Investors Could Be Concerned With WH Group's (HKG:288) Returns On Capital
Investors Could Be Concerned With WH Group's (HKG:288) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at WH Group (HKG:288), it didn't seem to tick all of these boxes.
了解哪些财务指标可以提供潜在多倍股的线索了吗? 其中,我们想看到两个方面:首先是不断增长的资本雇用回报率(ROCE),其次是公司资本雇用金额的扩张。最终,这表明该公司正在以不断增加的回报率重新投资利润。尽管我们看WH Group(HKG:288)时似乎没有完全满足这些要求。
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 that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for WH Group, this is the formula:
如果您不确定什么是ROCE,它衡量公司在其业务中使用的资本雇用可以产生多少税前利润。要为WH Group计算此指标,使用以下公式:
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。
0.041 = US$589m ÷ (US$19b - US$4.7b) (Based on the trailing twelve months to December 2023).
0.041 = US$58900万 ÷(US$190亿 - US$4.7亿)(基于截至2023年12月的过去十二个月)。
So, WH Group has an ROCE of 4.1%. In absolute terms, that's a low return and it also under-performs the Food industry average of 8.6%.
因此,WH Group的ROCE为4.1%。从绝对值来看,这是较低的回报率,也低于食品行业的平均值8.6%。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240730/0-aed6e650d9d827e6d7ed958e579a6f72-0-3806306b898eecbad0d8c6ed9cd4b482.png/big)
Above you can see how the current ROCE for WH Group 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 WH Group .
在上面,您可以看到WH Group的当前ROCE与其先前资本回报相比如何,但是您可以从过去的经验中了解多少。如果您感兴趣,您可以在我们为WH Group提供的免费分析师报告中查看分析师的预测。
What Does the ROCE Trend For WH Group Tell Us?
WH Group的ROCE趋势告诉我们什么?
In terms of WH Group's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 4.1% from 11% five years ago. However it looks like WH Group might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
就WH Group的历史ROCE变动而言,趋势并不理想。过去五年中,资本回报率从五年前的11%下降至4.1%。然而,看起来WH Group可能正在重新投资以实现长期增长,因为尽管资本雇用增加了,但公司的销售额在过去12个月中并没有太大变化。公司从这些投资中看到任何收益变化可能需要一些时间。
The Key Takeaway
重要提示
In summary, WH Group is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Unsurprisingly then, the total return to shareholders over the last five years has been flat. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
总之,WH Group正在将资金重新投资到业务中以实现增长,但不幸的是,销售额似乎尚未显著增长。毫不奇怪,过去五年股东的总回报率基本持平。总体来说,我们对潜在多倍股的趋势不太感兴趣,并认为可能会在其他地方找到更好的机会。
One more thing, we've spotted 3 warning signs facing WH Group that you might find interesting.
还有一件事,我们发现WH Group面临3个警告信号可能会很有趣。
While WH Group 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.
虽然WH Group目前可能无法获得最高回报,但我们已编写了一张当前获得超过25%股本回报率的公司列表。在这里查看免费列表。
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。