Bangkok Expressway (BKK:BECL-R) ROE %: 31.40% (As of Sep. 2015) — 204% Above Median


What is Bangkok Expressway ROE %?

Bangkok Expressway BKK:BECL-R ROE % is 31.40% as of Sep. 2015, which is 204% above its 10-year median of 10.34. The stock has 2 warning signs investors should review.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Bangkok Expressway's annualized net income for the quarter that ended in Sep. 2015 was ฿6,669.65 Mil. Bangkok Expressway's average Total Stockholders Equity over the quarter that ended in Sep. 2015 was ฿21,239.04 Mil. Therefore, Bangkok Expressway's annualized ROE % for the quarter that ended in Sep. 2015 was 31.40%.

The historical rank and industry rank for Bangkok Expressway's ROE % or its related term are showing as below:

BKK:BECL-R' s ROE % Range Over the Past 10 Years
Min: 7.33   Med: 10.34   Max: 25.59
Current: 18.82

During the past 12 years, Bangkok Expressway's highest ROE % was 25.59%. The lowest was 7.33%. And the median was 10.34%.

BKK:BECL-R's ROE % is not ranked
in the Construction industry.
Industry Median: 6.69 vs BKK:BECL-R: 18.82

Bangkok Expressway  (BKK:BECL-R) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Sep. 2015 )
=Net Income/Total Stockholders Equity
=6669.652/21239.0415
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(6669.652 / 8891.672)*(8891.672 / 56976.711)*(56976.711 / 21239.0415)
=Net Margin %*Asset Turnover*Equity Multiplier
=75.01 %*0.1561*2.6826
=ROA %*Equity Multiplier
=11.71 %*2.6826
=31.40 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Sep. 2015 )
=Net Income/Total Stockholders Equity
=6669.652/21239.0415
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (6669.652 / 8369.424) * (8369.424 / 8369.424) * (8369.424 / 8891.672) * (8891.672 / 56976.711) * (56976.711 / 21239.0415)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 0.7969 * 1 * 94.13 % * 0.1561 * 2.6826
=31.40 %

Note: The net income data used here is four times the quarterly (Sep. 2015) net income data. The Revenue data used here is four times the quarterly (Sep. 2015) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Bangkok Expressway ROE % Related Terms


Bangkok Expressway ROE % Historical Data

* Premium members only.

The historical data trend for Bangkok Expressway's ROE % 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.

Bangkok Expressway ROE % Chart

Bangkok Expressway Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.85 7.46 11.37 26.37 16.21

Bangkok Expressway Quarterly Data
Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.37 20.60 13.32 11.50 31.40

BKK:BECL-R vs GVA, PRIM: ROE % Comparison

For the Engineering & Construction subindustry, Bangkok Expressway's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Bangkok Expressway ROE % vs Construction Industry

For the Construction industry and Industrials sector, Bangkok Expressway's ROE % distribution charts can be found below:

* The bar in red indicates where Bangkok Expressway's ROE % falls into.



Bangkok Expressway ROE % Calculation

Bangkok Expressway's annualized ROE % for the fiscal year that ended in Dec. 2014 is calculated as

ROE %=Net Income (A: Dec. 2014 )/( (Total Stockholders Equity (A: Dec. 2013 )+Total Stockholders Equity (A: Dec. 2014 ))/ count )
=3205.556/( (17989.943+21566.49)/ 2 )
=3205.556/19778.2165
=16.21 %

Bangkok Expressway's annualized ROE % for the quarter that ended in Sep. 2015 is calculated as

ROE %=Net Income (Q: Sep. 2015 )/( (Total Stockholders Equity (Q: Jun. 2015 )+Total Stockholders Equity (Q: Sep. 2015 ))/ count )
=6669.652/( (21277.294+21200.789)/ 2 )
=6669.652/21239.0415
=31.40 %

* 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.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Sep. 2015) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 31.40% mean?
Bangkok Expressway (BKK:BECL-R) has a ROE % of 31.40% as of Sep. 2015. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Bangkok Expressway and its competitors. This is 204% above median its historical median of 10.34. Over the past decade, Bangkok Expressway's ROE % has ranged from 7.33 to 25.59.
Is Bangkok Expressway's ROE % too high?
Bangkok Expressway's current ROE % of 31.40% is 204% above median its 10-year median of 10.34. Over the past 10 years, this metric has ranged from a low of 7.33 to a high of 25.59. The Construction industry median ROE % is 6.69. Bangkok Expressway's value of 31.40% is 369.4% above this industry median.
How does Bangkok Expressway's ROE % compare to GVA and PRIM?
Bangkok Expressway's ROE % of 31.40% can be compared against companies in the Construction industry. The industry median ROE % is 6.69. Bangkok Expressway's value of 31.40% is 369.4% above this benchmark. Historically, Bangkok Expressway's own ROE % has ranged from 7.33 to 25.59 over the past decade. While the company's 10-year median is 10.34 vs. the industry median of 6.69, Bangkok Expressway has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Construction company?
The median ROE % among Construction companies is 6.69, based on 1,743 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bangkok Expressway's current ROE % of 31.40% is 369.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Bangkok Expressway and its competitors. For the Construction industry, the median ROE % is 6.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bangkok Expressway's current ROE % is 31.40%, which is 204% above median its own 10-year median of 10.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bangkok Expressway stock overvalued right now?
Bangkok Expressway (BKK:BECL-R) has a current ROE % of 31.40%. The current ROE % is 31.40%, which is 204% above median its 10-year median of 10.34 and 369.4% above the Construction industry median of 6.69. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Bangkok Expressway (BKK:BECL-R), the current ROE % is 31.40% as of Sep. 2015. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Bangkok Expressway Business Description

Bangkok Expressway Public Company Limited engages in the design, construction, management, and operation of expressways in Thailand. The Company is engaged in the construction and management of Si Rat Expressway (Second Stage Expressway Project) and other extensions, including related businesses under the Second Stage Expressway agreement with the Expressway Authority of Thailand (EXAT); and the Udon Ratthaya Expressway under the Bang Pa-in-Pak Kret Expressway agreement entered into between EXAT and the Company.