TongHwa (TPE:1418) ROCE % : -3.49% (As of Mar. 2024)

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What is TongHwa 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. TongHwa's annualized ROCE % for the quarter that ended in Mar. 2024 was -3.49%.

TongHwa ROCE % Historical Data

The historical data trend for TongHwa'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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TongHwa ROCE % Chart

TongHwa Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-7.58

-8.91

-4.41

2.44

6.20

TongHwa 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															-1.01	-1.61	-0.74	31.44	-3.49

TongHwa ROCE % Calculation

TongHwa'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 )
	=	110.894	/	( ( (3886.513 - 2068.414)	+	(4478.089 - 2719.656) )	/ 2 )
	=	110.894	/	( (1818.099	+	1758.433)	/ 2 )
	=	110.894	/	1788.266
	=	6.20 %

TongHwa'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 )
	=	-60.696	/	( ( (4478.089 - 2719.656)	+	(4562.205 - 2839.293) )	/ 2 )
	=	-60.696	/	( ( 1758.433	+	1722.912 )	/ 2 )
	=	-60.696	/	1740.6725
	=	-3.49 %

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

TongHwa (TPE:1418) 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.

TongHwa ROCE % Related Terms

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TongHwa (TPE:1418) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » TongHwa Corp (TPE:1418) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Xinsheng South Road, 9th Floor, No. 56, Section 1, Taipei, TWN, 100014

Website

http://thfin.myweb.hinet.net

TongHwa Corp is a Taiwan-based company. The company manufactures and distributes acrylic fibers. It offers high shrinkage, fine denier, flat type, super soft, and anti-pilling fibers that are used in apparel comprising sweaters, woman's wear, and children's wear. Its products include sweaters, flannel, blankets, carpets, sofa fabrics, socks, toys, and interior accessories.

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