Tianjin Jinrong Tianyu Precision Machinery (SZSE:300988) ROCE % : 9.48% (As of Mar. 2024)

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What is Tianjin Jinrong Tianyu Precision Machinery 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. Tianjin Jinrong Tianyu Precision Machinery's annualized ROCE % for the quarter that ended in Mar. 2024 was 9.48%.

Tianjin Jinrong Tianyu Precision Machinery ROCE % Historical Data

The historical data trend for Tianjin Jinrong Tianyu Precision Machinery'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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Tianjin Jinrong Tianyu Precision Machinery ROCE % Chart

Tianjin Jinrong Tianyu Precision Machinery Annual Data

Trend

Dec12

Dec13

Dec14

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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20.84

18.33

12.58

10.11

9.85

Tianjin Jinrong Tianyu Precision Machinery Quarterly Data
	Mar19	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															12.00	8.05	10.64	7.09	9.48

Tianjin Jinrong Tianyu Precision Machinery ROCE % Calculation

Tianjin Jinrong Tianyu Precision Machinery'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 )
	=	107.743	/	( ( (1412.851 - 454.929)	+	(1999.707 - 770.817) )	/ 2 )
	=	107.743	/	( (957.922	+	1228.89)	/ 2 )
	=	107.743	/	1093.406
	=	9.85 %

Tianjin Jinrong Tianyu Precision Machinery'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 )
	=	120.224	/	( ( (1999.707 - 770.817)	+	(2059.159 - 752.734) )	/ 2 )
	=	120.224	/	( ( 1228.89	+	1306.425 )	/ 2 )
	=	120.224	/	1267.6575
	=	9.48 %

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

Tianjin Jinrong Tianyu Precision Machinery (SZSE:300988) 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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Tianjin Jinrong Tianyu Precision Machinery (SZSE:300988) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Tianjin Jinrong Tianyu Precision Machinery Inc (SZSE:300988) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 3, Haitai Chuangxin 4th Road, Huayuan Industrial Zone, Tianjin, CHN, 300384

Website

http://www.tjjinrong.com

Tianjin Jinrong Tianyu Precision Machinery Co Ltd is engaged in the research and development, production and sales of precision metal molds and related parts.

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