Return Trends At ShuYu Civilian Pharmacy (SZSE:301017) Aren't Appealing
Return Trends At ShuYu Civilian Pharmacy (SZSE:301017) Aren't Appealing
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. That's why when we briefly looked at ShuYu Civilian Pharmacy's (SZSE:301017) ROCE trend, we were pretty happy with what we saw.
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?除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 所用资本的比例。这向我们表明,它是一台复合机器,能够持续将其收益再投资到业务中并产生更高的回报。这就是为什么当我们简要查看舒宇民用药房(深圳证券交易所代码:301017)的投资回报率趋势时,我们对所看到的情况感到非常满意。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (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. The formula for this calculation on ShuYu Civilian Pharmacy is:
为了澄清一下你是否不确定,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。ShuYu 民用药房进行此计算的公式为:
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)
0.11 = CN¥487m ÷ (CN¥8.8b - CN¥4.6b) (Based on the trailing twelve months to September 2023).
0.11 = 4.87亿元人民币 ÷(8.8亿元人民币-4.6亿元人民币) (基于截至2023年9月的过去十二个月)。
So, ShuYu Civilian Pharmacy has an ROCE of 11%. On its own, that's a standard return, however it's much better than the 7.0% generated by the Consumer Retailing industry.
因此,舒宇民用药房的投资回报率为11%。就其本身而言,这是标准回报率,但要比消费者零售行业产生的7.0%好得多。
See our latest analysis for ShuYu Civilian Pharmacy
查看我们对 ShuYu 民用药房的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240101/0-304da9d4027bb79040d493a7bfe713e3-0-e60f4cc68c9ac3f979dcefc6e699a6a8.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for ShuYu Civilian Pharmacy's ROCE against it's prior returns. If you'd like to look at how ShuYu Civilian Pharmacy has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
历史表现是研究股票的绝佳起点,因此在上面你可以看到ShuYu民用药房投资回报率与先前回报对比的指标。如果你想在其他指标中查看ShuYu Civilial Pharmacy过去的表现,你可以查看这张过去的收益、收入和现金流的免费图表。
What Does the ROCE Trend For ShuYu Civilian Pharmacy Tell Us?
ShuYu民用药房的投资回报率趋势告诉我们什么?
The trend of ROCE doesn't stand out much, but returns on a whole are decent. The company has employed 223% more capital in the last four years, and the returns on that capital have remained stable at 11%. Since 11% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
ROCE的趋势并不突出,但总体回报还是不错的。在过去四年中,该公司雇用的资本增加了223%,该资本的回报率一直稳定在11%。但是,由于11%的投资回报率适中,因此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。在很长一段时间内,这样的回报可能不会太令人兴奋,但只要保持一致,它们可以在股价回报方面获得回报。
On a side note, ShuYu Civilian Pharmacy's current liabilities are still rather high at 52% 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. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
顺便说一句,舒宇民用药房的流动负债仍然相当高,占总资产的52%。这实际上意味着供应商(或短期债权人)正在为业务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。理想情况下,我们希望看到这种情况减少,因为这将意味着减少承担风险的债务。
In Conclusion...
总之...
In the end, ShuYu Civilian Pharmacy has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last year, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
最后,ShuYu民用药房证明了其以良好的回报率进行充分再投资的能力。而且,由于该股在去年强劲上涨,看来市场预计这种趋势将继续下去。因此,尽管该股可能比以前更 “昂贵”,但我们认为强劲的基本面值得该股进行进一步研究。
If you want to know some of the risks facing ShuYu Civilian Pharmacy we've found 2 warning signs (1 is potentially serious!) that you should be aware of before investing here.
如果你想知道 ShuYu 民用药房面临的一些风险,我们发现了 2 个警告信号(1 个可能很严重!)在这里投资之前,您应该注意这一点。
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。