Some Investors May Be Worried About Ningbo TechmationLtd's (SHSE:603015) Returns On Capital
Some Investors May Be Worried About Ningbo TechmationLtd's (SHSE:603015) Returns On Capital
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Having said that, from a first glance at Ningbo TechmationLtd (SHSE:603015) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果你在寻找下一款多功能装袋机时不确定从哪里开始,那么你应该留意一些关键趋势。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 所用资本的比例。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。话虽如此,乍一看宁波科迈科技有限公司(上海证券交易所股票代码:603015),我们并不是对回报趋势不屑一顾,但让我们更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Ningbo TechmationLtd is:
如果你以前没有与ROCE合作过,它会衡量公司从其业务中使用的资本中产生的 “回报”(税前利润)。Ningbo TechmationLtd 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)
0.0072 = CN¥12m ÷ (CN¥2.0b - CN¥374m) (Based on the trailing twelve months to September 2023).
0.0072 = 1200万元人民币 ÷(20亿元人民币-3.74亿元人民币) (基于截至2023年9月的过去十二个月)。
So, Ningbo TechmationLtd has an ROCE of 0.7%. Ultimately, that's a low return and it under-performs the Electronic industry average of 5.0%.
因此,宁波科创有限公司的投资回报率为0.7%。归根结底,这是一个低回报,其表现低于电子行业5.0%的平均水平。
View our latest analysis for Ningbo TechmationLtd
查看我们对宁波 TechmationLtd 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240103/0-edc90f2501efcf507ba834174e4468b8-0-1ba44adecd7c809ba6abe0f76763d7e6.png/big)
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 Ningbo TechmationLtd's past further, check out this free graph of past earnings, revenue and cash flow.
虽然过去并不能代表未来,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Ningbo TechmationLtd的过去,请查看这张过去的收益、收入和现金流的免费图表。
How Are Returns Trending?
退货趋势如何?
On the surface, the trend of ROCE at Ningbo TechmationLtd doesn't inspire confidence. Around five years ago the returns on capital were 5.8%, but since then they've fallen to 0.7%. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.
从表面上看,宁波科创有限公司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5.8%,但此后已降至0.7%。鉴于该企业在收入下滑的情况下雇用了更多的资本,这有点令人担忧。这可能意味着该企业正在失去其竞争优势或市场份额,因为尽管向风险投资投入了更多的资金,但它产生的回报实际上更低—— “成本效益更低” 本身。
The Key Takeaway
关键要点
In summary, we're somewhat concerned by Ningbo TechmationLtd's diminishing returns on increasing amounts of capital. However the stock has delivered a 71% return to shareholders over the last five years, so investors might be expecting the trends to turn around. In any case, the current underlying trends don't bode well for long term performance so unless they reverse, we'd start looking elsewhere.
总而言之,我们对宁波腾讯科技股份有限公司因增加资本而产生的回报减少感到担忧。但是,该股在过去五年中为股东带来了71%的回报,因此投资者可能会预期趋势会好转。无论如何,当前的潜在趋势对长期表现来说并不是一个好兆头,因此,除非趋势逆转,否则我们将开始将目光投向其他地方。
On a separate note, we've found 2 warning signs for Ningbo TechmationLtd you'll probably want to know about.
另一方面,我们发现了你可能想知道的宁波TechmationLtd的两个警告标志。
While Ningbo TechmationLtd 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.
尽管宁波TechmationLtd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。在这里查看这个免费清单。
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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。