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Some Investors May Be Worried About UCAP Cloud Information TechnologyLtd's (SHSE:688228) Returns On Capital

Some Investors May Be Worried About UCAP Cloud Information TechnologyLtd's (SHSE:688228) Returns On Capital

一些投资者可能会担心UCAP Cloud Informent Technology Ltd(SHSE: 688228)的资本回报率
Simply Wall St ·  2023/11/16 23:08

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after briefly looking over the numbers, we don't think UCAP Cloud Information TechnologyLtd (SHSE:688228) has the makings of a multi-bagger going forward, but let's have a look at why that may be.

你知道有一些财务指标可以为潜在的多袋装袋者提供线索吗?一种常见的方法是尝试找一家公司 回报 论资本使用率(ROCE)在增加的同时增长 金额 已动用资本的百分比。简而言之,这些类型的企业是复合机器,这意味着他们不断以更高的回报率对收益进行再投资。但是,在简要查看这些数字之后,我们认为UCAP Cloud Information TechnologyLtd(SHSE: 688228)不具备未来的多功能优势,但让我们来看看为什么会这样。

Return On Capital Employed (ROCE): What Is It?

资本使用回报率(ROCE):这是什么?

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. Analysts use this formula to calculate it for UCAP Cloud Information TechnologyLtd:

对于那些不确定ROCE是什么的人来说,它衡量的是公司从业务中使用的资本中可以产生的税前利润。分析师使用这个公式来计算 UCAP Cloud Information Technology

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)

0.01 = CN¥15m ÷ (CN¥1.7b - CN¥262m) (Based on the trailing twelve months to September 2023).

0.01 = 1500万元人民币 ≤(人民币17亿元-262万元人民币) (基于截至2023年9月的过去十二个月)

Therefore, UCAP Cloud Information TechnologyLtd has an ROCE of 1.0%. In absolute terms, that's a low return and it also under-performs the IT industry average of 3.8%.

因此,UCAP 云信息技术有限公司的投资回报率为1.0%。从绝对值来看,这是一个低回报,而且表现也低于IT行业3.8%的平均水平。

See our latest analysis for UCAP Cloud Information TechnologyLtd

查看我们对 UCAP 云信息技术有限公司的最新分析

roce
SHSE:688228 Return on Capital Employed November 16th 2023
SHSE: 688228 2023 年 11 月 16 日已动用资本回报率

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're interested in investigating UCAP Cloud Information TechnologyLtd's past further, check out this free graph of past earnings, revenue and cash flow.

虽然过去不能代表未来,但了解一家公司的历史表现可能会有所帮助,这就是我们上面有这张图表的原因。如果你有兴趣进一步调查UCAP Cloud Information TechnologyLtd的过去,可以查看这张免费的过去收益、收入和现金流图表。

What Can We Tell From UCAP Cloud Information TechnologyLtd's ROCE Trend?

我们可以从 UCAP 云信息技术有限公司的 ROCE 趋势中看出什么?

On the surface, the trend of ROCE at UCAP Cloud Information TechnologyLtd doesn't inspire confidence. Around five years ago the returns on capital were 35%, but since then they've fallen to 1.0%. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments.

从表面上看,UCAP Cloud Information TechnologyLtd的投资回报率趋势并不能激发信心。大约五年前,资本回报率为35%,但此后已降至1.0%。同时,该业务正在使用更多的资本,但在过去的12个月中,这并没有给销售带来太大影响,因此这可能反映了长期投资。公司可能需要一段时间才能开始看到这些投资的收益发生任何变化。

On a related note, UCAP Cloud Information TechnologyLtd has decreased its current liabilities to 15% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.

与此相关的是,UCAP Cloud Information TechnologyLtd已将其流动负债减少至总资产的15%。这可以部分解释ROCE下降的原因。更重要的是,这可以降低业务风险的某些方面,因为现在该公司的供应商或短期债权人为其运营提供的资金减少了。由于该企业基本上是用自己的资金为更多的业务提供资金,你可能会争辩说,这降低了企业创造投资回报的效率。

In Conclusion...

总之...

In summary, UCAP Cloud Information TechnologyLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Additionally, the stock's total return to shareholders over the last three years has been flat, which isn't too surprising. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.

总而言之,UCAP Cloud Information TechnologyLtd正在将资金重新投资到业务中以实现增长,但不幸的是,销售额似乎还没有太大增长。此外,该股在过去三年中为股东带来的总回报率一直持平,这并不奇怪。总的来说,我们并没有受到潜在趋势的启发,我们认为在其他地方找到多功能机型的可能性可能更大。

One more thing to note, we've identified 3 warning signs with UCAP Cloud Information TechnologyLtd and understanding these should be part of your investment process.

还有一点需要注意的是,我们已经确定了UCAP Cloud Information TechnologyLtd的三个警告信号,理解这些信号应该成为您投资过程的一部分。

If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.

如果你想寻找收益丰厚的稳健公司,可以免费查看这份资产负债表良好且股本回报率可观的公司名单。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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