Hunan Gold's (SZSE:002155) Returns On Capital Are Heading Higher
Hunan Gold's (SZSE:002155) Returns On Capital Are Heading Higher
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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 on that note, Hunan Gold (SZSE:002155) looks quite promising in regards to its trends of return on capital.
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?首先,我们想找一个正在成长的 返回 关于已用资本(ROCE),然后除此之外,还不断增加 基础 所用资本的比例。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。因此,就资本回报率趋势而言,湖南黄金(SZSE:002155)看起来相当乐观。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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. The formula for this calculation on Hunan Gold is:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。湖南黄金的计算公式为:
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)
0.082 = CN¥521m ÷ (CN¥7.5b - CN¥1.1b) (Based on the trailing twelve months to September 2023).
0.082 = 5.21亿元人民币 ÷(7.5亿元人民币-11亿元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, Hunan Gold has an ROCE of 8.2%. On its own that's a low return, but compared to the average of 6.2% generated by the Metals and Mining industry, it's much better.
因此,湖南黄金的投资回报率为8.2%。就其本身而言,回报率很低,但与金属和采矿业6.2%的平均回报率相比,要好得多。
View our latest analysis for Hunan Gold
查看我们对湖南黄金的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231229/0-89b8089d9cbf6ebc71aa6b40213f87f3-0-eb3073cbb73d2718e27cb018de19d960.png/big)
Above you can see how the current ROCE for Hunan Gold compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Hunan Gold here for free.
上面你可以看到湖南黄金当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果你愿意,可以在这里免费查看分析师对湖南黄金的预测。
The Trend Of ROCE
ROCE 的趋势
Hunan Gold is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 34% in that same time. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
鉴于其投资回报率呈上升和向右趋势,湖南黄金表现出希望。更具体地说,尽管该公司在过去五年中一直保持相对平稳的资本使用率,但同期投资回报率增长了34%。基本上,该业务正在从相同数量的资本中获得更高的回报,这证明了公司的效率有所提高。从这个意义上讲,该公司表现良好,值得研究管理团队对长期增长前景的计划。
The Bottom Line
底线
To sum it up, Hunan Gold is collecting higher returns from the same amount of capital, and that's impressive. Since the stock has only returned 38% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
总而言之,湖南黄金正在从相同数量的资本中获得更高的回报,这令人印象深刻。由于该股在过去五年中仅向股东回报了38%,因此前景良好的基本面可能尚未得到投资者的认可。有鉴于此,我们将进一步研究这只股票,以防它具有更多可以使其长期成倍增长的特征。
If you want to continue researching Hunan Gold, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想继续研究湖南黄金,你可能有兴趣了解我们的分析发现的1个警告信号。
While Hunan Gold isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管湖南黄金的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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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提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。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,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。