China Resources Gas Group (HKSE:01193) ROCE % : 8.97% (As of Dec. 2023)

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What is China Resources Gas Group 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 Resources Gas Group's annualized ROCE % for the quarter that ended in Dec. 2023 was 8.97%.

China Resources Gas Group ROCE % Historical Data

The historical data trend for China Resources Gas Group'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 Resources Gas Group ROCE % Chart

China Resources Gas Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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21.61

19.19

20.60

14.86

12.90

China Resources Gas Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															20.61	18.22	12.03	16.09	8.97

China Resources Gas Group ROCE % Calculation

China Resources Gas Group'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 )
	=	9849.976	/	( ( (112303.585 - 46320.161)	+	(137871.085 - 51108.934) )	/ 2 )
	=	9849.976	/	( (65983.424	+	86762.151)	/ 2 )
	=	9849.976	/	76372.7875
	=	12.90 %

China Resources Gas Group'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: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	7648.052	/	( ( (135830.556 - 52024.18)	+	(137871.085 - 51108.934) )	/ 2 )
	=	7648.052	/	( ( 83806.376	+	86762.151 )	/ 2 )
	=	7648.052	/	85284.2635
	=	8.97 %

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

China Resources Gas Group (HKSE:01193) 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 Resources Gas Group ROCE % Related Terms

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China Resources Gas Group (HKSE:01193) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » China Resources Gas Group Ltd (HKSE:01193) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CRGGF:USA LGX1:Germany

Address

26 Harbour Road, Room 1901-02, China Resources Building, Wanchai, Hong Kong, HKG

Website

https://www.crcgas.com

China Resources Gas Group is a leading gas utilities group in China engaged in city gas distribution, including piped natural gas distribution and natural gas filling stations. At the end of 2022, CRG's portfolio comprised 273 city gas projects in China. The firm achieved annual gas sales volume of 35.9 billion cubic meters and has connected 53.9 million residential customers, or a penetration rate of 58.2%.

Executives

Jpmorgan Chase & Co.	2502 Approved lending agent
The Capital Group Companies, Inc.	2201 Interest of corporation controlled by you
China Resources Company Limited
Crh (gas) Limited

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