Jiangsu King's Luck Brewery Ltd (SHSE:603369) Could Become A Multi-Bagger
Jiangsu King's Luck Brewery Ltd (SHSE:603369) Could Become A Multi-Bagger
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. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, the ROCE of Jiangsu King's Luck Brewery Ltd (SHSE:603369) looks great, so lets see what the trend can tell us.
如果你不确定在寻找下一个翻倍股时该从哪里开始，请留意几个关键趋势。理想情况下，一家企业将展示两种趋势;首先是资本雇用回报(ROCE)不断增长，其次是资本雇用数量不断增加。基本上，这意味着公司有盈利的倡议，可以继续重新投资，这是复合机器的特征。考虑到这一点，江苏金鹿啤酒股份有限公司的ROCE看起来很好，让我们看看趋势能告诉我们什么。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Jiangsu King's Luck Brewery Ltd:
为了澄清，如果您不确定，ROCE是一种评估企业在其业务中投资的资本获得多少(以百分比计算)的指标。分析师使用这个公式来计算江苏金鹿啤酒股份有限公司的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。
0.28 = CN¥4.2b ÷ (CN¥22b - CN¥7.4b) (Based on the trailing twelve months to March 2024).
0.28 = CN¥42亿 ÷ (CN¥220亿 - CN¥7.4b)（基于最近12个月至2024年3月）。
Thus, Jiangsu King's Luck Brewery Ltd has an ROCE of 28%. In absolute terms that's a great return and it's even better than the Beverage industry average of 17%.
因此，江苏金鹿啤酒股份有限公司的ROCE为28%。从绝对意义上来看，这是一个很好的回报，甚至比饮料行业的17%还要好。
Above you can see how the current ROCE for Jiangsu King's Luck Brewery Ltd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Jiangsu King's Luck Brewery Ltd .
上面你可以看到江苏金鹿啤酒股份有限公司目前的ROCE与其过去的资本回报率相比如何，但从过去只能得出那么多信息。如果您有兴趣，您可以查看我们免费分析师报告中分析师的预测结果。
What The Trend Of ROCE Can Tell Us
尽管如此，当我们看 enphase energy (纳斯达克股票代码：ENPH) 的时候，它似乎并没有完全符合这些要求。
Jiangsu King's Luck Brewery Ltd is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 28%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 122%. So we're very much inspired by what we're seeing at Jiangsu King's Luck Brewery Ltd thanks to its ability to profitably reinvest capital.
江苏金鹿啤酒股份有限公司展示了一些积极的趋势。在过去五年中，资本雇用回报率已经大幅提高至28%。该公司有效地利用每一美元的资本赚取更多的钱，值得注意的是，资本的数量也增加了122%。因此，我们非常欣赏江苏金鹿啤酒股份有限公司能够有能力可利用盈利重投资本。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 33% of its operations, which isn't ideal. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
顺便说一下，我们注意到ROCE的改善似乎部分受到流动负债的增加推动。实质上，业务现在有供应商或短期债权人资助其运营的约33%，这并不理想。有必要留意这一点，因为随着流动负债占总资产的比例增加，风险的某些方面也会增加。
The Key Takeaway
重要提示
In summary, it's great to see that Jiangsu King's Luck Brewery Ltd can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 88% return over the last five years. Therefore, we think it would be worth your time to check if these trends are going to continue.
总之，很高兴看到江苏金鹿啤酒股份有限公司可以通过以增加的回报率不断重新投资资本来复合回报，因为这些是那些备受追捧的多重利润组合的关键因素之一。而且投资者似乎希望这种趋势将持续，因为过去五年股票回报了88%。因此，我们认为检查这些趋势是否会继续，是值得您投资时间的。
One more thing: We've identified 2 warning signs with Jiangsu King's Luck Brewery Ltd (at least 1 which is concerning) , and understanding them would certainly be useful.
还有一件事:我们已经确认江苏金鹿啤酒股份有限公司存在2个警告信号(至少有1个令人担忧),了解它们肯定很有用。
Jiangsu King's Luck Brewery Ltd is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
江苏金鹿啤酒股份有限公司并不是唯一可以获得高回报的股票。如果您想查看更多信息，请查看我们免费的股票回报率和稳健基本面的公司列表。
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