Hubei Kailong Chemical Group (SZSE:002783) Is Experiencing Growth In Returns On Capital
Hubei Kailong Chemical Group (SZSE:002783) Is Experiencing Growth In Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Speaking of which, we noticed some great changes in Hubei Kailong Chemical Group's (SZSE:002783) returns on capital, so let's have a look.
要找到一只多袋装箱的股票,我们应该在企业中寻找哪些潜在趋势?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。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。说到这里,我们注意到湖北开龙化工集团(SZSE:002783)的资本回报率发生了一些很大的变化,让我们来看看吧。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Hubei Kailong Chemical Group:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。分析师使用以下公式计算湖北开龙化工集团的计算公式:
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)
0.10 = CN¥380m ÷ (CN¥7.5b - CN¥3.8b) (Based on the trailing twelve months to September 2023).
0.10 = 3.8亿元人民币 ÷(7.5亿元人民币-38亿元人民币) (基于截至2023年9月的过去十二个月)。
So, Hubei Kailong Chemical Group has an ROCE of 10%. In absolute terms, that's a satisfactory return, but compared to the Chemicals industry average of 5.8% it's much better.
因此,湖北开龙化工集团的投资回报率为10%。从绝对值来看,这是一个令人满意的回报,但与化工行业平均水平的5.8%相比,回报要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240427/0-23e65a73113b5256e94869e8f6119e2c-0-d62203f72eef080ee6c04c55fc0fcf17.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Hubei Kailong Chemical Group's ROCE against it's prior returns. If you're interested in investigating Hubei Kailong Chemical Group's past further, check out this free graph covering Hubei Kailong Chemical 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湖北开龙化工集团投资回报率与先前回报对比的指标。如果您有兴趣进一步调查湖北开龙化工集团的过去,请查看这张涵盖湖北开龙化工集团过去的收益、收入和现金流的免费图表。
What Does the ROCE Trend For Hubei Kailong Chemical Group Tell Us?
湖北开龙化工集团的投资回报率趋势告诉我们什么?
The trends we've noticed at Hubei Kailong Chemical Group are quite reassuring. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 10%. 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 46%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
我们在湖北开龙化工集团注意到的趋势相当令人放心。数字显示,在过去五年中,所用资本的回报率已大幅增长至10%。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46%。这可能表明,内部有很多机会以更高的利率进行资本投资,这种组合在多袋公司中很常见。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 50% of its operations, which isn't ideal. 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。从本质上讲,该企业现在有供应商或短期债权人为其约50%的业务提供资金,这并不理想。而且,在流动负债处于这些水平的情况下,这是相当高的。
The Key Takeaway
关键要点
In summary, it's great to see that Hubei Kailong Chemical Group can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Given the stock has declined 47% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. With that in mind, we believe the promising trends warrant this stock for further investigation.
总而言之,很高兴看到湖北开龙化工集团能够通过持续的资本再投资来提高回报率,从而提高回报率,因为这些是那些备受追捧的多袋装企业的一些关键要素。鉴于该股在过去五年中下跌了47%,如果估值和其他指标也具有吸引力,这可能是一项不错的投资。考虑到这一点,我们认为前景乐观的趋势值得对该股进行进一步调查。
If you'd like to know more about Hubei Kailong Chemical Group, we've spotted 4 warning signs, and 2 of them can't be ignored.
如果您想进一步了解湖北开龙化工集团,我们已经发现了4个警告标志,其中2个不容忽视。
While Hubei Kailong Chemical Group 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.
尽管湖北开龙化工集团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。