	1032.472
	=	13.15 %

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

Hangzhou Zhengqiang (SZSE:301119) 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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Hangzhou Zhengqiang Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Hangzhou Zhengqiang Corp Ltd (SZSE:301119) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

Zhangpanqiao Village, Shushan Street, Zhejiang Province, Xiaoshan, CHN, 311201

Website

http://www.zhengqiang.com

Hangzhou Zhengqiang Corp Ltd is engaged in the research and development, production and sales of automobile cross shaft universal joint assembly, joint fork and related parts.

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