Tsingtao Brewery Co (SHSE:600600) ROCE % : -10.25% (As of Dec. 2023)

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What is Tsingtao Brewery 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. Tsingtao Brewery Co's annualized ROCE % for the quarter that ended in Dec. 2023 was -10.25%.

Tsingtao Brewery Co ROCE % Historical Data

The historical data trend for Tsingtao Brewery 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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Tsingtao Brewery Co ROCE % Chart

Tsingtao Brewery Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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11.93

13.04

16.60

17.04

18.30

Tsingtao Brewery Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-9.33	25.08	33.19	24.56	-10.25

Tsingtao Brewery Co ROCE % Calculation

Tsingtao Brewery 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 )
	=	5762.838	/	( ( (50311.7 - 19671.789)	+	(49256.011 - 16918.48) )	/ 2 )
	=	5762.838	/	( (30639.911	+	32337.531)	/ 2 )
	=	5762.838	/	31488.721
	=	18.30 %

Tsingtao Brewery Co's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-3356.464	/	( ( (49750.53 - 16588.01)	+	(49256.011 - 16918.48) )	/ 2 )
	=	-3356.464	/	( ( 33162.52	+	32337.531 )	/ 2 )
	=	-3356.464	/	32750.0255
	=	-10.25 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Tsingtao Brewery Co (SHSE:600600) 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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Tsingtao Brewery Co (SHSE:600600) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Tsingtao Brewery Co Ltd (SHSE:600600) » Definitions » ROCE %

Traded in Other Exchanges

TSGTY:USA TSGTF:USA 00168:Hong Kong TSI:Germany

Address

No. 35, Donghai West Road, Tsingtao Beer Tower, Shandong Province, Qingdao, CHN, 266071

Website

https://www.tsingtao.com

With over 100 years of history, Tsingtao Brewery has become one of the leading brewers in China with its namesake Tsingtao brand. The company has a dominant position in its core market, Shandong province, which contributed over 60% of its revenue and net profit in 2022. Unlike other major brewers, Tsingtao Brewery's brand umbrellas consist entirely of domestic brands. The Tsingtao brand has a mid-range to high-end market positioning and contributed over half of its volume whereas the mass market Laoshan brand targets the mainstream segment, with a declining volume mix as the company sought to premiumize its portfolio in recent years.

Tsingtao Brewery Co (SHSE:600600) Headlines

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