Hitek Global (NASDAQ:HKIT) Will Be Hoping To Turn Its Returns On Capital Around [Yahoo! Finance]
Hitek Global Inc. - Class A Ordinary Share (HKIT)
Company Research
Source: Yahoo! Finance
Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. In light of that, when we looked at Hitek Global NASDAQ:HKIT ) and its ROCE trend, we weren't exactly thrilled. What Is Return On Capital Employed (ROCE)? For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Hitek Global, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.05 = US$1.4m ÷ (US$33m - US$5.7m) (Based on the trailing twelve months to June 2023) So, Hitek Global has an ROCE of 5.0%. In absolute terms, that's a low return and it also under-performs the IT industry average of 12%. Vi
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