Jilin Electric PowerLtd (SZSE:000875) Shareholders Will Want The ROCE Trajectory To Continue
Jilin Electric PowerLtd (SZSE:000875) Shareholders Will Want The ROCE Trajectory To Continue
There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Jilin Electric PowerLtd's (SZSE:000875) returns on capital, so let's have a look.
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。首先,我们想找一个正在成长的 返回 关于已用资本(ROCE),然后除此之外,还不断增加 基础 所用资本的比例。简而言之,这些类型的企业是复合机器,这意味着他们不断以更高的回报率对收益进行再投资。说到这里,我们注意到吉林电力股份有限公司(SZSE: 000875)的资本回报率发生了一些重大变化,所以让我们来看看吧。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(ROCE)?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Jilin Electric PowerLtd:
为了澄清一下你是否不确定,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。分析师使用这个公式来计算吉林电力有限公司的利润:
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)
0.061 = CN¥3.5b ÷ (CN¥75b - CN¥18b) (Based on the trailing twelve months to September 2023).
0.061 = 35亿元人民币 ÷(75亿元人民币-18亿元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, Jilin Electric PowerLtd has an ROCE of 6.1%. On its own that's a low return on capital but it's in line with the industry's average returns of 5.6%.
因此,吉林电力有限公司的投资回报率为6.1%。这本身就是很低的资本回报率,但与该行业5.6%的平均回报率一致。
Above you can see how the current ROCE for Jilin Electric PowerLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Jilin Electric PowerLtd .
上面你可以看到吉林电力有限公司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。如果您有兴趣,可以在我们的吉林电力有限公司免费分析师报告中查看分析师的预测。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 6.1%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 157%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我们很高兴看到投资回报率正朝着正确的方向前进,尽管目前投资回报率仍然很低。数字显示,在过去五年中,所用资本的回报率已大幅增长至6.1%。实际上,该公司每使用1美元资本就能赚更多的钱,值得注意的是,资本金额也增加了157%。越来越多的资本所带来的回报率不断增加在多袋公司中很常见,这就是为什么我们印象深刻的原因。
On a related note, the company's ratio of current liabilities to total assets has decreased to 24%, which basically reduces it's funding from the likes of short-term creditors or suppliers. This tells us that Jilin Electric PowerLtd has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.
与此相关的是,该公司的流动负债占总资产的比率已降至24%,这基本上减少了来自短期债权人或供应商等机构的融资。这告诉我们,吉林电力有限公司在不依赖于增加流动负债的情况下增加了回报,我们对此感到非常满意。
In Conclusion...
总之...
All in all, it's terrific to see that Jilin Electric PowerLtd is reaping the rewards from prior investments and is growing its capital base. Since the stock has only returned 39% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
总而言之,看到吉林电力股份有限公司从先前的投资中获得回报,并正在扩大其资本基础,这真是太棒了。由于该股在过去五年中仅向股东回报了39%,因此前景良好的基本面可能尚未得到投资者的认可。有鉴于此,我们将进一步研究这只股票,以防它具有更多可以使其长期成倍增长的特征。
Jilin Electric PowerLtd does come with some risks though, we found 2 warning signs in our investment analysis, and 1 of those is potentially serious...
但是,吉林电力有限公司确实存在一些风险,我们在投资分析中发现了两个警告信号,其中一个可能很严重...
While Jilin Electric PowerLtd 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.
尽管吉林电力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。