Jiangxi First Hydraulic Co (SZSE:301446) ROCE % : 6.46% (As of Mar. 2024)

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What is Jiangxi First Hydraulic 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. Jiangxi First Hydraulic Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 6.46%.

Jiangxi First Hydraulic Co ROCE % Historical Data

The historical data trend for Jiangxi First Hydraulic 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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Jiangxi First Hydraulic Co ROCE % Chart

Jiangxi First Hydraulic Co Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

32.86

66.46

37.92

39.87

10.65

Jiangxi First Hydraulic Co Quarterly Data
	Dec19	Dec20	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial							19.65	15.73	12.35	5.02	6.46

Jiangxi First Hydraulic Co ROCE % Calculation

Jiangxi First Hydraulic 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 )
	=	92.425	/	( ( (743.437 - 201.714)	+	(1314.639 - 120.952) )	/ 2 )
	=	92.425	/	( (541.723	+	1193.687)	/ 2 )
	=	92.425	/	867.705
	=	10.65 %

Jiangxi First Hydraulic Co'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 )
	=	77.628	/	( ( (1314.639 - 120.952)	+	(1313.428 - 102.977) )	/ 2 )
	=	77.628	/	( ( 1193.687	+	1210.451 )	/ 2 )
	=	77.628	/	1202.069
	=	6.46 %

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

Jiangxi First Hydraulic Co (SZSE:301446) 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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Jiangxi First Hydraulic Co (SZSE:301446) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Jiangxi First Hydraulic Co Ltd (SZSE:301446) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 1 Fushite Avenue, Shangrao Economic and Technological Development Zone, Jiangxi, Shangrao, CHN, 334100

Website

http://www.jx-first.com

Jiangxi First Hydraulic Co Ltd is a large-scale hydraulic product manufacturer specializing in the research and development, production and sales of hydraulic pipeline systems.

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