China Man-Made Fiber (TPE:1718) ROCE % : 18.36% (As of Mar. 2024)

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What is China Man-Made Fiber 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 Man-Made Fiber's annualized ROCE % for the quarter that ended in Mar. 2024 was 18.36%.

China Man-Made Fiber ROCE % Historical Data

The historical data trend for China Man-Made Fiber'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 Man-Made Fiber ROCE % Chart

China Man-Made Fiber Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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3.93

10.78

8.60

9.08

14.35

China Man-Made Fiber 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															11.88	14.39	16.92	14.20	18.36

China Man-Made Fiber ROCE % Calculation

China Man-Made Fiber'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 )
	=	15313.994	/	( ( (835701.961 - 731047.063)	+	(902189.921 - 793421.493) )	/ 2 )
	=	15313.994	/	( (104654.898	+	108768.428)	/ 2 )
	=	15313.994	/	106711.663
	=	14.35 %

China Man-Made Fiber'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 )
	=	20185.224	/	( ( (902189.921 - 793421.493)	+	(915086.046 - 804017.823) )	/ 2 )
	=	20185.224	/	( ( 108768.428	+	111068.223 )	/ 2 )
	=	20185.224	/	109918.3255
	=	18.36 %

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

China Man-Made Fiber (TPE:1718) 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 Man-Made Fiber ROCE % Related Terms

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China Man-Made Fiber (TPE:1718) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » China Man-Made Fiber Corp (TPE:1718) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

Xinsheng S. Road, 10-11th Floor, No. 50, Sector 1, Taipei City, TWN, 100

Website

https://www.cmfc.com.tw

China Man-Made Fiber Corp makes and sells chemicals and fiber products, including polyester yarn and filament, and rayon yarn and fiber, which are used to make apparel, footwear, and industrial cloth. The company's chemical portfolio includes ethylene glycol, ethylene oxide, and nonylphenol, which are used to make antifreeze and engine coolants for the automobile industry. The chemicals are also used in snow and ice removal as well as explosives for the mining industry.

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