Midea Group Co (SZSE:000333) ROCE % : 18.84% (As of Mar. 2024)

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What is Midea Group 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. Midea Group Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 18.84%.

Midea Group Co ROCE % Historical Data

The historical data trend for Midea Group 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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Midea Group Co ROCE % Chart

Midea Group Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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21.17

19.75

20.55

19.30

19.11

Midea Group 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															18.71	25.02	23.00	12.31	18.84

Midea Group Co ROCE % Calculation

Midea Group 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 )
	=	43085.267	/	( ( (422555.267 - 206341.741)	+	(486038.184 - 251245.721) )	/ 2 )
	=	43085.267	/	( (216213.526	+	234792.463)	/ 2 )
	=	43085.267	/	225502.9945
	=	19.11 %

Midea Group 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 )
	=	45101.064	/	( ( (486038.184 - 251245.721)	+	(497968.468 - 253996.443) )	/ 2 )
	=	45101.064	/	( ( 234792.463	+	243972.025 )	/ 2 )
	=	45101.064	/	239382.244
	=	18.84 %

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

Midea Group Co (SZSE:000333) 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.

Midea Group Co ROCE % Related Terms

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Midea Group Co (SZSE:000333) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Midea Group Co Ltd (SZSE:000333) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

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Address

No. 6 Midea Avenue, Beijiao Town, Midea Headquarters Building, Shunde District, Guangdong Province, Foshan, CHN, 528311

Website

http://www.midea.com

Midea Group Co., Ltd. is one of the largest household appliance manufacturers in China, producing air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most of the home appliance products. The firm is also involved in industrial automation systems through its 100% stake in Kuka, a leading global player in the industry based in Germany. Heating, ventilation, and air-conditioning, or HVAC, products accounted for 44% of Midea's total revenue in 2022, followed by other consumer appliances (36%) and robotics and automation systems (9%). In addition, more than 40% of the group's sales is ex-China.

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