Sichuan Development Lomon (SZSE:002312) Might Have The Makings Of A Multi-Bagger
Sichuan Development Lomon (SZSE:002312) Might Have The Makings Of A Multi-Bagger
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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. Speaking of which, we noticed some great changes in Sichuan Development Lomon's (SZSE:002312) returns on capital, so let's have a look.
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?理想情况下,企业将表现出两种趋势;首先是增长 返回 论资本使用率(ROCE),其次是增加 金额 所用资本的比例。基本上,这意味着公司拥有可以继续进行再投资的盈利计划,这是复合机器的特征。说到这里,我们注意到四川发展龙门(SZSE:002312)的资本回报率发生了一些很大的变化,所以我们来看看吧。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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 Sichuan Development Lomon 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。四川发展龙纹的计算公式为:
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)
0.035 = CN¥442m ÷ (CN¥17b - CN¥4.1b) (Based on the trailing twelve months to September 2023).
0.035 = 4.42亿元人民币 ÷(17亿元人民币-41亿元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, Sichuan Development Lomon has an ROCE of 3.5%. Ultimately, that's a low return and it under-performs the Chemicals industry average of 5.5%.
因此,四川发展龙蒙的投资回报率为3.5%。归根结底,这是一个低回报,其表现低于化工行业5.5%的平均水平。
Check out our latest analysis for Sichuan Development Lomon
查看我们对四川发展龙蒙的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240108/0-bf2e064cb4fb6ac9ef9ea4227bb0ff94-0-9a168862667c55aa94dfce934eb4d547.png/big)
In the above chart we have measured Sichuan Development Lomon's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Sichuan Development Lomon.
在上图中,我们将四川发展龙目先前的投资回报率与之前的表现进行了对比,但可以说,未来更为重要。如果你想了解分析师对未来的预测,你应该查看我们为四川发展龙蒙提供的免费报告。
The Trend Of ROCE
ROCE 的趋势
Sichuan Development Lomon has recently broken into profitability so their prior investments seem to be paying off. The company was generating losses five years ago, but now it's earning 3.5% which is a sight for sore eyes. And unsurprisingly, like most companies trying to break into the black, Sichuan Development Lomon is utilizing 272% more capital than it was five years ago. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
四川发展龙蒙最近实现盈利,因此他们先前的投资似乎正在获得回报。该公司五年前出现亏损,但现在的收益为3.5%,这真是令人眼花缭乱。毫不奇怪,与大多数试图进入黑市的公司一样,四川发展龙蒙的资本使用量比五年前增加了272%。这可以告诉我们,该公司有大量的再投资机会,能够产生更高的回报。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 24% of its operations, which isn't ideal. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
顺便说一句,我们注意到,投资回报率的改善似乎部分是由流动负债的增加推动的。从本质上讲,该企业现在有供应商或短期债权人为其约24%的业务提供资金,这并不理想。值得关注这个问题,因为随着流动负债占总资产的百分比的增加,风险的某些方面也会增加。
The Bottom Line On Sichuan Development Lomon's ROCE
四川发展的底线 Lomon 的 ROCE
In summary, it's great to see that Sichuan Development Lomon has managed to break into profitability and is continuing to reinvest in its business. And a remarkable 108% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
总而言之,很高兴看到四川发展龙蒙成功实现盈利并继续对其业务进行再投资。过去五年中惊人的108%总回报率告诉我们,投资者预计未来还会有更多好事发生。话虽如此,我们仍然认为前景良好的基本面意味着公司值得进一步的尽职调查。
On a final note, we found 3 warning signs for Sichuan Development Lomon (1 doesn't sit too well with us) you should be aware of.
最后,我们发现了你应该注意的 3 个四川发展龙蟒警示信号(1 个对我们来说不太合适)。
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。
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。