Streamax Technology (SZSE:002970) Could Be Struggling To Allocate Capital
Streamax Technology (SZSE:002970) Could Be Struggling To Allocate Capital
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. 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 Streamax Technology (SZSE:002970) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果您想找一只长期回报倍增的股票,您应该关注哪些趋势?在完美的世界里,我们希望看到公司投入更多资本到其业务中,最好的情况是这些资本回报率也在不断提高。简单来说,这些类型的企业是复合机器,这意味着它们在不断地以越来越高的回报率再投资其收益。然而,经过简短的数字分析后,我们并不认为锐明技术股票(SZSE:002970)未来可能成为多倍增长者的标志,但让我们看看为什么。
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. To calculate this metric for Streamax Technology, this is the formula:
对于那些不知道ROCE是什么的人,ROCE是一个公司每年的利润(其回报)与在业务中所使用的资本相对应的衡量标准。为了计算这个指标,我们使用以下公式来计算Streamax Technology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。
0.066 = CN¥104m ÷ (CN¥2.5b - CN¥979m) (Based on the trailing twelve months to March 2024).
0.066 = CN¥10400万 ÷ (CN¥25亿 - CN¥979m)(基于截至2024年3月的过去十二个月)
Therefore, Streamax Technology has an ROCE of 6.6%. Even though it's in line with the industry average of 6.9%, it's still a low return by itself.
因此,锐明技术的ROCE为6.6%。尽管其与行业平均水平6.9%处于同一水平线上,但从其自身来看,这仍是一个较低的回报率。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240712/0-af7a8e16e50d6fb8c48e8c9cdbdcd3e9-0-202ebd7a188e8d1191ab6a53a200c6ff.png/big)
In the above chart we have measured Streamax Technology's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Streamax Technology .
在上图中,我们测量了Streamax Technology之前的ROCE与其之前业绩的对比情况,但未来可能更为重要。如果您想了解分析师们未来的预测,您应该查看我们为Streamax Technology提供的免费分析师报告。
How Are Returns Trending?
综合上述,Cimpress非常有效地提高了其资本利用率所产生的回报。考虑到股票过去五年保持稳定,如果其他指标也不错,则可能存在机会。因此,进一步研究这家公司并确定这些趋势是否会持续是合理的。
In terms of Streamax Technology's historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 32% over the last five years. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就锐明技术的历史ROCE变动而言,趋势并不理想。具体而言,ROCE在过去五年中已经下降了32%。然而,鉴于使用的资本和营业收入都在增加,看起来该企业目前正在追求增长,但会牺牲短期回报。如果增加的资本产生额外的回报,长远来看,企业和股东将从中受益。
The Bottom Line On Streamax Technology's ROCE
关于锐明技术的ROCE的底线
In summary, despite lower returns in the short term, we're encouraged to see that Streamax Technology is reinvesting for growth and has higher sales as a result. These trends are starting to be recognized by investors since the stock has delivered a 1.6% gain to shareholders who've held over the last three years. Therefore we'd recommend looking further into this stock to confirm if it has the makings of a good investment.
总的来说,尽管短期回报较低,我们仍然看好锐明技术为增长而进行再投资,并因此拥有更高的收入。这些趋势正在被投资者所认可,因为股票在过去三年中为持股人带来了1.6%的收益。因此,我们建议进一步研究该股票,以确定其是否有良好的投资价值。
Like most companies, Streamax Technology does come with some risks, and we've found 1 warning sign that you should be aware of.
与大多数公司一样,锐明技术也存在风险,我们发现了1个警告信号,您应该注意。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group确实存在一些风险,我们已经发现了一条警示标志,你可能会感兴趣。对于那些喜欢投资于实力雄厚的公司的人,可以查看这个由财务状况强大、股本回报率高的公司组成的免费列表。
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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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。