Returns At Jointown Pharmaceutical Group (SHSE:600998) Appear To Be Weighed Down
Returns At Jointown Pharmaceutical Group (SHSE:600998) Appear To Be Weighed Down
What trends should we look for it we want to identify stocks that can multiply in value over the long term? 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. With that in mind, the ROCE of Jointown Pharmaceutical Group (SHSE:600998) looks decent, right now, so lets see what the trend of returns can tell us.
我们应该寻找哪些趋势?我们想确定可以长期价值成倍增长的股票?首先,我们希望看到经过验证的 返回 关于正在增加的资本使用率(ROCE),其次是扩大 基础 已动用资本的百分比。基本上,这意味着一家公司有可以继续进行再投资的盈利计划,这是复合机的一个特征。考虑到这一点,九州通药业集团(SHSE: 600998)的投资回报率目前看起来不错,所以让我们看看回报趋势能告诉我们什么。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (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. Analysts use this formula to calculate it for Jointown Pharmaceutical Group:
如果你以前没有与ROCE合作过,它可以衡量一家公司从其业务中使用的资本中产生的 “回报”(税前利润)。分析师使用以下公式为九通药业集团计算:
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)
0.12 = CN¥3.9b ÷ (CN¥93b - CN¥61b) (Based on the trailing twelve months to September 2023).
0.12 = CN¥3.9b ≤(CN¥93b-CN¥61b) (基于截至2023年9月的过去十二个月)。
Therefore, Jointown Pharmaceutical Group has an ROCE of 12%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Healthcare industry average of 11%.
因此,九州通药业集团的投资回报率为12%。从绝对值来看,这是一个相当正常的回报,与医疗保健行业11%的平均水平略接近。
View our latest analysis for Jointown Pharmaceutical Group
查看我们对九州通制药集团的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231208/0-f792ffb274d1dce9e455603b8bf49d18-0-78c38eb60ec33870a1f34b280702d2eb.png/big)
Above you can see how the current ROCE for Jointown Pharmaceutical Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Jointown Pharmaceutical Group.
在上方你可以看到Jointown Pharmaceutical Group当前的投资回报率与之前的资本回报率相比如何,但从过去可以看出来只有这么多。如果你想了解分析师对未来的预测,你应该查看我们为Jointown Pharmaced Group提供的免费报告。
So How Is Jointown Pharmaceutical Group's ROCE Trending?
那么,九州通药业集团的投资回报率趋势如何?
While the returns on capital are good, they haven't moved much. The company has consistently earned 12% for the last five years, and the capital employed within the business has risen 48% in that time. Since 12% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
尽管资本回报率不错,但变化不大。在过去五年中,该公司的收入持续为12%,在此期间,该业务中使用的资本增长了48%。但是,由于12%的投资回报率适中,很高兴看到企业能够继续以如此可观的回报率进行再投资。在这个大概中,稳定的回报可能并不令人兴奋,但如果能够长期保持这种回报,它们通常会为股东带来丰厚的回报。
On a separate but related note, it's important to know that Jointown Pharmaceutical Group has a current liabilities to total assets ratio of 66%, which we'd consider pretty high. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另一方面,重要的是要知道健通药业集团的流动负债与总资产的比率为66%,我们认为这个比率相当高。这可能会带来一些风险,因为该公司的运营基本上相当依赖其供应商或其他类型的短期债权人。理想情况下,我们希望看到这种情况减少,因为这将意味着承担风险的债务减少。
Our Take On Jointown Pharmaceutical Group's ROCE
我们对九州通制药集团ROCE的看法
In the end, Jointown Pharmaceutical Group has proven its ability to adequately reinvest capital at good rates of return. However, over the last five years, the stock has only delivered a 9.9% return to shareholders who held over that period. So to determine if Jointown Pharmaceutical Group is a multi-bagger going forward, we'd suggest digging deeper into the company's other fundamentals.
最后,九唐药业集团已证明其有能力以良好的回报率对资本进行充分的再投资。但是,在过去五年中,该股仅为同期持股的股东带来了9.9%的回报。因此,为了确定Jointown Pharmaceutical Group未来是否是一家多管齐下的公司,我们建议深入研究该公司的其他基本面。
One more thing, we've spotted 1 warning sign facing Jointown Pharmaceutical Group that you might find interesting.
还有一件事,我们发现了九通制药集团面临的1个警告标志,你可能会觉得很有趣。
While Jointown Pharmaceutical Group 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.
尽管健通药业集团目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司名单。在这里查看这份免费清单。
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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。