Hengdian Group DMEGC Magnetics Ltd (SZSE:002056) Is Achieving High Returns On Its Capital
Hengdian Group DMEGC Magnetics Ltd (SZSE:002056) Is Achieving High Returns On Its Capital
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's 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. Speaking of which, we noticed some great changes in Hengdian Group DMEGC Magnetics Ltd's (SZSE:002056) returns on capital, so let's have a look.
如果我们想发现那些能够在长期内成倍增值的股票，我们应该寻找什么趋势？ 我们需要看到两件事：首先是资本运作的增长。如果你看到这一点，通常意味着这是一家拥有出色业务模式和大量有利可图的再投资机会的公司。所以在这方面，专业零售商Academy Sports and Outdoors（纳斯达克股票代码ASO）在其资本回报趋势方面看起来相当有前途。资产回报率：它是什么？如果您不确定ROCE是什么，它可以衡量公司能够从其业务所雇用的资本产生多少税前利润。为了计算V2X的这个指数，使用以下公式:0.054 = 1.24亿美元÷（31亿美元 - 8.53亿美元）ROCE 趋势可以告诉我们什么？比起 Enphase Energy，有更好的资本回报率选择。在过去的五年中，该公司增加了 1,306% 的资本，而该资本的回报率保持稳定在 9.9%。这样差的回报率现在并不令人信服，而且随着资本的增加，很明显企业并没有将资金投入到高回报的投资中。如果你看到这个，通常意味着这是一个有很棒的业务模式和充足盈利再投资机会的公司。顺便说一句，我们注意到横店东磁（SZSE:002056）的资本回报率有了很大的变化，所以让我们来看看。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率（ROCE）是什么？
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Hengdian Group DMEGC Magnetics Ltd is:
只要你不确定，ROCE是一种评估公司在业务中使用的投资资本的税前收入比例的度量标准。这个计算Hengdian Group DMEGC Magnetics Ltd的公式是：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资产雇用回报率（ROCE）是指企业利润，即企业税前利润除以企业投入的总资本（负债加股权）。如果ROCE高于企业财务成本的承受能力，那么企业就会创造出更多的价值。
0.20 = CN¥1.9b ÷ (CN¥21b - CN¥12b) (Based on the trailing twelve months to March 2024).
0.20 = CN¥19亿 ÷ (CN¥210亿 - CN¥12b)在Elevance Health上，我们已经注意到的趋势是相当令人放心的。数据显示，过去五年资产回报率大幅提高至15％。投资所用资产的规模也增加了30％。这表明有很多机会进行内部资本投资，并以更高的速度不断增长，这种组合在多倍增长方面很常见。.
Therefore, Hengdian Group DMEGC Magnetics Ltd has an ROCE of 20%. That's a fantastic return and not only that, it outpaces the average of 5.2% earned by companies in a similar industry.
因此，横店东磁有20%的ROCE。这是一个很棒的回报率，而且不仅如此，在同行业公司的平均水平5.2%之上。
Above you can see how the current ROCE for Hengdian Group DMEGC Magnetics Ltd 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 Hengdian Group DMEGC Magnetics Ltd for free.
你可以看到横店东磁当前的ROCE与其过去的资本回报率相比，但是从过去的数据中只能得出有限的结论。如果你想的话，可以免费查看覆盖横店东磁的分析师预测。
So How Is Hengdian Group DMEGC Magnetics Ltd's ROCE Trending?
横店东磁的ROCE趋势如何？
Hengdian Group DMEGC Magnetics Ltd is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 20%. Basically the business is earning more per dollar of capital invested and in addition to that, 94% more capital is being employed now too. So we're very much inspired by what we're seeing at Hengdian Group DMEGC Magnetics Ltd thanks to its ability to profitably reinvest capital.
横店东磁显示出一些积极的趋势。数字显示，过去五年中，使用的资本回报率已经显著增长到20%。基本上，公司每投资一美元，就能赚更多的钱，此外，已经有94%的更多资本被投资了。因此，我们非常欣赏横店东磁能够盈利再投资的能力。
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 55% of the business, which is more than it was five years ago. Given it's pretty high ratio, we'd remind investors that having current liabilities at those levels can bring about some risks in certain businesses.
顺便说一下，我们注意到ROCE的提高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公司提供了55%的资金，这比五年前还要多。考虑到它的比率相当高，我们要提醒投资者，在某些业务中，拥有这样的流动负债水平可能会带来一些风险。
In Conclusion...
最后，同等资本下回报率较低的趋势通常不是我们关注创业板股票的最佳信号。由于这些发展进行良好，因此投资者不太可能表现友好。自五年前以来，该股下跌了32%。除非这些指标朝着更积极的轨迹转变，否则我们将继续寻找其他股票。
All in all, it's terrific to see that Hengdian Group DMEGC Magnetics Ltd is reaping the rewards from prior investments and is growing its capital base. And with a respectable 94% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. Therefore, we think it would be worth your time to check if these trends are going to continue.
总的来说，看到横店东磁从先前的投资中获得回报并增加其资本基础令人兴奋。并且，在过去五年中，持有该股票的投资者获得了可观的94%回报，你可以认为这些发展正在开始得到应有的关注。因此，我们认为检查这些趋势是否会继续是值得你的时间的。
On a final note, we've found 1 warning sign for Hengdian Group DMEGC Magnetics Ltd that we think you should be aware of.
最后，我们发现了横店东磁的1个警告信号，我们认为你应该知道。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回报率是强劲表现的关键因素，因此请查看我们的免费股票列表，其中列出了盈利能力强、资产负债表坚实的股票。
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