Want Want China Holdings (HKG:151) Could Become A Multi-Bagger
Want Want China Holdings (HKG:151) Could Become A Multi-Bagger
There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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. Speaking of which, we noticed some great changes in Want Want China Holdings' (HKG:151) returns on capital, so let's have a look.
如果我们想找到下一个开多大赚家，就需要关注一些关键趋势。首先，我们要找到一个不断增长的资本使用回报率（ROCE），同时还要有一个不断增长的资本使用基础。基本上，这意味着公司有盈利的举措可以继续投资，这是利复利的特征。说到这里，我们发现了一些中国旺旺控股（HKG:151）资本回报的巨大变化，让我们看看吧。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法：正如我们上面看到的，Enphase Energy 的资本回报率没有提高，但它正在重新投资于业务。投资者必须认为未来会有更好的前景，因为股票表现良好，使持股五年以上的股东获得了 690% 的收益。最终，如果基本趋势持续存在，我们不会对它成为一只多头股持有期很久很有信心。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Want Want China Holdings:
如果你以前没有接触过ROCE，它是衡量公司从业务资本使用所获得的“回报”（税前利润）的指标。分析师使用这个公式来计算中国旺旺的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。
0.27 = CN¥5.2b ÷ (CN¥27b - CN¥8.2b) (Based on the trailing twelve months to March 2024).
0.27 = CN¥52亿 ÷ (CN¥270亿 - CN¥8.2b) （基于截至2024年3月的过去十二个月）。因此，中国旺旺的ROCE为27%。绝对来说，这是一个非常好的回报，甚至比食品行业平均水平高8.6%。
Therefore, Want Want China Holdings has an ROCE of 27%. In absolute terms that's a great return and it's even better than the Food industry average of 8.6%.
SEHK:151 资本使用回报 2024年7月30日 在上面的图表中，我们以中国旺旺以往的ROCE为基础来衡量其以前的表现，但未来可能更为重要。如果你愿意，可以免费查看报告分析师对中国旺旺的预测。
In the above chart we have measured Want Want China Holdings' 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 Want Want China Holdings for free.
以上图表中，我们已经对中国旺旺过去的ROCE进行了测量，但未来可能更为重要。如果你愿意，可以免费查看报告分析师对中国旺旺的预测。
The Trend Of ROCE
当寻找下一个倍增器时，如果您不确定从哪里开始，请关注几个关键趋势。首先，我们希望看到一个经过验证的资本使用率。如果您看到这一点，通常意味着这是一家拥有出色业务模式和大量盈利再投资机会的公司。然而，调查蒙托克可再生能源公司（NASDAQ：MNTK）后，我们认为它的现行趋势不符合倍增器的模式。
Want Want China Holdings is showing promise given that its ROCE is trending up and to the right. The figures show that over the last five years, ROCE has grown 42% whilst employing roughly the same amount of capital. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
中国旺旺控股有望成为一个趋势，因为其ROCE呈上升趋势。数据显示，在过去五年中，ROCE增长了42%，资本几乎相同。基本上，公司从相同的资本中获得更高的回报，这证明了公司效率的提高。从这个意义上说，公司表现不错，值得研究管理团队为长期增长前景计划了什么。
Our Take On Want Want China Holdings' ROCE
我们对中国旺旺控股的资本使用回报的看法 如上所述，中国旺旺控股似乎越来越擅长创造回报，因为资本使用量保持不变，但收益（利息和税前利润）增加了。并且，考虑到过去五年，该股票价格相当稳定，如果其他指标强劲，这里可能存在机会。因此，进一步研究这家公司，确定这些趋势是否会持续是有道理的。
As discussed above, Want Want China Holdings appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. And given the stock has remained rather flat over the last five years, there might be an opportunity here if other metrics are strong. So researching this company further and determining whether or not these trends will continue seems justified.
如果你想继续研究中国旺旺控股，你可能会对我们分析发现的一项警告有所关注。
If you want to continue researching Want Want China Holdings, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果我们想找到下一个开多大赚家，就需要关注一些关键趋势。首先，我们要找到一个不断增长的资本使用回报率（ROCE），同时还要有一个不断增长的资本使用基础。基本上，这意味着公司有盈利的举措可以继续投资，这是利复利的特征。说到这里，我们发现了一些中国旺旺控股（HKG:151）资本回报的巨大变化，让我们看看吧。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司获得高回报，请在此查看我们免费的高回报、坚实财务状况的公司列表。
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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。