The Return Trends At Roshow Technology (SZSE:002617) Look Promising
The Return Trends At Roshow Technology (SZSE:002617) Look Promising
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding 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. So on that note, Roshow Technology (SZSE:002617) looks quite promising in regards to its trends of return on capital.
您知道有些财务指标可以提供潜在的多倍收益线索吗?首先,我们希望看到资本回报率(ROCE)已得到证明且在增加,其次,资本投入基础在不断扩大。基本上这意味着一个公司具有盈利的计划,可以继续投资,这是复合机器的特性。因此,露笑科技 (SZSE:002617) 的资本回报率趋势看起来非常有前途。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Roshow Technology is:
如果您之前没有使用 ROCE,它衡量一家公司从其业务中使用的资本所获得的"回报"(税前利润)。从公式计算露笑科技的情况来看:
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。
0.036 = CN¥293m ÷ (CN¥10b - CN¥2.2b) (Based on the trailing twelve months to March 2024).
0.036 = CN¥29300万÷(CN¥100亿-CN¥2.2b)(截至2024年3月的过去12个月)。
Therefore, Roshow Technology has an ROCE of 3.6%. Ultimately, that's a low return and it under-performs the Electrical industry average of 6.0%.
因此,露笑科技的资本回报率为3.6%。这是一个低回报率,并且表现不及电气行业平均水平(6.0%)。
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While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Roshow Technology has performed in the past in other metrics, you can view this free graph of Roshow Technology's past earnings, revenue and cash flow.
尽管过去的表现不能代表未来,但了解一家公司的历史表现可能很有帮助,这就是为什么我们展示了上面的图表。如果您想查看露笑科技在其他指标方面的过去表现,您可以查看露笑科技过去收益、营业收入和现金流量的免费图表。
What Does the ROCE Trend For Roshow Technology Tell Us?
露笑科技的资本回报率趋势告诉我们什么?
We're delighted to see that Roshow Technology is reaping rewards from its investments and is now generating some pre-tax profits. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 3.6% on its capital. In addition to that, Roshow Technology is employing 304% more capital than previously which is expected of a company that's trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
我们很高兴看到露笑科技从其投资中获得回报并获得一些税前利润。股东无疑会对此感到满意,因为该公司在五年前曾亏损,但现在已将资本回报率提高至3.6%。除此之外,露笑科技比先前更加注重资本的使用,这是一家试图实现盈利的公司所期望的。这可能表明存在大量的机会可以在公司内部投资,同时以更高的利率投资,这是复合机器的共同特征。
One more thing to note, Roshow Technology has decreased current liabilities to 21% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books.
值得注意的另一点是,露笑科技将流动负债降至总资产的21%,有效减少了来自供应商或短期债权人的融资。因此,我们可以放心地认为资本回报率的增长是业务基本改善的结果,而不是该公司账簿的虚假帐。
The Bottom Line On Roshow Technology's ROCE
关于露笑科技的ROCE,我们要告诉你什么?
In summary, it's great to see that Roshow Technology has managed to break into profitability and is continuing to reinvest in its business. Since the total return from the stock has been almost flat over the last five years, there might be an opportunity here if the valuation looks good. With that in mind, we believe the promising trends warrant this stock for further investigation.
总之,露笑科技已经成功地实现了盈利并继续投资于其业务。由于该股票的总回报在过去五年中几乎没有变化,如果其评估具备良好的估值,可能存在机会。考虑到这一点,我们认为这个有前途的趋势值得进一步调查。
Before jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation for 002617 that compares the share price and estimated value.
然而,在得出任何结论之前,我们需要知道当前股价的价值。这就是您可以查看我们免费的002617内在价值估算的原因,该估值比较了股价和估算价值。
While Roshow Technology isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然露笑科技的回报率不是最高的,但请看这个免费的公司列表,这些公司在资产负债表上赚取了高回报率。
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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。