Yihai Kerry Arawana Holdings (SZSE:300999) Could Be Struggling To Allocate Capital
Yihai Kerry Arawana Holdings (SZSE:300999) Could Be Struggling To Allocate Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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. In light of that, when we looked at Yihai Kerry Arawana Holdings (SZSE:300999) and its ROCE trend, we weren't exactly thrilled.
如果我们想找到一只可以长期成倍增长的股票,我们应该寻找哪些潜在趋势?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 的已动用资本。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。有鉴于此,当我们查看益海嘉里Aravana Holdings(深交所代码:300999)及其投资回报率走势时,我们并不感到非常兴奋。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Yihai Kerry Arawana Holdings is:
对于那些不知道的人来说,投资回报率是衡量公司年度税前利润(其回报率)与企业所用资本的关系。益海嘉里Arwana Holdings的计算公式为:
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)
0.019 = CN¥2.1b ÷ (CN¥239b - CN¥129b) (Based on the trailing twelve months to September 2023).
0.019 = CN¥2.1b ≤(CN¥239b-CN¥129b) (基于截至2023年9月的过去十二个月)。
So, Yihai Kerry Arawana Holdings has an ROCE of 1.9%. In absolute terms, that's a low return and it also under-performs the Food industry average of 7.5%.
因此,益海嘉里Arwana Holdings的投资回报率为1.9%。从绝对值来看,这是一个低回报,而且表现也低于食品行业7.5%的平均水平。
Check out our latest analysis for Yihai Kerry Arawana Holdings
查看我们对益海嘉里Arawana Holdings的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231209/0-7e1f4871c8c496b1437bcdd0f43b1cb7-0-6f22d5eb40f275efb384a8cbbf07b6a1.png/big)
Above you can see how the current ROCE for Yihai Kerry Arawana Holdings 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 Yihai Kerry Arawana Holdings.
在上方你可以看到益海嘉里Arawana Holdings目前的投资回报率与之前的资本回报率相比如何,但从过去你能看出来的只有很多。如果你想了解分析师对未来的预测,你应该查看我们的益海嘉里Arawana Holdings的免费报告。
What Can We Tell From Yihai Kerry Arawana Holdings' ROCE Trend?
我们可以从益海嘉里Aravana Holdings的ROCE趋势中看出什么?
On the surface, the trend of ROCE at Yihai Kerry Arawana Holdings doesn't inspire confidence. Around five years ago the returns on capital were 8.5%, but since then they've fallen to 1.9%. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
从表面上看,益海嘉里Arawana Holdings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8.5%,但此后已降至1.9%。另一方面,该公司去年一直在使用更多资金,但销售额没有相应改善,这可能表明这些投资是长期投资。值得关注该公司的收益,看看这些投资最终能否为利润做出贡献。
On a side note, Yihai Kerry Arawana Holdings' current liabilities are still rather high at 54% of total assets. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
顺便说一句,益海嘉里Arawana Holdings的流动负债仍然相当高,占总资产的54%。这实际上意味着供应商(或短期债权人)正在为企业的很大一部分提供资金,因此请注意,这可能会带来一些风险因素。虽然这不一定是一件坏事,但如果这个比率较低,可能会有好处。
The Bottom Line On Yihai Kerry Arawana Holdings' ROCE
益海嘉里Arwana Holdings的投资回报率的底线
In summary, Yihai Kerry Arawana Holdings is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Since the stock has declined 51% over the last three years, investors may not be too optimistic on this trend improving either. Therefore based on the analysis done in this article, we don't think Yihai Kerry Arawana Holdings has the makings of a multi-bagger.
总而言之,益海嘉里Arawana Holdings正在将资金重新投资到业务中以实现增长,但不幸的是,销售额似乎尚未有太大增长。由于该股在过去三年中下跌了51%,因此投资者也可能对这种改善趋势不太乐观。因此,根据本文所做的分析,我们认为益海嘉里Arawana Holdings不具备多装袋机的特质。
Yihai Kerry Arawana Holdings could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation on our platform quite valuable.
益海嘉里Arawana Holdings可能在其他方面以具有吸引力的价格进行交易,因此您可能会发现我们在我们平台上的免费内在价值估算非常有价值。
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.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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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。