Here's What's Concerning About Cango's (NYSE:CANG) Returns On Capital [Yahoo! Finance]
Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares (CANG)
Last cango inc. american depositary shares, each representing two (2) class a ordinary shares earnings: 3/23 04:30 pm
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Source: Yahoo! Finance
When we see a declining return on capital employed (ROCE) in conjunction with a declining base of capital employed, that's often how a mature business shows signs of aging. This indicates the company is producing less profit from its investments and its total assets are decreasing. And from a first read, things don't look too good at Cango NYSE:CANG ), so let's see why. Understanding Return On Capital Employed (ROCE) If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Cango, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.028 = CN¥109m ÷ (CN¥4.6b - CN¥670m) (Based on the trailing twelve months to March 2024) Thus, Cango has an ROCE of 2.8%. In absolute terms, that's a low return and it also under-performs the Specialty Retail industry average of 12%. View our latest analysis
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CANG
News
- Cango Inc. (CANG) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Cango Inc. Reports Second Quarter 2024 Unaudited Financial Results [Yahoo! Finance]Yahoo! Finance
- Cango Inc. Reports Second Quarter 2024 Unaudited Financial ResultsPR Newswire
- Cango Inc. to Report Second Quarter 2024 Financial Results on August 29, 2024 Eastern TimePR Newswire
CANG
Sec Filings
- 9/3/24 - Form 144
- 9/3/24 - Form 6-K
- 8/20/24 - Form SC
- CANG's page on the SEC website