Yutong Bus Co (SHSE:600066) ROCE % : 16.45% (As of Mar. 2024)

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What is Yutong Bus 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. Yutong Bus Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 16.45%.

Yutong Bus Co ROCE % Historical Data

The historical data trend for Yutong Bus 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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Yutong Bus Co ROCE % Chart

Yutong Bus Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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10.85

1.81

2.99

3.97

12.03

Yutong Bus Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															3.52	10.59	15.55	20.25	16.45

Yutong Bus Co ROCE % Calculation

Yutong Bus 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 )
	=	2079.884	/	( ( (29998.383 - 12580.183)	+	(30856.956 - 13684.21) )	/ 2 )
	=	2079.884	/	( (17418.2	+	17172.746)	/ 2 )
	=	2079.884	/	17295.473
	=	12.03 %

Yutong Bus Co's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	2884.692	/	( ( (30856.956 - 13684.21)	+	(32126.818 - 14223.374) )	/ 2 )
	=	2884.692	/	( ( 17172.746	+	17903.444 )	/ 2 )
	=	2884.692	/	17538.095
	=	16.45 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Yutong Bus Co (SHSE:600066) 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.

Yutong Bus Co ROCE % Related Terms

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Yutong Bus Co (SHSE:600066) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » Yutong Bus Co Ltd (SHSE:600066) » Definitions » ROCE %

Traded in Other Exchanges

N/A

Address

66 Yuxing Road, Zhengzhou Economic and Technological Development Zone, Henan Province, Zhengzhou, CHN, 450016

Website

http://www.yutong.com

Yutong is the global market leader in buses, with close to 90% of revenue coming from sales in China. It is also China's largest bus manufacturer with around 30% of market share in medium and large buses. With the highest production capacity in its core segment, the company continues to benefit from the Chinese central government's subsidies for electric vehicles. Yutong's current product portfolio covers nearly all bus segments, including motor coach, shuttle, and school bus. While the firm started as a state-owned enterprise, a team of 23 company managers launched a management buyout in 2001 and eventually took over the firm in 2003.

Yutong Bus Co (SHSE:600066) Headlines

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