Tung Ho Steel Enterprise (TPE:2006) ROCE % : 18.67% (As of Mar. 2024)

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What is Tung Ho Steel Enterprise 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. Tung Ho Steel Enterprise's annualized ROCE % for the quarter that ended in Mar. 2024 was 18.67%.

Tung Ho Steel Enterprise ROCE % Historical Data

The historical data trend for Tung Ho Steel Enterprise'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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Tung Ho Steel Enterprise ROCE % Chart

Tung Ho Steel Enterprise Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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7.67

14.94

23.80

17.14

19.69

Tung Ho Steel Enterprise 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															19.39	20.83	19.96	21.68	18.67

Tung Ho Steel Enterprise ROCE % Calculation

Tung Ho Steel Enterprise'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 )
	=	6436.72	/	( ( (54766.547 - 22605.252)	+	(56378.88 - 23146.735) )	/ 2 )
	=	6436.72	/	( (32161.295	+	33232.145)	/ 2 )
	=	6436.72	/	32696.72
	=	19.69 %

Tung Ho Steel Enterprise'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 )
	=	5999.416	/	( ( (56378.88 - 23146.735)	+	(56677.763 - 25658.195) )	/ 2 )
	=	5999.416	/	( ( 33232.145	+	31019.568 )	/ 2 )
	=	5999.416	/	32125.8565
	=	18.67 %

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

Tung Ho Steel Enterprise (TPE:2006) 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.

Tung Ho Steel Enterprise ROCE % Related Terms

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Tung Ho Steel Enterprise (TPE:2006) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Tung Ho Steel Enterprise Corp (TPE:2006) » Definitions » ROCE %

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Traded in Other Exchanges

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Address

Chang-an East Road, 6th Floor, No. 9, Section 1, Taipei, TWN, 10441

Website

https://www.tunghosteel.com

Tung Ho Steel Enterprise Corp is a Taiwan-based company that is primarily engaged in the manufacturing and distribution of steel products. The company's product portfolio includes rebar, which is primarily applied in building projects, including high-rises, factories, public construction, and social welfare initiatives; steel section, which is used in buildings (steel structures) and other construction projects (bridges, ships, vehicles, and so on); and steel plate, which is broadly utilized in factories, logistics warehouses, office and residential buildings, bridges, and other buildings. Rebar and steel section account for the majority of the company's revenue. The company generates most of its sales from the Taiwan domestic market.

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