Investors Could Be Concerned With Jiangyin Haida Rubber And Plastic's (SZSE:300320) Returns On Capital
Investors Could Be Concerned With Jiangyin Haida Rubber And Plastic's (SZSE:300320) 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after briefly looking over the numbers, we don't think Jiangyin Haida Rubber And Plastic (SZSE:300320) 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。简单来说,这些类型的企业是复合机器,意味着他们持续以更高的回报率重新投资自己的收益。然而,我们粗略地浏览了一下这些数字,我们认为江阴海达橡胶塑料(SZSE:300320)未来不会成为一个多赚钱的机会,但让我们看看原因。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Jiangyin Haida Rubber And Plastic:
如果您以前没有接触ROCE,那么它衡量的是公司从营业资本中获得的'回报率'(税前利润)。分析师使用此公式来计算江阴海达橡胶塑料的ROCE:
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。
0.079 = CN¥185m ÷ (CN¥3.5b - CN¥1.1b) (Based on the trailing twelve months to March 2024).
0.079 = CN¥18500万 ÷(CN¥35亿 - CN¥1.1亿)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, Jiangyin Haida Rubber And Plastic has an ROCE of 7.9%. On its own that's a low return, but compared to the average of 5.5% generated by the Chemicals industry, it's much better.
因此,江阴海达橡胶塑料的ROCE为7.9%。就ROCE本身而言,这是一个低回报率,但与化学行业的平均水平5.5%相比,它要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240614/0-eb6f63cab6a552d51f0dba2401aa61d2-0-ca090fbff581fc8c379f5ccff113e48a.png/big)
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Jiangyin Haida Rubber And Plastic.
虽然过去不代表未来,但了解一家公司的历史表现可能很有帮助,这就是为什么我们有上面的这张图表。如果您想深入研究历史收益,请查看这些免费图表,详细说明江阴海达橡胶塑料的营收和现金流表现。
What Can We Tell From Jiangyin Haida Rubber And Plastic's ROCE Trend?
我们从江阴海达橡胶塑料的ROCE趋势中可以得出什么结论?
In terms of Jiangyin Haida Rubber And Plastic's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 7.9% from 14% five 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就江阴海达橡胶塑料历史上的ROCE变化而言,趋势并不理想。在过去的五年中,资本回报率从五年前的14%降至7.9%。尽管营收和企业所雇用的资产数量都有所增加,但这说明公司正在投资于成长,而额外的资本导致ROCE短期内有所下降。如果增加的资本带来了额外的回报,那么企业以及股东将从中受益。
The Bottom Line
还有一件事需要注意的是,我们已经确定了上海医药的2个警告信号,了解这些信号应该成为你的投资过程的一部分。
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Jiangyin Haida Rubber And Plastic. And the stock has followed suit returning a meaningful 99% to shareholders over the last five years. So while the underlying trends could already be accounted for by investors, we still think this stock is worth looking into further.
尽管资本回报率短期内有所下降,但我们发现江阴海达橡胶塑料的营收和投入资本都有所增加,这是一个有希望的迹象。该股票在过去的五年中为股东带来了显著的99%回报。因此,尽管潜在趋势可能已被投资者考虑在内,我们仍然认为这只股票值得进一步研究。
If you want to continue researching Jiangyin Haida Rubber And Plastic, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您希望继续研究江阴海达橡胶塑料,您可能会对我们分析发现的1个警告标志感兴趣。
While Jiangyin Haida Rubber And Plastic isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管江阴海达橡胶塑料的收益率不是最高的,但请查看此免费公司列表,这些公司在股本回报上赚取了高额收益,并具有坚实的资产负债表。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对本文有反馈?关于内容有所顾虑?直接和我们联系。或电邮 editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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