Some Investors May Be Worried About OPT Machine Vision Tech's (SHSE:688686) Returns On Capital
Some Investors May Be Worried About OPT Machine Vision Tech's (SHSE:688686) Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing 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. Although, when we looked at OPT Machine Vision Tech (SHSE:688686), it didn't seem to tick all of these boxes.
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。一种常见的方法是尝试找一家公司 回报 论资本使用率(ROCE)在增加的同时增长 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。但是,当我们研究OPT机器视觉技术(SHSE: 688686)时,它似乎并没有勾选所有这些方框。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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. To calculate this metric for OPT Machine Vision Tech, this is the formula:
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。要计算OPT机器视觉技术的这个指标,公式如下:
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)
0.079 = CN¥231m ÷ (CN¥3.1b - CN¥196m) (Based on the trailing twelve months to September 2023).
0.079 = 2.31亿元人民币 ÷(31亿元人民币-1.96亿元人民币) (基于截至2023年9月的过去十二个月)。
Thus, OPT Machine Vision Tech has an ROCE of 7.9%. On its own that's a low return, but compared to the average of 5.0% generated by the Electronic industry, it's much better.
因此,OPT机器视觉技术的投资回报率为7.9%。就其本身而言,回报率很低,但与电子行业平均5.0%的回报率相比,要好得多。
Check out our latest analysis for OPT Machine Vision Tech
查看我们对 OPT 机器视觉技术的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240127/0-e04e40634bfa5737e258820183317387-0-3b0352b3b6a6a3e324da08814a189473.png/big)
Above you can see how the current ROCE for OPT Machine Vision Tech 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 OPT Machine Vision Tech here for free.
在上面你可以看到OPT机器视觉技术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OPT机器视觉技术的分析师的预测。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
When we looked at the ROCE trend at OPT Machine Vision Tech, we didn't gain much confidence. Around five years ago the returns on capital were 43%, but since then they've fallen to 7.9%. However it looks like OPT Machine Vision Tech might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
当我们观察OPT机器视觉科技的投资回报率趋势时,我们并没有获得太大的信心。大约五年前,资本回报率为43%,但此后已降至7.9%。但是,看来OPT Machine Vision Tech可能正在进行再投资以实现长期增长,因为尽管动用资本有所增加,但该公司的销售额在过去12个月中没有太大变化。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, OPT Machine Vision Tech has done well to pay down its current liabilities to 6.3% of total assets. That could partly explain why the ROCE has dropped. 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,OPT机器视觉技术在将其流动负债偿还至总资产的6.3%方面做得很好。这可以部分解释投资回报率下降的原因。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...
To conclude, we've found that OPT Machine Vision Tech is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 64% in the last three years. 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.
总而言之,我们发现OPT机器视觉技术正在对该业务进行再投资,但回报率一直在下降。投资者似乎对趋势能否回升犹豫不决,因为该股在过去三年中下跌了64%。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。
OPT Machine Vision Tech does have some risks though, and we've spotted 2 warning signs for OPT Machine Vision Tech that you might be interested in.
但是,OPT机器视觉技术确实存在一些风险,我们已经发现了两个你可能会感兴趣的OPT机器视觉技术的警告信号。
While OPT Machine Vision Tech 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OPT Machine Vision Tech的回报率并不高,但请查看这份免费清单,列出了资产负债表稳健的股本回报率高的公司。
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