Guangzhou Great Power Energy and Technology (SZSE:300438) Will Want To Turn Around Its Return Trends
Guangzhou Great Power Energy and Technology (SZSE:300438) Will Want To Turn Around Its Return Trends
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Guangzhou Great Power Energy and Technology (SZSE:300438), it didn't seem to tick all of these boxes.
我们应该寻找哪些早期趋势来确定一只可能长期价值成倍增长的股票?除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 所用资本的比例。归根结底,这表明这是一家以不断提高的回报率对利润进行再投资的企业。但是,当我们查看广州巨能能源科技(SZSE: 300438)时,它似乎并没有勾选所有这些方框。
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 Guangzhou Great Power Energy 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广州巨能能源科技的计算公式:
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)
0.06 = CN¥518m ÷ (CN¥16b - CN¥7.4b) (Based on the trailing twelve months to September 2023).
0.06 = 5.18亿元人民币 ÷(16亿元人民币-7.4亿元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, Guangzhou Great Power Energy and Technology has an ROCE of 6.0%. On its own that's a low return on capital but it's in line with the industry's average returns of 6.3%.
因此,广州巨能能源科技的投资回报率为6.0%。这本身就是很低的资本回报率,但与该行业6.3%的平均回报率一致。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240225/0-3e536b8e984657e963e5f60530d06d75-0-edfd9e7403a9413c3503b9b25493bf8b.png/big)
In the above chart we have measured Guangzhou Great Power Energy and Technology's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Guangzhou Great Power Energy and Technology .
在上图中,我们将广州巨能能源科技先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。如果你想了解分析师对未来的预测,你应该查看我们为广州巨能能源科技提供的免费分析师报告。
The Trend Of ROCE
ROCE 的趋势
We weren't thrilled with the trend because Guangzhou Great Power Energy and Technology's ROCE has reduced by 61% over the last five years, while the business employed 273% 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 Guangzhou Great Power Energy and Technology 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,因为广州巨能能源科技的投资回报率在过去五年中下降了61%,而该业务使用的资本增加了273%。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,广州巨能能源科技可能尚未从中获得整整一段时间的收益捐款。
Another thing to note, Guangzhou Great Power Energy and Technology has a high ratio of current liabilities to total assets of 46%. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
需要注意的另一件事是,广州巨能能源科技的流动负债占总资产的比例很高,为46%。这实际上意味着供应商(或短期债权人)正在为业务的很大一部分提供资金,因此请注意,这可能会带来一些风险因素。虽然这不一定是坏事,但如果这个比率较低,可能会有好处。
The Bottom Line
底线
Bringing it all together, while we're somewhat encouraged by Guangzhou Great Power Energy and Technology's reinvestment in its own business, we're aware that returns are shrinking. Although the market must be expecting these trends to improve because the stock has gained 54% over the last five years. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
综上所述,尽管广州巨能能源科技对自有业务的再投资使我们感到有些鼓舞,但我们意识到回报正在萎缩。尽管市场必须预期这些趋势会有所改善,因为该股在过去五年中上涨了54%。归根结底,如果潜在趋势持续下去,我们就不会屏住呼吸了。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for Guangzhou Great Power Energy and Technology (of which 1 shouldn't be ignored!) 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,我们已经发现了广州巨能能源科技的3个警告信号(其中1个不容忽视!)你应该知道的。
While Guangzhou Great Power Energy and Technology isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管广州巨能能源科技的回报率并不高,但请查看这份免费的股本回报率高、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。