Returns On Capital At Zhejiang Zhaolong Interconnect TechnologyLtd (SZSE:300913) Paint A Concerning Picture
Returns On Capital At Zhejiang Zhaolong Interconnect TechnologyLtd (SZSE:300913) Paint A Concerning Picture
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. In light of that, when we looked at Zhejiang Zhaolong Interconnect TechnologyLtd (SZSE:300913) and its ROCE trend, we weren't exactly thrilled.
你知道有一些财务指标可以为潜在的多袋人提供线索吗?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。有鉴于此,当我们查看浙江兆龙互连科技股份有限公司(深圳证券交易所代码:300913)及其投资回报率趋势时,我们并不十分兴奋。
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 Zhejiang Zhaolong Interconnect TechnologyLtd:
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。分析师使用这个公式来计算浙江兆龙互连科技有限公司的计算公式:
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)
0.081 = CN¥90m ÷ (CN¥1.3b - CN¥156m) (Based on the trailing twelve months to March 2024).
0.081 = 9000万元人民币 ÷(13亿元人民币-1.56亿元人民币) (基于截至2024年3月的过去十二个月)。
So, Zhejiang Zhaolong Interconnect TechnologyLtd has an ROCE of 8.1%. On its own that's a low return, but compared to the average of 6.7% generated by the Electrical industry, it's much better.
因此,浙江兆龙互连科技有限公司的投资回报率为8.1%。就其本身而言,回报率很低,但与电气行业6.7%的平均回报率相比,要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240430/0-d1d3af5c9c086e6c9721f2c9763ff4ab-0-f7e8aeff378a16a61975787e9ba3e0de.png/big)
Above you can see how the current ROCE for Zhejiang Zhaolong Interconnect TechnologyLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Zhejiang Zhaolong Interconnect TechnologyLtd for free.
上面你可以看到浙江兆龙互连科技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。如果你愿意,可以免费查看报道浙江兆龙互连科技有限公司的分析师的预测。
What Can We Tell From Zhejiang Zhaolong Interconnect TechnologyLtd's ROCE Trend?
我们可以从浙江兆龙互连科技有限公司的投资回报率趋势中得出什么?
The trend of ROCE doesn't look fantastic because it's fallen from 27% five years ago, while the business's capital employed increased by 268%. However, some of the increase in capital employed could be attributed to the recent capital raising that's been completed prior to their latest reporting period, so keep that in mind when looking at the ROCE decrease. Zhejiang Zhaolong Interconnect TechnologyLtd probably hasn't received a full year of earnings yet from the new funds it raised, so these figures should be taken with a grain of salt.
ROCE的趋势看起来并不理想,因为它从五年前的27%下降了,而该企业的使用资本增长了268%。但是,动用资本的增加在一定程度上可能归因于最近的融资是在其最新报告期之前完成的,因此在考虑投资回报率下降时请记住这一点。浙江兆龙互连科技有限公司可能尚未从其筹集的新资金中获得整整一年的收益,因此这些数字应该稍加考虑。
On a side note, Zhejiang Zhaolong Interconnect TechnologyLtd has done well to pay down its current liabilities to 12% of total assets. So we could link some of this to the decrease in ROCE. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.
顺便说一句,浙江兆龙互连科技有限公司在偿还其流动负债至总资产的12%方面做得很好。因此,我们可以将其中一些与ROCE的下降联系起来。实际上,这意味着他们的供应商或短期债权人减少了对企业的融资,从而降低了某些风险因素。由于该企业基本上是用自己的资金为其运营提供更多资金,因此你可以争辩说,这降低了企业产生投资回报的效率。
The Key Takeaway
关键要点
In summary, Zhejiang Zhaolong Interconnect TechnologyLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Investors must think there's better things to come because the stock has knocked it out of the park, delivering a 243% gain to shareholders who have held over the last three years. But if the trajectory of these underlying trends continue, we think the likelihood of it being a multi-bagger from here isn't high.
总而言之,浙江兆龙互连科技有限公司正在将资金再投资到该业务中以实现增长,但不幸的是,销售额似乎还没有太大增长。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,为在过去三年中持股的股东带来了243%的收益。但是,如果这些潜在趋势的发展轨迹继续下去,我们认为从现在起它成为多股势力的可能性并不高。
On a final note, we've found 1 warning sign for Zhejiang Zhaolong Interconnect TechnologyLtd that we think you should be aware of.
最后,我们发现了浙江兆龙互连科技有限公司的1个警告信号,我们认为您应该注意这一点。
While Zhejiang Zhaolong Interconnect TechnologyLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管浙江兆龙互连科技有限公司的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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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。