Hainan Mining (SHSE:601969) Shareholders Will Want The ROCE Trajectory To Continue
Hainan Mining (SHSE:601969) Shareholders Will Want The ROCE Trajectory To Continue
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at Hainan Mining (SHSE:601969) and its trend of ROCE, we really liked what we saw.
你知道吗,有一些财务指标可以提供潜在的多管齐下的线索?首先,我们想要确定一个不断增长的退货在已使用资本(ROCE)上,然后在此基础上,不断增加基地已动用资本的比例。如果你看到这个,通常意味着它是一家拥有出色商业模式和大量有利可图的再投资机会的公司。所以当我们看着海南矿业(上海证券交易所:601969)和它的ROCE趋势,我们真的很喜欢我们看到的。
What Is Return On Capital Employed (ROCE)?
什么是资本回报率(ROCE)?
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. To calculate this metric for Hainan Mining, this is the formula:
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。要计算海南矿业的这一指标,公式如下:
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)
0.071 = CN¥568m ÷ (CN¥11b - CN¥3.4b) (Based on the trailing twelve months to June 2023).
0.071=CN元5.68亿?(CN元11B-CN元34亿)(根据截至2023年6月的往绩12个月计算)。
Therefore, Hainan Mining has an ROCE of 7.1%. In absolute terms, that's a low return but it's around the Metals and Mining industry average of 6.4%.
所以呢,海南矿业的ROCE为7.1%。按绝对值计算,这是一个较低的回报率,但在金属和矿业行业6.4%的平均水平附近。
Check out our latest analysis for Hainan Mining
查看我们对海南矿业的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231020/0-26240ef65318f7e7698e1d31aeba0523-0-8bcc3d5ed5caf9955537a072d4533afc.png/big)
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of Hainan Mining, check out these free graphs here.
虽然过去并不代表未来,但了解一家公司历史上的表现是有帮助的,这就是为什么我们有上面的图表。如果你想深入研究海南矿业的历史收益、收入和现金流,请查看以下内容免费图表在这里。
What The Trend Of ROCE Can Tell Us
ROCE的走势告诉我们什么
Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. Over the last five years, returns on capital employed have risen substantially to 7.1%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 55%. So we're very much inspired by what we're seeing at Hainan Mining thanks to its ability to profitably reinvest capital.
尽管ROCE的绝对值仍然很低,但很高兴看到它正朝着正确的方向前进。过去五年,已动用资本回报率大幅上升至7.1%。该公司实际上每使用一美元资本就能赚到更多的钱,值得注意的是,资本额也增加了55%。因此,我们对海南矿业的情况非常感兴趣,这要归功于它有能力进行有利可图的资本再投资。
The Key Takeaway
关键的外卖
All in all, it's terrific to see that Hainan Mining is reaping the rewards from prior investments and is growing its capital base. Since the stock has returned a solid 52% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
总而言之,看到海南矿业从之前的投资中获得回报,并正在扩大其资本基础,这是一件很棒的事情。过去五年,该股向股东回报高达52%,因此可以说,投资者开始意识到这些变化。因此,鉴于该股已证明其趋势看好,有必要对该公司进行进一步研究,看看这些趋势是否可能持续下去。
One more thing to note, we've identified 1 warning sign with Hainan Mining and understanding it should be part of your investment process.
还有一件事需要注意,我们已经确定了1个警告标志和海南矿业的了解,这应该是你投资过程的一部分。
While Hainan Mining may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
尽管海南矿业目前的回报率可能不是最高的,但我们已经编制了一份股本回报率超过25%的公司名单。看看这个免费在这里列出。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。