Shanghai Universal BiotechLtd (SZSE:301166) Is Reinvesting At Lower Rates Of Return
Shanghai Universal BiotechLtd (SZSE:301166) Is Reinvesting At Lower Rates Of Return
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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. However, after briefly looking over the numbers, we don't think Shanghai Universal BiotechLtd (SZSE:301166) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果我们想找到潜在的多袋装袋机,通常有一些潜在的趋势可以提供线索。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。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,在简短地查看了这些数字之后,我们认为上海环球生物技术有限公司(SZSE: 301166)在未来不具备多袋装生产商的实力,但让我们来看看为什么会这样。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(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. Analysts use this formula to calculate it for Shanghai Universal BiotechLtd:
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。分析师使用这个公式来计算上海环球生物技术有限公司的利润:
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)
0.014 = CN¥30m ÷ (CN¥2.3b - CN¥194m) (Based on the trailing twelve months to September 2023).
0.014 = 3000万元人民币 ÷(23亿元人民币-1.94亿元人民币) (基于截至2023年9月的过去十二个月)。
So, Shanghai Universal BiotechLtd has an ROCE of 1.4%. Ultimately, that's a low return and it under-performs the Healthcare industry average of 11%.
因此,上海环球生物技术有限公司的投资回报率为1.4%。归根结底,这是一个低回报,其表现低于医疗保健行业11%的平均水平。
Check out our latest analysis for Shanghai Universal BiotechLtd
查看我们对上海环球生物技术有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240123/0-f9d2dce58d54a698f37f20c3b698b6ba-0-61452f9cf1420dacbb3b298bc1b0bd50.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Shanghai Universal BiotechLtd's ROCE against it's prior returns. If you're interested in investigating Shanghai Universal BiotechLtd's past further, check out this free graph of past earnings, revenue and cash flow.
历史表现是研究股票的绝佳起点,因此您可以在上方看到上海环球生物技术有限公司的投资回报率与先前回报率的对比。如果你有兴趣进一步调查上海环球生物技术有限公司的过去,请查看这张过去收益、收入和现金流的免费图表。
What Can We Tell From Shanghai Universal BiotechLtd's ROCE Trend?
我们可以从上海环球生物技术有限公司的投资回报率趋势中得出什么?
When we looked at the ROCE trend at Shanghai Universal BiotechLtd, we didn't gain much confidence. To be more specific, ROCE has fallen from 24% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments.
当我们查看上海环球生物技术有限公司的投资回报率趋势时,我们并没有获得太大的信心。更具体地说,投资回报率已从过去五年的24%下降。同时,该业务正在使用更多的资本,但在过去的12个月中,这并没有对销售产生太大影响,因此这可能反映出长期投资。公司可能需要一段时间才能开始看到这些投资的收益发生任何变化。
On a side note, Shanghai Universal BiotechLtd has done well to pay down its current liabilities to 8.3% of total assets. So we could link some of this to the decrease in ROCE. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. 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,上海环球生物技术有限公司在偿还其流动负债至总资产的8.3%方面表现良好。因此,我们可以将其中一些与投资回报率的下降联系起来。更重要的是,这可以降低业务风险的某些方面,因为现在公司的供应商或短期债权人为其运营提供的资金减少了。有人会声称这降低了企业产生投资回报率的效率,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。
In Conclusion...
总之...
Bringing it all together, while we're somewhat encouraged by Shanghai Universal BiotechLtd's reinvestment in its own business, we're aware that returns are shrinking. Since the stock has declined 38% over the last year, investors may not be too optimistic on this trend improving either. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
综上所述,尽管上海环球生物技术有限公司对自有业务的再投资令我们感到有些鼓舞,但我们意识到回报正在萎缩。由于该股在过去一年中下跌了38%,因此投资者对这一趋势的改善可能也不太乐观。总的来说,我们对潜在趋势的启发不大,我们认为在其他地方找到多袋装机的可能性更大。
If you want to know some of the risks facing Shanghai Universal BiotechLtd we've found 3 warning signs (2 are a bit unpleasant!) that you should be aware of before investing here.
如果你想了解上海环球生物技术有限公司面临的一些风险,我们发现了3个警告信号(2个有点不愉快!)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。
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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。