Fujian Dongbai (Group)Ltd (SHSE:600693) Will Want To Turn Around Its Return Trends
Fujian Dongbai (Group)Ltd (SHSE:600693) Will Want To Turn Around Its Return Trends
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding 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 investigating Fujian Dongbai (Group)Ltd (SHSE:600693), we don't think it's current trends fit the mold of a multi-bagger.
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?通常,我们希望注意到增长的趋势 返回 在资本使用率(ROCE)方面,除此之外,还在扩大 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,在调查了福建东柏(集团)有限公司(SHSE: 600693)之后,我们认为目前的趋势不符合多袋机的模式。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Fujian Dongbai (Group)Ltd, this is the formula:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。要计算福建东柏(集团)有限公司的这一指标,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)
0.043 = CN¥380m ÷ (CN¥14b - CN¥5.6b) (Based on the trailing twelve months to September 2023).
0.043 = 3.8亿元人民币 ÷(14亿元人民币-5.6亿元人民币) (基于截至2023年9月的过去十二个月)。
Thus, Fujian Dongbai (Group)Ltd has an ROCE of 4.3%. In absolute terms, that's a low return but it's around the Multiline Retail industry average of 5.3%.
因此,福建东柏(集团)有限公司的投资回报率为4.3%。从绝对值来看,回报率很低,但约为多线零售行业的平均水平5.3%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240205/0-2abd58b354f94a9c6855d565069634e5-0-192e13779bb96fbd3bb0ce3f6844998f.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Fujian Dongbai (Group)Ltd's ROCE against it's prior returns. If you're interested in investigating Fujian Dongbai (Group)Ltd'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,因此在上方您可以看到福建东柏(集团)有限公司的投资回报率与先前回报率对比的指标。如果你有兴趣进一步调查福建东柏(集团)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。
The Trend Of ROCE
ROCE 的趋势
We weren't thrilled with the trend because Fujian Dongbai (Group)Ltd's ROCE has reduced by 59% over the last five years, while the business employed 108% more capital. However, some of the increase in capital employed could be attributed to the recent capital raising that's been completed prior to their latest reporting period, so keep that in mind when looking at the ROCE decrease. It's unlikely that all of the funds raised have been put to work yet, so as a consequence Fujian Dongbai (Group)Ltd might not have received a full period of earnings contribution from it.
我们对这一趋势并不感到兴奋,因为福建东柏(集团)有限公司的投资回报率在过去五年中下降了59%,而该业务使用的资本增加了108%。但是,动用资本的增加在一定程度上可能归因于最近的融资是在其最新报告期之前完成的,因此在考虑投资回报率下降时请记住这一点。目前筹集的资金不太可能全部投入使用,因此,福建东柏(集团)有限公司可能没有从中获得完整的收益缴款。
Our Take On Fujian Dongbai (Group)Ltd's ROCE
我们对福建东柏(集团)有限公司投资回报率的看法
To conclude, we've found that Fujian Dongbai (Group)Ltd is reinvesting in the business, but returns have been falling. Since the stock has declined 36% over the last five years, investors may not be too optimistic on this trend improving either. Therefore based on the analysis done in this article, we don't think Fujian Dongbai (Group)Ltd has the makings of a multi-bagger.
总之,我们发现福建东柏(集团)有限公司正在对该业务进行再投资,但回报率一直在下降。由于该股在过去五年中下跌了36%,因此投资者对这一趋势的改善可能也不太乐观。因此,根据本文的分析,我们认为福建东柏(集团)有限公司不具备多装袋机的实力。
If you want to know some of the risks facing Fujian Dongbai (Group)Ltd we've found 4 warning signs (3 can't be ignored!) that you should be aware of before investing here.
如果你想了解福建东柏(集团)有限公司面临的一些风险,我们发现了4个警告标志(3个不容忽视!)在这里投资之前,您应该注意这一点。
While Fujian Dongbai (Group)Ltd may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
尽管福建东柏(集团)有限公司目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司名单。在这里查看这个免费清单。
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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。