Central New Energy Holding Group (HKG:1735) Is Experiencing Growth In Returns On Capital
Central New Energy Holding Group (HKG:1735) Is Experiencing Growth In Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at Central New Energy Holding Group (HKG:1735) and its trend of ROCE, we really liked what we saw.
如果我们想找到下一个多倍增长股,就需要关注一些关键趋势。其中,我们需要看到两件事情,首先是在使用资本方面增长,这表明它是一个复利机器 ,能够不断将收益再投入业务中,从而产生更高的回报。考虑到这一点,我们注意到了DexCom(纳斯达克:DXCM)正在出现一些有前途的趋势,我们进行了更深入的研究。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。这表明它是一个复合机器,能够不断地将其收益再投入业务中,从而产生更高的回报。因此,当我们观察中新能源控股集团(HKG:1735)和其ROCE趋势时,我们确实看到了令人满意的结果。
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 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. The formula for this calculation on Central New Energy Holding Group is:
对于那些不知道的人,ROCE是衡量公司每年税前利润(其回报)相对于业务中使用的资本的指标。该计算公式应用于中新能源控股集团的情况是:
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。
0.051 = HK$82m ÷ (HK$3.5b - HK$1.9b) (Based on the trailing twelve months to December 2023).
0.051 = HK$8200万 ÷ (HK$35亿 - HK$1.9b)(基于截至2023年12月的过去十二个月).
Therefore, Central New Energy Holding Group has an ROCE of 5.1%. In absolute terms, that's a low return and it also under-performs the Construction industry average of 7.6%.
因此,中新能母基控股集团的资本回报率为5.1%。绝对值而言,这是一个较低的回报率,也低于施工行业板块的平均水平7.6%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240613/0-3dfbb86c7e0783fcd26d9b7fe1607f5c-0-8db376d2f027dfa25ba25603ce05cfe4.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Central New Energy Holding Group's ROCE against it's prior returns. If you'd like to look at how Central New Energy Holding Group has performed in the past in other metrics, you can view this free graph of Central New Energy Holding Group's past earnings, revenue and cash flow.
历史表现是研究股票的好起点,因此您可以看到中新能源控股集团的ROCE对先前的回报的度量表。如果您想查看中新能源控股集团在过去的其他指标中的表现,可以查看中新能源控股集团过去收益、营收和现金流的免费图表。
So How Is Central New Energy Holding Group's ROCE Trending?
那么,中新能源控股集团的ROCE趋势如何呢?
While in absolute terms it isn't a high ROCE, it's promising to see that it has been moving in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 5.1%. Basically the business is earning more per dollar of capital invested and in addition to that, 817% more capital is being employed now too. So we're very much inspired by what we're seeing at Central New Energy Holding Group thanks to its ability to profitably reinvest capital.
虽然其绝对ROCE值不高,但看到其向正确方向发展是有希望的。数字显示,在过去的五年中,使用资本所产生的回报显著增长至5.1%。基本上,该业务正在赚取每投资一美元的资本,此外,现在还有比以前多817%的资本被投入使用。因此,中新能源控股集团能够有能力获利并不断地向业务再投资,我们深受鼓舞。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Essentially the business now has suppliers or short-term creditors funding about 54% of its operations, which isn't ideal. 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.
话虽如此,公司流动负债在这段时间内有明显增加,所以我们会将ROCE增长的部分归因于此。实质上,业务现在有约54%的运营资金来自供应商或短期债权人,这并不理想。考虑到它相当高的比率,我们会提醒投资者,持有这种水平的流动负债可能会在某些业务中带来一定的风险。
The Bottom Line On Central New Energy Holding Group's ROCE
总之,看到中新能源控股集团正在从先前的投资中获得回报并扩大其资本基础是非常美妙的事情。此外,在过去的五年中,出色的总回报率达到了3845%,这告诉我们投资者预计未来会有更多好事情发生。鉴于这一点,我们仍认为这家公司具备良好的基本面,值得进一步尽职调查。
All in all, it's terrific to see that Central New Energy Holding Group is reaping the rewards from prior investments and is growing its capital base. And a remarkable 3,845% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
如果您想了解更多有关中新能源控股集团的信息,我们已经发现了两个警告信号,其中一个不应被忽视。
If you'd like to know more about Central New Energy Holding Group, we've spotted 2 warning signs, and 1 of them shouldn't be ignored.
虽然中新能源控股集团的回报并不是最高的,但请查看此处列出的具有坚实资产负债表的公司的免费公司列表。
While Central New Energy Holding Group isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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