China Natural Gas (China Natural Gas) ROCE % : 2.39% (As of Sep. 2013)

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What is China Natural Gas 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. China Natural Gas's annualized ROCE % for the quarter that ended in Sep. 2013 was 2.39%.

China Natural Gas ROCE % Historical Data

The historical data trend for China Natural Gas'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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China Natural Gas ROCE % Chart

China Natural Gas Annual Data

Trend

Jul03

Jul04

Jul05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

ROCE %

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25.46

15.69

9.89

8.71

6.83

China Natural Gas Quarterly Data
	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
ROCE %	Get a 7-Day Free Trial															-2.01	13.25	10.87	7.47	2.39

China Natural Gas ROCE % Calculation

China Natural Gas's annualized ROCE % for the fiscal year that ended in Dec. 2012 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	15.507	/	( ( (276.984 - 32.171)	+	(288.501 - 79.499) )	/ 2 )
	=	15.507	/	( (244.813	+	209.002)	/ 2 )
	=	15.507	/	226.9075
	=	6.83 %

China Natural Gas's ROCE % of for the quarter that ended in Sep. 2013 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2013 )		(Q: Jun. 2013 )		(Q: Sep. 2013 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2013 )		(Q: Jun. 2013 )		(Q: Sep. 2013 )
	=	5.304	/	( ( (299.496 - 79.23)	+	(307.497 - 84.14) )	/ 2 )
	=	5.304	/	( ( 220.266	+	223.357 )	/ 2 )
	=	5.304	/	221.8115
	=	2.39 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2013) EBIT data.

China Natural Gas (OTCPK:CHNGQ) 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.

China Natural Gas ROCE % Related Terms

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China Natural Gas (China Natural Gas) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » China Natural Gas Inc (OTCPK:CHNGQ) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

35 Tang Yan Road, 19th Floor Building B, Van Metropolis, Hi-Tech Zone, Shaanxi Province, Xian, CHN, 710065

Website

http://www.naturalgaschina.com

China Natural Gas Inc through its subsidiaries engages in sales & distribution of natural gas and gasoline to commercial, industrial & residential customers, construction of pipeline networks, installation of natural gas fittings & parts for end-users.

Executives

Frank Waung	director	72 GREAT HILLS RD., SHORT HILLS NJ 07078
Lawrence W. Leighton	director	TANG XING SHU MA BUILDING, SUITE 418, TANG XING ROAD, XIAN, SHAANXI PROVINCE F4 710065
Xiaogang Zhu	officer: Chief Financial Officer	SUITE 909, TOWER B, CHANG AN INTL BLDG, NO. 88 NAN GUAN ZHEN XIE, XI AN CITY, SHAN XI PROVINCE F4 710068

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