Tonking New Energy Group Holdings (HKSE:08326) ROCE % : 4.75% (As of Sep. 2023)

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What is Tonking New Energy Group Holdings 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. Tonking New Energy Group Holdings's annualized ROCE % for the quarter that ended in Sep. 2023 was 4.75%.

Tonking New Energy Group Holdings ROCE % Historical Data

The historical data trend for Tonking New Energy Group Holdings'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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Tonking New Energy Group Holdings ROCE % Chart

Tonking New Energy Group Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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17.45

7.70

-2.02

3.32

16.09

Tonking New Energy Group Holdings Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
ROCE %	Get a 7-Day Free Trial															16.99	17.80	18.90	17.07	4.75

Tonking New Energy Group Holdings ROCE % Calculation

Tonking New Energy Group Holdings's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	41.214	/	( ( (423.189 - 169.005)	+	(516.083 - 258.051) )	/ 2 )
	=	41.214	/	( (254.184	+	258.032)	/ 2 )
	=	41.214	/	256.108
	=	16.09 %

Tonking New Energy Group Holdings's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Jun. 2023 )		(Q: Sep. 2023 )
	=	12.572	/	( ( (0 - 0)	+	(494.704 - 230.062) )	/ 1 )
	=	12.572	/	( ( 0	+	264.642 )	/ 1 )
	=	12.572	/	264.642
	=	4.75 %

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

Tonking New Energy Group Holdings (HKSE:08326) 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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Tonking New Energy Group Holdings (HKSE:08326) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Tonking New Energy Group Holdings Ltd (HKSE:08326) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

67 Mody Road, Room 701, 7th Floor, Peninsula Centre, Tsimshatsui, Kowloon, Hong Kong, HKG

Website

http://www.tonkinggroup.com.hk

Tonking New Energy Group Holdings Ltd is an investment holding company. The Company's principal activity is the renewable energy business in the People's Republic of China. Its operating segments includes Sales of the patented photovoltaic tracking mounting bracket systems; Provision of one-stop value added solution for photovoltaic power stations and Sales of electricity. The company generates maximum revenue from the Sales of the patented photovoltaic tracking mounting bracket systems segment. The business of the group is primarily operated through Hong Kong and China of which China accounts for a larger share of the revenue.

Tonking New Energy Group Holdings (HKSE:08326) Headlines

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