Returns Are Gaining Momentum At TCL Zhonghuan Renewable Energy TechnologyLtd (SZSE:002129)
Returns Are Gaining Momentum At TCL Zhonghuan Renewable Energy TechnologyLtd (SZSE:002129)
There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, we've noticed some promising trends at TCL Zhonghuan Renewable Energy TechnologyLtd (SZSE:002129) so let's look a bit deeper.
如果我们想确定下一个多功能装袋机,有一些关键趋势需要关注。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。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。考虑到这一点,我们注意到TCL中环可再生能源技术有限公司(SZSE:002129)的一些令人鼓舞的趋势,因此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. Analysts use this formula to calculate it for TCL Zhonghuan Renewable Energy TechnologyLtd:
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)。分析师使用这个公式来计算TCL中环可再生能源科技有限公司的利润:
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)
0.08 = CN¥8.5b ÷ (CN¥127b - CN¥20b) (Based on the trailing twelve months to September 2023).
0.08 = 8.5亿元人民币 ÷(127亿元人民币-20亿元人民币) (基于截至2023年9月的过去十二个月)。
Thus, TCL Zhonghuan Renewable Energy TechnologyLtd has an ROCE of 8.0%. On its own that's a low return, but compared to the average of 4.2% generated by the Semiconductor industry, it's much better.
因此,TCL中环可再生能源科技有限公司的投资回报率为8.0%。这本身就是一个低回报,但与半导体行业4.2%的平均回报率相比,要好得多。
Check out our latest analysis for TCL Zhonghuan Renewable Energy TechnologyLtd
查看我们对TCL中环可再生能源科技有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240126/0-dc9bc8614282c0446dd7945678f0d0d4-0-526784642b570527196d84c778332822.png/big)
In the above chart we have measured TCL Zhonghuan Renewable Energy TechnologyLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering TCL Zhonghuan Renewable Energy TechnologyLtd here for free.
在上图中,我们将TCL中环可再生能源科技有限公司之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。如果你愿意,可以在这里免费查看报道TCL中环可再生能源科技有限公司的分析师的预测。
What Can We Tell From TCL Zhonghuan Renewable Energy TechnologyLtd's ROCE Trend?
我们可以从TCL中环再生能源科技有限公司的投资回报率趋势中得出什么?
Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. Over the last five years, returns on capital employed have risen substantially to 8.0%. The amount of capital employed has increased too, by 318%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
尽管投资回报率的绝对值仍然很低,但很高兴看到它正朝着正确的方向前进。在过去五年中,已动用资本回报率大幅上升至8.0%。使用的资本金额也增加了318%。这可能表明,内部有很多机会以更高的利率进行资本投资,这种组合在多袋公司中很常见。
One more thing to note, TCL Zhonghuan Renewable Energy TechnologyLtd has decreased current liabilities to 16% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books.
还有一件事需要注意,在此期间,TCL中环可再生能源科技有限公司已将流动负债减少至总资产的16%,这实际上减少了供应商或短期债权人的融资金额。因此,我们可以放心,ROCE的增长是业务基本改善的结果,而不是以该公司书籍为特色的烹饪课。
In Conclusion...
总之...
To sum it up, TCL Zhonghuan Renewable Energy TechnologyLtd has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
总而言之,TCL中环可再生能源科技有限公司已经证明它可以对该业务进行再投资,并从所使用的资本中获得更高的回报,这太棒了。而且,由于该股在过去五年中表现异常出色,投资者正在考虑这些模式。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 separate note, we've found 2 warning signs for TCL Zhonghuan Renewable Energy TechnologyLtd you'll probably want to know about.
另一方面,我们发现了你可能想知道的TCL中环可再生能源科技有限公司的两个警告信号。
While TCL Zhonghuan Renewable Energy TechnologyLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管TCL中环可再生能源科技有限公司的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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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。