Precision Tsugami (China) (HKSE:01651) ROCE % : 23.64% (As of Sep. 2023)

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What is Precision Tsugami (China) 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. Precision Tsugami (China)'s annualized ROCE % for the quarter that ended in Sep. 2023 was 23.64%.

Precision Tsugami (China) ROCE % Historical Data

The historical data trend for Precision Tsugami (China)'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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Precision Tsugami (China) ROCE % Chart

Precision Tsugami (China) Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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36.22

14.88

35.75

48.14

32.83

Precision Tsugami (China) Semi-Annual Data
	Mar15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROCE %	Get a 7-Day Free Trial												57.24	37.93	35.24	31.40	23.64

Precision Tsugami (China) ROCE % Calculation

Precision Tsugami (China)'s annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	958.684	/	( ( (4331.566 - 1495.285)	+	(3997.149 - 993.669) )	/ 2 )
	=	958.684	/	( (2836.281	+	3003.48)	/ 2 )
	=	958.684	/	2919.8805
	=	32.83 %

Precision Tsugami (China)'s ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	700.788	/	( ( (3997.149 - 993.669)	+	(3629.64 - 705.395) )	/ 2 )
	=	700.788	/	( ( 3003.48	+	2924.245 )	/ 2 )
	=	700.788	/	2963.8625
	=	23.64 %

(1) Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

Precision Tsugami (China) (HKSE:01651) 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.

Precision Tsugami (China) ROCE % Related Terms

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Precision Tsugami (China) (HKSE:01651) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Precision Tsugami (China) Corp Ltd (HKSE:01651) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 2001 Pingcheng Road, Pinghu Economic-Technological Development Zone, Zhejiang Province, Pinghu, CHN, 314200

Website

https://www.tsugami.com.cn

Precision Tsugami (China) Corp Ltd is engaged in the manufacturing and distribution of computer numerical control (CNC) high precision machine tools; and the provision of commercial consultation services. It manufactures and sells CNC machine tools including Precision lathes, Precision machining centres, Precision thread and form rolling machines and Precision grinding machines under the TSUGAMI brand. The company only has one reportable operating segment which is the manufacture and sale of high precision CNC machine tools. Its products are mainly for the Chinese market and are also sold to Japan, Europe, the US, Southeast Asia and other countries.

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