Hangjin Technology (SZSE:000818) Might Be Having Difficulty Using Its Capital Effectively
Hangjin Technology (SZSE:000818) Might Be Having Difficulty Using Its Capital Effectively
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. However, after investigating Hangjin Technology (SZSE:000818), we don't think it's current trends fit the mold of a multi-bagger.
寻找具有大幅增长潜力的企业并不容易,但如果我们看几个关键的财务指标,这是可能的。首先,我们希望看到经过验证的 返回 关于正在增加的资本使用率(ROCE),其次是扩大 基础 所用资本的比例。基本上,这意味着公司拥有可以继续进行再投资的盈利计划,这是复合机器的特征。但是,在调查了航锦科技(深圳证券交易所代码:000818)之后,我们认为目前的趋势不符合多袋机的模式。
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. Analysts use this formula to calculate it for Hangjin Technology:
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)。分析师使用以下公式来计算航锦科技:
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)
0.057 = CN¥269m ÷ (CN¥7.0b - CN¥2.2b) (Based on the trailing twelve months to March 2024).
0.057 = 2.69亿元人民币 ÷(7.0亿元人民币-22亿元人民币) (基于截至2024年3月的过去十二个月)。
Therefore, Hangjin Technology has an ROCE of 5.7%. Even though it's in line with the industry average of 5.8%, it's still a low return by itself.
因此,航锦科技的投资回报率为5.7%。尽管它与行业平均水平的5.8%一致,但其本身的回报率仍然很低。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240409/0-261676c16e61257b8d341c1d76e4bbb8-0-800e66694fe749399facfb7c8cec00d8.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're interested in investigating Hangjin Technology's past further, check out this free graph covering Hangjin Technology's past earnings, revenue and cash flow.
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。如果你有兴趣进一步调查航锦科技的过去,请查看这张涵盖航锦科技过去的收益、收入和现金流的免费图表。
So How Is Hangjin Technology's ROCE Trending?
那么航锦科技的投资回报率如何走势呢?
In terms of Hangjin Technology's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 5.7% from 19% five years ago. 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.
就航锦科技的历史投资回报率走势而言,这一趋势并不理想。在过去五年中,资本回报率从五年前的19%下降到5.7%。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。
What We Can Learn From Hangjin Technology's ROCE
我们可以从航锦科技的投资回报率中学到什么
Bringing it all together, while we're somewhat encouraged by Hangjin Technology's reinvestment in its own business, we're aware that returns are shrinking. Investors must think there's better things to come because the stock has knocked it out of the park, delivering a 123% gain to shareholders who have held 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,尽管航锦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。投资者一定认为会有更好的事情发生,因为该股已经脱颖而出,为在过去五年中持股的股东带来了123%的收益。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”。
Hangjin Technology does have some risks though, and we've spotted 2 warning signs for Hangjin Technology that you might be interested in.
但是,航锦科技确实存在一些风险,我们已经发现了两个你可能会感兴趣的航锦科技警告信号。
While Hangjin 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.
尽管航锦科技的回报率并不高,但请查看这份免费清单,列出了资产负债表稳健的股本回报率高的公司。
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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。