CITIC Envirotech (TPE:911610) ROCE % : 2.83% (As of Sep. 2019)

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What is CITIC Envirotech 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. CITIC Envirotech's annualized ROCE % for the quarter that ended in Sep. 2019 was 2.83%.

CITIC Envirotech ROCE % Historical Data

The historical data trend for CITIC Envirotech'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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CITIC Envirotech ROCE % Chart

CITIC Envirotech Annual Data

Trend

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

Mar15

Dec16

Dec17

Dec18

ROCE %

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9.29

12.54

10.98

6.97

8.75

CITIC Envirotech Quarterly Data
	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19
ROCE %	Get a 7-Day Free Trial															7.65	2.57	3.92	6.19	2.83

CITIC Envirotech ROCE % Calculation

CITIC Envirotech's annualized ROCE % for the fiscal year that ended in Dec. 2018 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2018 )		(A: Dec. 2017 )		(A: Dec. 2018 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2018 )		(A: Dec. 2017 )		(A: Dec. 2018 )
	=	4546.26	/	( ( (72946.283 - 23747.653)	+	(85058.941 - 30321.096) )	/ 2 )
	=	4546.26	/	( (49198.63	+	54737.845)	/ 2 )
	=	4546.26	/	51968.2375
	=	8.75 %

CITIC Envirotech's ROCE % of for the quarter that ended in Sep. 2019 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2019 )		(Q: Jun. 2019 )		(Q: Sep. 2019 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2019 )		(Q: Jun. 2019 )		(Q: Sep. 2019 )
	=	1993.276	/	( ( (94809.505 - 25817.478)	+	(93821.712 - 21961.785) )	/ 2 )
	=	1993.276	/	( ( 68992.027	+	71859.927 )	/ 2 )
	=	1993.276	/	70425.977
	=	2.83 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2019) EBIT data.

CITIC Envirotech (TPE:911610) 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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CITIC Envirotech (TPE:911610) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » CITIC Envirotech Ltd (TPE:911610) » Definitions » ROCE %

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Address

10 Science Park Road, No. 01-01 The Alpha, Singapore, SGP, 117684

Website

http://www.citicenvirotech.com

CITIC Envirotech Ltd is a provider of membrane-based integrated environmental solutions. The company manufactures membrane products whose technologies are applied for the treatment and recycling of wastewater. Its principal activities include design, fabrication, installation, and commissioning of water and wastewater systems. The company operates through two segments. Its Engineering and membrane system comprises of Engineering and Membrane system sales. The Treatment segment is engaged in the rendering of wastewater treatment services and the Membrane manufacturing and sales segment manufactures and sells polymers. The company's geographical area of operation includes the People's Republic of China, the United States of America and Malaysia.

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