Slowing Rates Of Return At Ningxia Western Venture IndustrialLtd (SZSE:000557) Leave Little Room For Excitement
Slowing Rates Of Return At Ningxia Western Venture IndustrialLtd (SZSE:000557) Leave Little Room For Excitement
There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. In light of that, when we looked at Ningxia Western Venture IndustrialLtd (SZSE:000557) and its ROCE trend, we weren't exactly thrilled.
如果我们想识别下一个多倍收益者,则需要关注几个关键趋势。理想情况下,一家企业将展示两种趋势;首先,资本雇用回报率(ROCE)不断增长;其次,所雇用的资本不断增加。简单地说,这些类型的企业是复合机器,这意味着它们在以越来越高的收益率不断重新投资其盈利。考虑到这一点,当我们看宁夏西部创业投资产业股份有限公司(SZSE: 000557)和其ROCE趋势时,我们并不是特别满意。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
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 Ningxia Western Venture IndustrialLtd:
仅供澄清,如果您不确定,ROCE是衡量公司在其业务中投资的资本所获得的税前收入(以百分比计算)的度量标准。分析师使用这个公式为宁夏西部创业投资产业股份有限公司计算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。
0.043 = CN¥256m ÷ (CN¥6.3b - CN¥359m) (Based on the trailing twelve months to March 2024).
0.043 = CN¥25600万 ÷ (CN¥63亿 - CN¥359m)(基于2024年3月的过去十二个月)。
Therefore, Ningxia Western Venture IndustrialLtd has an ROCE of 4.3%. Even though it's in line with the industry average of 4.3%, it's still a low return by itself.
因此,宁夏西部创业投资产业股份有限公司的ROCE为4.3%。尽管它符合行业平均水平,但仍然是一种低回报。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-143af45822badd56f141183ccbffe677-0-570eadea0e718c7e1b1acfc9a0299676.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Ningxia Western Venture IndustrialLtd's ROCE against it's prior returns. If you're interested in investigating Ningxia Western Venture IndustrialLtd's past further, check out this free graph covering Ningxia Western Venture IndustrialLtd's past earnings, revenue and cash flow.
历史表现是研究股票的绝佳起点,因此您可以看到宁夏西部创业投资产业股份有限公司的ROCE与其先前收益的比较。如果您有兴趣进一步调查宁夏西部创业投资产业股份有限公司的过去,请查看此免费图表,涵盖了宁夏西部创业投资产业股份有限公司的过去收益,营业收入和现金流量。
So How Is Ningxia Western Venture IndustrialLtd's ROCE Trending?
那么宁夏西部创业投资产业股份有限公司的ROCE趋势如何?
Things have been pretty stable at Ningxia Western Venture IndustrialLtd, with its capital employed and returns on that capital staying somewhat the same for the last five years. This tells us the company isn't reinvesting in itself, so it's plausible that it's past the growth phase. With that in mind, unless investment picks up again in the future, we wouldn't expect Ningxia Western Venture IndustrialLtd to be a multi-bagger going forward.
宁夏西部创业投资产业股份有限公司的情况一直比较稳定,其所雇用的资本和资本回报保持基本一致,持续了近五年。这告诉我们该公司没有对自身进行再投资,因此,除非未来的投资再次增加,我们不希望宁夏西部创业投资产业股份有限公司成为未来的多倍收益者。
What We Can Learn From Ningxia Western Venture IndustrialLtd's ROCE
我们可以从宁夏西部创业投资产业股份有限公司的ROCE中学到什么?
In summary, Ningxia Western Venture IndustrialLtd isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And with the stock having returned a mere 19% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
总之,宁夏西部创业投资产业股份有限公司没有复合其收益,但正在对同等额的资本雇用产生稳定的回报。但该股票在过去五年中仅为股东带来了19%的回报,这意味着他们已意识到这些乏味的趋势。因此,如果您正在寻找多倍收益者,底层趋势表明您可能在其他地方有更好的机会。
While Ningxia Western Venture IndustrialLtd doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation for 000557 on our platform.
虽然宁夏西部创业投资产业股份有限公司在这方面并不是非常出色,但查看该公司是否以有吸引力的价格交易仍然值得一看。您可以在我们的平台上找到000557的免费内在价值估算。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果您想寻找财务状况良好、回报卓越的实力强企业,可以免费查看以下公司列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。