Dazhong Transportation (Group) (SHSE:600611) Will Be Hoping To Turn Its Returns On Capital Around
Dazhong Transportation (Group) (SHSE:600611) Will Be Hoping To Turn Its Returns On Capital Around
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Having said that, from a first glance at Dazhong Transportation (Group) (SHSE:600611) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果我们想找到一只可以长期成倍增长的股票,我们应该寻找哪些潜在趋势?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。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。话虽如此,乍一看大众交通(集团)(SHSE: 600611),我们并不是对回报的趋势不屑一顾,但让我们更深入地了解一下。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Dazhong Transportation (Group) is:
如果你以前没有与ROCE合作过,它会衡量公司从其业务中使用的资本中产生的 “回报”(税前利润)。大众交通(集团)的计算公式为:
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)
0.032 = CN¥405m ÷ (CN¥18b - CN¥5.8b) (Based on the trailing twelve months to December 2023).
0.032 = 4.05亿元人民币 ÷(18亿元人民币-5.8亿元人民币) (基于截至2023年12月的过去十二个月)。
Therefore, Dazhong Transportation (Group) has an ROCE of 3.2%. Ultimately, that's a low return and it under-performs the Transportation industry average of 4.3%.
因此,大众交通(集团)的投资回报率为3.2%。归根结底,这是一个低回报,其表现低于运输行业4.3%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240405/0-2c8e1ab0e8fce982fc9bca293da607a4-0-bd154e31523c70703582b860405d3c87.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Dazhong Transportation (Group)'s ROCE against it's prior returns. If you're interested in investigating Dazhong Transportation (Group)'s past further, check out this free graph covering Dazhong Transportation (Group)'s 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大众交通(集团)的投资回报率与先前回报的对比。如果你有兴趣进一步调查大众交通(集团)的过去,请查看这张涵盖大众交通(集团)过去的收益、收入和现金流的免费图表。
How Are Returns Trending?
退货趋势如何?
In terms of Dazhong Transportation (Group)'s historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 7.1%, but since then they've fallen to 3.2%. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就大众交通(集团)的历史ROCE走势而言,这一趋势并不理想。大约五年前,资本回报率为7.1%,但此后已降至3.2%。尽管考虑到该业务的收入和资产数量都有所增加,但这可能表明该公司正在投资增长,而额外的资本导致了投资回报率的短期下降。而且,如果增加的资本产生额外的回报,那么从长远来看,企业乃至股东都将受益。
What We Can Learn From Dazhong Transportation (Group)'s ROCE
我们可以从大众交通(集团)的ROCE中学到什么
In summary, despite lower returns in the short term, we're encouraged to see that Dazhong Transportation (Group) is reinvesting for growth and has higher sales as a result. However, despite the promising trends, the stock has fallen 41% over the last five years, so there might be an opportunity here for astute investors. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.
总而言之,尽管短期内回报较低,但令我们感到鼓舞的是,大众运输(集团)正在进行再投资以实现增长,并因此实现了更高的销售额。但是,尽管趋势乐观,但该股在过去五年中下跌了41%,因此对于精明的投资者来说,这里可能有机会。因此,我们建议进一步研究这只股票,以发现该业务的其他基本面可以向我们展示什么。
On a final note, we found 4 warning signs for Dazhong Transportation (Group) (1 shouldn't be ignored) you should be aware of.
最后,我们发现了你应该注意的大众交通(集团)的4个警告标志(其中一个不容忽视)。
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。