China Tourism Group Duty Free (SHSE:601888) ROCE % : 18.40% (As of Mar. 2024)

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What is China Tourism Group Duty Free 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 Tourism Group Duty Free's annualized ROCE % for the quarter that ended in Mar. 2024 was 18.40%.

China Tourism Group Duty Free ROCE % Historical Data

The historical data trend for China Tourism Group Duty Free'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 Tourism Group Duty Free ROCE % Chart

China Tourism Group Duty Free Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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35.18

36.68

44.15

16.14

14.67

China Tourism Group Duty Free 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															21.58	12.37	10.66	13.69	18.40

China Tourism Group Duty Free ROCE % Calculation

China Tourism Group Duty Free'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 )
	=	8943.422	/	( ( (75907.604 - 17480.324)	+	(78869.406 - 15328.502) )	/ 2 )
	=	8943.422	/	( (58427.28	+	63540.904)	/ 2 )
	=	8943.422	/	60984.092
	=	14.67 %

China Tourism Group Duty Free'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 )
	=	11916.324	/	( ( (78869.406 - 15328.502)	+	(80252.537 - 14240.916) )	/ 2 )
	=	11916.324	/	( ( 63540.904	+	66011.621 )	/ 2 )
	=	11916.324	/	64776.2625
	=	18.40 %

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

China Tourism Group Duty Free (SHSE:601888) 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 Tourism Group Duty Free ROCE % Related Terms

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China Tourism Group Duty Free (SHSE:601888) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » China Tourism Group Duty Free Corp Ltd (SHSE:601888) » Definitions » ROCE %

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01880:Hong Kong

Address

No. 2A, Dongzhimenwai Street, 8th Floor, Block A, Dongcheng District, Beijing, CHN, 100027

Website

https://www.ctgdutyfree.com.cn

China Tourism Group Duty Free Corp Ltd is an investment holding company. The company's segments include Retail and Property. It generates maximum revenue from the Retail segment. The Retail segment offers a comprehensive series of duty-free and duty-paid merchandise to customers in Mainland China, Hong Kong, Macau, Cambodia, etc, through its travel retail business. It also engages sales of duty-free and duty-paid merchandise and income from provision of related services.

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