Canny Elevator's (SZSE:002367) Returns On Capital Are Heading Higher
Canny Elevator's (SZSE:002367) Returns On Capital Are Heading Higher
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at Canny Elevator (SZSE:002367) and its trend of ROCE, we really liked what we saw.
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?理想情况下,企业将表现出两种趋势;首先是增长 返回 论资本使用率(ROCE),其次是增加 金额 所用资本的比例。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。因此,当我们研究康尼电梯(深圳证券交易所:002367)及其投资回报率的趋势时,我们真的很喜欢我们所看到的。
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 Canny Elevator:
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康尼电梯的金额:
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)
0.17 = CN¥584m ÷ (CN¥7.4b - CN¥3.9b) (Based on the trailing twelve months to December 2023).
0.17 = 5.84亿元人民币 ÷(74亿元人民币-39亿元人民币) (基于截至2023年12月的过去十二个月)。
Therefore, Canny Elevator has an ROCE of 17%. In absolute terms, that's a satisfactory return, but compared to the Machinery industry average of 6.1% it's much better.
因此,康尼电梯的投资回报率为17%。从绝对值来看,这是一个令人满意的回报,但与机械行业的平均水平6.1%相比,回报要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240329/0-1b2492a87a27fa2199d24b0aead32f10-0-7573f7caa0704b37b2bd5f2bea5ed62e.png/big)
Above you can see how the current ROCE for Canny Elevator compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Canny Elevator .
上面你可以看到Canny Elevator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。如果你想了解分析师对未来的预测,你应该查看我们为康尼电梯提供的免费分析师报告。
What Does the ROCE Trend For Canny Elevator Tell Us?
康尼电梯的投资回报率趋势告诉我们什么?
Canny Elevator is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 1,359% in that same time. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
鉴于其投资回报率呈上升和向右倾斜的趋势,康尼电梯表现出希望。更具体地说,尽管该公司在过去五年中一直保持相对平稳的资本使用率,但同期投资回报率增长了1,359%。因此,我们的看法是,企业提高了效率以产生更高的回报,同时无需进行任何额外投资。但是,值得更深入地研究这个问题,因为尽管提高业务效率是件好事,但这也可能意味着未来缺乏内部投资以实现有机增长的领域。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 53% of the business, which is more than it was five years ago. And with current liabilities at those levels, that's pretty high.
顺便说一句,我们注意到,投资回报率的改善似乎部分是由流动负债的增加推动的。实际上,这意味着供应商或短期债权人现在为该业务的53%提供了资金,比五年前还要多。而且,在流动负债处于这些水平的情况下,这是相当高的。
The Bottom Line On Canny Elevator's ROCE
康尼电梯投资回报率的底线
In summary, we're delighted to see that Canny Elevator has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And given the stock has remained rather flat over the last five years, there might be an opportunity here if other metrics are strong. So researching this company further and determining whether or not these trends will continue seems justified.
总之,我们很高兴看到Canny Elevator能够提高效率,并在相同金额的资本下获得更高的回报率。鉴于该股在过去五年中一直保持相当平稳,如果其他指标表现强劲,这里可能会有机会。因此,进一步研究这家公司并确定这些趋势是否会持续下去似乎是合理的。
If you want to continue researching Canny Elevator, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想继续研究Canny Elevator,你可能有兴趣了解我们的分析发现的1个警告信号。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想寻找收益丰厚的稳健公司,可以免费查看这份资产负债表良好且股本回报率可观的公司名单。
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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。