Anhui Province Natural Gas Development Co (SHSE:603689) ROCE % : 11.01% (As of Mar. 2024)

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What is Anhui Province Natural Gas Development 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. Anhui Province Natural Gas Development Co's annualized ROCE % for the quarter that ended in Mar. 2024 was 11.01%.

Anhui Province Natural Gas Development Co ROCE % Historical Data

The historical data trend for Anhui Province Natural Gas Development 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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Anhui Province Natural Gas Development Co ROCE % Chart

Anhui Province Natural Gas Development Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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11.02

9.78

8.11

7.94

9.04

Anhui Province Natural Gas Development Co 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															11.14	8.03	11.62	5.19	11.01

Anhui Province Natural Gas Development Co ROCE % Calculation

Anhui Province Natural Gas Development 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 )
	=	510.373	/	( ( (6242.564 - 943.552)	+	(7001.293 - 1008.118) )	/ 2 )
	=	510.373	/	( (5299.012	+	5993.175)	/ 2 )
	=	510.373	/	5646.0935
	=	9.04 %

Anhui Province Natural Gas Development Co'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 )
	=	670.26	/	( ( (7001.293 - 1008.118)	+	(7167.352 - 989.841) )	/ 2 )
	=	670.26	/	( ( 5993.175	+	6177.511 )	/ 2 )
	=	670.26	/	6085.343
	=	11.01 %

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

Anhui Province Natural Gas Development Co (SHSE:603689) 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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Anhui Province Natural Gas Development Co (SHSE:603689) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Anhui Province Natural Gas Development Co Ltd (SHSE:603689) » Definitions » ROCE %

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Address

No. 9 Dalian Road, Baohe Industrial Zone, Anhui Province, Hefei, CHN, 230051

Website

http://www.ahtrq.com

Anhui Province Natural Gas Development Co Ltd is a natural gas pipeline operator. It invests, constructs, operates and manages natural gas pipelines in Anhui Province. The company also participates in the development and construction of natural gas pipeline network in urban areas; manages natural gas resources on behalf of Anhui Province; sells natural gas; and market and competitive investment in other natural gas, CBM and other energy applications and related projects. The other business activities of the company are to invest in the development of natural gas and coal seams in the province Gas resources projects; other energy development projects; and to engage in other auxiliary businesses.

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