Capital Allocation Trends At Hunan Aerospace Huanyu Communication TechnologyLTD (SHSE:688523) Aren't Ideal
Capital Allocation Trends At Hunan Aerospace Huanyu Communication TechnologyLTD (SHSE:688523) Aren't Ideal
There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after briefly looking over the numbers, we don't think Hunan Aerospace Huanyu Communication TechnologyLTD (SHSE:688523) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果我们想找到下一个多倍投资,有一些关键趋势需要注意。通常,我们需要注意资本运营的增长趋势。基本上,这意味着公司有盈利的计划,可以继续投资,这是一个复利机器的特征。然而,经过简要地查看数字,我们认为 CommScope Holding Company(纳斯达克代码:commscope)未来并没有成为多倍投资的迹象,但让我们来看看原因。资产回报率:它是什么?对于那些不知道ROCE是什么的人,ROCE是一个公司每年税前利润(回报)与企业用于投资的资本关系的度量。在Elevance Health的计算公式如下:资产回报率 = 利息和所得税前收益(EBIT)÷(总资产-流动负债)这显示它是一个不断将利润再投入业务中并产生更高回报的复利机器。但是,经过简要的数据查看,我们不认为湖南航天环宇通讯技术有限公司(SHSE:688523)具备未来的赚倍股的特质,但让我们来看看原因。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法:正如我们上面看到的,Enphase Energy 的资本回报率没有提高,但它正在重新投资于业务。投资者必须认为未来会有更好的前景,因为股票表现良好,使持股五年以上的股东获得了 690% 的收益。最终,如果基本趋势持续存在,我们不会对它成为一只多头股持有期很久很有信心。
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Hunan Aerospace Huanyu Communication TechnologyLTD is:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中所使用的资本中可以产生多少税前收益。在湖南航天环宇通讯技术有限公司的计算公式如下:
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。
0.051 = CN¥102m ÷ (CN¥2.2b - CN¥248m) (Based on the trailing twelve months to March 2024).
0.051 = CN¥10200万 ÷ (CN¥22亿 - CN¥248m)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。.
So, Hunan Aerospace Huanyu Communication TechnologyLTD has an ROCE of 5.1%. In absolute terms, that's a low return but it's around the Aerospace & Defense industry average of 4.3%.
所以,湖南航天环宇通讯技术有限公司的ROCE为5.1%。就绝对数而言,这是一个低回报,但它接近于航空与国防行业板块的平均水平(4.3%)。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240610/0-12aed4d20cabe2fb260d311218770a6d-0-29ba790060c0b2ff52dbc95b55e3aac7.png/big)
Above you can see how the current ROCE for Hunan Aerospace Huanyu Communication TechnologyLTD compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Hunan Aerospace Huanyu Communication TechnologyLTD .
您可以看到,湖南航天环宇通讯技术有限公司目前的ROCE与其之前的资本回报比较,但过去只能说明那么多。您可以查看我们为湖南航天环宇通讯技术有限公司提供的免费分析师报告,了解分析师对公司未来的预测。
So How Is Hunan Aerospace Huanyu Communication TechnologyLTD's ROCE Trending?
湖南航天环宇通讯技术有限公司的ROCE趋势如何?
On the surface, the trend of ROCE at Hunan Aerospace Huanyu Communication TechnologyLTD doesn't inspire confidence. Over the last four years, returns on capital have decreased to 5.1% from 14% four years ago. 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. If these investments prove successful, this can bode very well for long term stock performance.
表面上看,湖南航天环宇通讯技术有限公司的ROCE趋势并不令人信服。过去四年中,资本回报从14%下降到5.1%。尽管营收和业务中资产的金额都有所增加,但这可能表明公司正在投资于创业板并且额外的资本已导致ROCE短期降低。如果这些投资证明成功,这对长期股票表现非常有利。
The Bottom Line On Hunan Aerospace Huanyu Communication TechnologyLTD's ROCE
湖南航天环宇通讯技术有限公司ROCE的底线
In summary, despite lower returns in the short term, we're encouraged to see that Hunan Aerospace Huanyu Communication TechnologyLTD is reinvesting for growth and has higher sales as a result. These growth trends haven't led to growth returns though, since the stock has fallen 33% over the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
总之,尽管短期内回报较低,我们很高兴看到湖南航天环宇通讯技术有限公司正在为创业板再投资并取得更高的销售额。这些增长趋势尽管未带来回报增长,但股票在过去一年中下跌了33%。所以我们认为,考虑到趋势看起来令人鼓舞,进一步研究这只股票是值得的。
One final note, you should learn about the 3 warning signs we've spotted with Hunan Aerospace Huanyu Communication TechnologyLTD (including 1 which is potentially serious) .
最后的一条注记是,您应该了解我们发现的湖南航天环宇通讯技术有限公司的3个警告信号(其中1个可能很严重)。
While Hunan Aerospace Huanyu Communication TechnologyLTD 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.
虽然湖南航天环宇通讯技术有限公司目前的回报率不是最高的,但我们已经编制了一份当前回报率超过25%的公司列表。在此免费查看这个列表。
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