Shanghai General Healthy Information and Technology's (SHSE:605186) Returns On Capital Not Reflecting Well On The Business
Shanghai General Healthy Information and Technology's (SHSE:605186) Returns On Capital Not Reflecting Well On The Business
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after investigating Shanghai General Healthy Information and Technology (SHSE:605186), we don't think it's current trends fit the mold of a multi-bagger.
你知道有一些财务指标可以为潜在的多袋人提供线索吗?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。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。但是,在调查了上海通用健康信息与技术(SHSE: 605186)之后,我们认为目前的趋势不符合多袋机的模式。
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. Analysts use this formula to calculate it for Shanghai General Healthy Information and Technology:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。分析师使用以下公式来计算上海通用健康信息与技术公司的计算公式:
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)
0.062 = CN¥71m ÷ (CN¥1.3b - CN¥148m) (Based on the trailing twelve months to September 2023).
0.062 = 7100万元人民币 ÷(13亿元人民币-1.48亿元人民币) (基于截至2023年9月的过去十二个月)。
Thus, Shanghai General Healthy Information and Technology has an ROCE of 6.2%. Ultimately, that's a low return and it under-performs the Medical Equipment industry average of 7.7%.
因此,上海通用健康信息与技术的投资回报率为6.2%。归根结底,这是一个低回报,其表现低于医疗设备行业平均水平的7.7%。
See our latest analysis for Shanghai General Healthy Information and Technology
查看我们对上海通用健康信息与技术的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240109/0-74dd2be82340d3098197b80f1ba18c45-0-3c4d90fc2db0196581aab487a043398c.png/big)
Above you can see how the current ROCE for Shanghai General Healthy Information and Technology 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 Shanghai General Healthy Information and Technology here for free.
在上方,您可以看到上海健健信息技术有限公司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报道上海健康信息与技术的分析师的预测。
What Does the ROCE Trend For Shanghai General Healthy Information and Technology Tell Us?
上海通用健康信息技术的投资回报率趋势告诉我们什么?
In terms of Shanghai General Healthy Information and Technology's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 6.2% from 39% five years ago. Given the business is employing more capital while revenue has slipped, this is a bit concerning. If this were to continue, you might be looking at a company that is trying to reinvest for growth but is actually losing market share since sales haven't increased.
就上海康健信息与科技的历史ROCE走势而言,这一趋势并不理想。在过去五年中,资本回报率从五年前的39%下降到6.2%。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。如果这种情况继续下去,你可能会看到一家试图进行再投资以促进增长,但由于销售额没有增加,实际上正在失去市场份额的公司。
On a side note, Shanghai General Healthy Information and Technology has done well to pay down its current liabilities to 11% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
顺便说一句,上海健健信息技术有限公司在偿还其流动负债至总资产的11%方面做得很好。这可以部分解释投资回报率下降的原因。实际上,这意味着他们的供应商或短期债权人减少了对企业的融资,从而降低了某些风险因素。有人会声称这降低了企业产生投资回报的效率,因为该公司现在正在用自己的资金为更多的业务提供资金。
The Bottom Line
底线
We're a bit apprehensive about Shanghai General Healthy Information and Technology because despite more capital being deployed in the business, returns on that capital and sales have both fallen. But investors must be expecting an improvement of sorts because over the last three yearsthe stock has delivered a respectable 56% return. In any case, the current underlying trends don't bode well for long term performance so unless they reverse, we'd start looking elsewhere.
我们对上海康健信息技术有限公司有点担心,因为尽管在业务中投入了更多资金,但资本回报率和销售额都下降了。但是投资者一定会期待某种程度的改善,因为在过去的三年中,该股的回报率为56%。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。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for Shanghai General Healthy Information and Technology (of which 1 is potentially serious!) that you should know about.
由于几乎每家公司都面临一些风险,因此值得了解它们是什么,我们已经发现了上海通用健康信息技术公司的两个警告信号(其中一个可能很严重!)你应该知道的。
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。