Zhejiang Expressway Co (HKSE:00576) ROCE % : 10.11% (As of Dec. 2023)

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What is Zhejiang Expressway 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. Zhejiang Expressway Co's annualized ROCE % for the quarter that ended in Dec. 2023 was 10.11%.

Zhejiang Expressway Co ROCE % Historical Data

The historical data trend for Zhejiang Expressway 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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Zhejiang Expressway Co ROCE % Chart

Zhejiang Expressway Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.28

11.63

14.08

10.24

10.18

Zhejiang Expressway Co Quarterly Data
	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Jun19	Sep19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															14.65	-	11.00	10.11	10.13

Zhejiang Expressway Co ROCE % Calculation

Zhejiang Expressway 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 )
	=	10889.298	/	( ( (213137.75 - 113409.495)	+	(227250.912 - 112994.288) )	/ 2 )
	=	10889.298	/	( (99728.255	+	114256.624)	/ 2 )
	=	10889.298	/	106992.4395
	=	10.18 %

Zhejiang Expressway Co's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	10992.548	/	( ( (214154.274 - 111005.385)	+	(227250.912 - 112994.288) )	/ 2 )
	=	10992.548	/	( ( 103148.889	+	114256.624 )	/ 2 )
	=	10992.548	/	108702.7565
	=	10.11 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Zhejiang Expressway Co (HKSE:00576) 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.

Zhejiang Expressway Co ROCE % Related Terms

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Zhejiang Expressway Co (HKSE:00576) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Zhejiang Expressway Co Ltd (HKSE:00576) » Definitions » ROCE %

Traded in Other Exchanges

ZHEXF:USA ZHJ:Germany

Address

199 Wuxing Road, 5th Floor, No. 2, Mingzhu International Business Center, Zhejiang Province, Hangzhou, CHN, 310020

Website

https://www.zjec.com.cn

Zhejiang Expressway Co Ltd is a Chinese infrastructure company which, through its subsidiaries, develops, maintains, and operates high-grade roads. The company organizes itself into three segments: toll road business, securities business, and other business. The company derives the majority of revenue and earnings from the toll road business. The securities business, the next most significant segment, provides brokerage services, including advisory, margin lending, and asset management. The company earns the entirety of revenue domestically.

Zhejiang Expressway Co (HKSE:00576) Headlines

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