Returns On Capital At Guangdong South New MediaLtd (SZSE:300770) Paint A Concerning Picture
Returns On Capital At Guangdong South New MediaLtd (SZSE:300770) Paint A Concerning Picture
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think Guangdong South New MediaLtd (SZSE:300770) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果你不确定从哪里开始寻找下一个股票翻倍的机会,那么就应该注意几个关键趋势。在完美的世界中,我们希望看到公司将更多资本投入到业务中,从而创造更好的回报。这不仅证明了公司正在以递增的回报率重新投资收益,同时也可能意味着公司正在以递增的回报率重新投资收益。然而,在简短地查看过数字之后,我们并不认为广东南方新媒体有限责任公司(SZSE:300770)未来会成为一个股票翻倍的机会,但让我们来看看原因。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较,但过去只能知道这么多。如果您感兴趣,可以查看我们免费的蒙托克可再生能源分析师报告,了解分析师的预测。
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 Guangdong South New MediaLtd is:
对于那些不了解的投资人,这种衡量公司每年税前利润(即回报率)与公司投资的资本的比率称之为 ROCE。在广东南方新媒体有限责任公司的计算公式为:
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。
0.17 = CN¥651m ÷ (CN¥4.9b - CN¥1.1b) (Based on the trailing twelve months to March 2024).
0.17 = CN¥65100万 ÷ (CN¥49亿 - CN¥1.1b) 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, Guangdong South New MediaLtd has an ROCE of 17%. On its own, that's a standard return, however it's much better than the 4.0% generated by the Media industry.
因此,广东南方新媒体有限责任公司的 ROCE 为 17%。单独看这个回报率是个标准回报,然而相较于媒体行业创造的 4.0% 的回报而言,这是一个更好的表现。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240705/0-5406461f5d6a1bc85a405b81bbcd9ad1-0-5308efe48f04cc45231e0f542a3d0eba.png/big)
In the above chart we have measured Guangdong South New MediaLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Guangdong South New MediaLtd for free.
在上面的图表中,我们测量了广东南方新媒体有限责任公司先前的 ROCE 与其先前的业绩,但未来的趋势可能更为重要。如果您愿意,您可以免费查看覆盖广东南方新媒体有限责任公司的分析师的预测。
What Can We Tell From Guangdong South New MediaLtd's ROCE Trend?
我们可以从广东南方新媒体有限责任公司的 ROCE 趋势得到什么信息?
When we looked at the ROCE trend at Guangdong South New MediaLtd, we didn't gain much confidence. Around five years ago the returns on capital were 29%, but since then they've fallen to 17%. 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.
当我们看广东南方新媒体有限责任公司的 ROCE 趋势时,我们并没有获得太多的信心。大约五年前,资本回报率为 29%,但此后已降至 17%。尽管营业收入和资产额都有所增加,但这表明公司正在投资于增长,而额外的资本投入导致了短期 ROCE 的下降。如果新增的资本产生额外的回报,公司和股东将从中受益。
On a side note, Guangdong South New MediaLtd has done well to pay down its current liabilities to 22% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. 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.
此外,广东南方新媒体有限责任公司缩减了其流动负债,使其占总资产的比例降至 22%。这可能部分解释了 ROCE 的下降。此外,这也可以减少企业风险的某些方面,因为公司的供应商或短期债权人在资助公司的运营方面的投入减少了。由于公司基本上是用自己的资金为其运营提供的,因此您可以说这使公司在产生 ROCE 方面的效率降低。
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 Guangdong South New MediaLtd. And there could be an opportunity here if other metrics look good too, because the stock has declined 11% in the last five years. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.
尽管短期内资本回报率下降,但广东南方新媒体有限责任公司的营业收入和资本投入均有所增加,我们认为这是个好迹象。如果其他指标看起来也不错,股票在过去五年中下跌了 11%,因此我们建议进一步研究此股票并发掘公司其他基本面。
On a separate note, we've found 1 warning sign for Guangdong South New MediaLtd you'll probably want to know about.
另外,我们已经发现广东南方新媒体有限责任公司有 1 条警告信息,您可能要知道。
While Guangdong South New MediaLtd 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.
尽管广东南方新媒体有限责任公司目前的回报并不是最高的,但我们已经编制了一份当前回报率高于 25% 的公司清单。在此免费列表中查看。
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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。或者,发送电子邮件至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
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。