The Returns On Capital At Jiangsu Olive Sensors High-Tech (SZSE:300507) Don't Inspire Confidence
The Returns On Capital At Jiangsu Olive Sensors High-Tech (SZSE:300507) Don't Inspire Confidence
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Jiangsu Olive Sensors High-Tech (SZSE:300507), it didn't seem to tick all of these boxes.
如果我们想确定可以长期成倍增长的股票,我们应该寻找什么趋势?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。但是,当我们查看江苏奥利弗传感器高科技(深圳证券交易所代码:300507)时,它似乎并没有勾选所有这些方框。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(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. Analysts use this formula to calculate it for Jiangsu Olive Sensors High-Tech:
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。分析师使用这个公式来计算江苏奥利弗传感器高科的计算公式:
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)
0.041 = CN¥87m ÷ (CN¥2.7b - CN¥598m) (Based on the trailing twelve months to September 2023).
0.041 = 8700万元人民币 ÷(27亿元人民币-5.98亿元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, Jiangsu Olive Sensors High-Tech has an ROCE of 4.1%. In absolute terms, that's a low return and it also under-performs the Auto Components industry average of 5.8%.
因此,江苏奥利弗传感高科的投资回报率为4.1%。从绝对值来看,这是一个低回报,其表现也低于汽车零部件行业平均水平的5.8%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240226/0-22fe23779d62f89011d83c1d54ea0463-0-9a08da0ed1c52f62a05fdab4348d36c8.png/big)
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Jiangsu Olive Sensors High-Tech.
虽然过去并不能代表未来,但了解一家公司的历史表现可能会有所帮助,这就是我们上面有这张图表的原因。如果您想深入研究历史收益,请查看这些免费图表,详细说明江苏奥利弗传感器高科技的收入和现金流表现。
The Trend Of ROCE
ROCE 的趋势
When we looked at the ROCE trend at Jiangsu Olive Sensors High-Tech, we didn't gain much confidence. Around five years ago the returns on capital were 10%, but since then they've fallen to 4.1%. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
当我们查看江苏奥利弗传感器高科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10%,但此后已降至4.1%。另一方面,该公司在去年一直在使用更多资本,但销售额没有相应改善,这可能表明这些投资是长期投资。从现在起,值得关注公司的收益,看看这些投资最终是否确实为利润做出了贡献。
Our Take On Jiangsu Olive Sensors High-Tech's ROCE
我们对江苏奥利弗传感器高科的ROCE的看法
Bringing it all together, while we're somewhat encouraged by Jiangsu Olive Sensors High-Tech'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 62% 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,尽管江苏奥利弗传感器高科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62%。归根结底,如果潜在的趋势持续下去,我们就不会屏住呼吸了,因为它是未来的 “多管齐下”。
On a final note, we found 2 warning signs for Jiangsu Olive Sensors High-Tech (1 is significant) you should be aware of.
最后,我们发现了江苏奥利弗传感器高科的2个警告信号(其中一个很重要),你应该注意。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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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。