China South Publishing & Media Group's (SHSE:601098) Returns Have Hit A Wall
China South Publishing & Media Group's (SHSE:601098) Returns Have Hit A Wall
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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. However, after investigating China South Publishing & Media Group (SHSE:601098), we don't think it's current trends fit the mold of a multi-bagger.
如果你正在寻找一个多袋子,有几个东西需要注意。理想情况下,一家企业将呈现两种趋势;第一,增长退货关于已使用资本(ROCE),第二,增加金额已动用资本的比例。基本上,这意味着一家公司有盈利的举措,可以继续进行再投资,这是复合机器的一个特点。不过,经过调查,中国南方出版传媒集团(上海证券交易所:601098),我们认为目前的趋势不符合多袋子模式。
Return On Capital Employed (ROCE): What Is It?
资本回报率(ROCE):它是什么?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for China South Publishing & Media Group:
如果您不确定,只需澄清一下,ROCE是一种评估公司投资于其业务的资本获得多少税前收入(按百分比计算)的指标。分析师用这个公式来计算中国南方出版传媒集团的股价:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.09 = CN¥1.5b ÷ (CN¥24b - CN¥8.2b) (Based on the trailing twelve months to June 2023).
0.09=CN元15亿?(CN元240亿-CN元82亿)(根据截至2023年6月的往绩12个月计算)。
Therefore, China South Publishing & Media Group has an ROCE of 9.0%. On its own that's a low return, but compared to the average of 4.7% generated by the Media industry, it's much better.
所以呢,中国南方出版传媒集团的净资产收益率为9.0%。就其本身而言,这是一个很低的回报率,但与媒体行业4.7%的平均回报率相比,这要好得多。
View our latest analysis for China South Publishing & Media Group
查看我们对中国南方出版传媒集团的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230917/0-a2daaef7e6ef5c9e6dce84c841921349-0-07d4c7cc18551fdb44334a0a91c4b55b.png/big)
In the above chart we have measured China South Publishing & Media Group's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上面的图表中,我们比较了中国南方出版传媒集团之前的净资产收益率和之前的业绩,但可以说,未来更重要。如果您感兴趣,您可以在我们的免费分析师对该公司的预测报告。
The Trend Of ROCE
ROCE的发展趋势
Over the past five years, China South Publishing & Media Group's ROCE and capital employed have both remained mostly flat. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. With that in mind, unless investment picks up again in the future, we wouldn't expect China South Publishing & Media Group to be a multi-bagger going forward.
在过去的五年里,中国南方出版传媒集团的净资产收益率和已动用资本基本持平。当一家成熟而稳定的企业没有对其收益进行再投资时,这种情况并不少见,因为它很可能已经度过了商业周期的那个阶段。考虑到这一点,除非未来投资再次回升,否则我们预计中国南方出版传媒集团不会成为一家多元化的企业。
Our Take On China South Publishing & Media Group's ROCE
我们对中国南方出版传媒集团ROCE的看法
In summary, China South Publishing & Media Group isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And investors may be recognizing these trends since the stock has only returned a total of 35% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
总而言之,中国南方出版传媒集团的盈利并没有增加,但投入的资本却产生了稳定的回报。投资者可能已经意识到了这些趋势,因为过去五年,该股向股东总共只有35%的回报率。因此,如果你正在寻找一个多袋子,潜在的趋势表明,你可能在其他地方有更好的机会。
On a final note, we found 2 warning signs for China South Publishing & Media Group (1 doesn't sit too well with us) you should be aware of.
最后,我们发现中国南方出版传媒集团的2个警示标志(1与我们坐在一起不太好)你应该知道。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
对于那些喜欢投资于稳固的公司,看看这个免费资产负债表稳健、股本回报率高的公司名单。
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