Why You Should Care About Shenzhen Transsion Holdings' (SHSE:688036) Strong Returns On Capital
Why You Should Care About Shenzhen Transsion Holdings' (SHSE:688036) Strong Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So, when we ran our eye over Shenzhen Transsion Holdings' (SHSE:688036) trend of ROCE, we really liked what we saw.
如果我们想找到一只能在长期内成倍增长的股票,我们应该关注哪些潜在趋势?其中,我们希望看到以下两点:首先,资本运作回报率(ROCE)不断增长;其次,公司资本运作规模扩大。这说明该公司是一个复利机器,能够不断将收益重新投资到业务中并获得更高的回报。因此,当我们审视深圳市传音控股有限公司(SHSE:688036)的ROCE趋势时,我们真的很喜欢我们看到的情况。
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。
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 Shenzhen Transsion Holdings:
如果您以前没有使用过ROCE,它衡量的是公司在业务中所使用的资本所产生的"回报"(税前利润)。分析师使用这个公式来为深圳市传音控股有限公司计算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。
0.31 = CN¥7.4b ÷ (CN¥48b - CN¥24b) (Based on the trailing twelve months to March 2024).
0.31 = CN¥74亿 ÷ (CN¥480亿 - CN¥24亿) (基于2024年3月的过去十二个月)。
Thus, Shenzhen Transsion Holdings has an ROCE of 31%. In absolute terms that's a great return and it's even better than the Tech industry average of 5.4%.
因此,深圳市传音控股有限公司的ROCE为31%。绝对来说,这是一个很好的回报,甚至比技术行业平均水平5.4%还要好。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240820/0-33e78a49d4ca3ce26127a3ca5b18fc2f-0-2e8bc61fc063d7e2cb53a07d5d503e39.png/big)
In the above chart we have measured Shenzhen Transsion Holdings' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Shenzhen Transsion Holdings .
在上面的图表中,我们已经测量了深圳世纪华通控股有限公司以往的ROCE与以前的业绩,但未来可能更重要。如果您想了解分析师对未来的预测,请查看我们针对深圳世纪华通控股有限公司的免费分析师报告。
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。
It's hard not to be impressed by Shenzhen Transsion Holdings' returns on capital. The company has consistently earned 31% for the last five years, and the capital employed within the business has risen 290% in that time. With returns that high, it's great that the business can continually reinvest its money at such appealing rates of return. If Shenzhen Transsion Holdings can keep this up, we'd be very optimistic about its future.
深圳世纪华通控股有限公司的资本回报率令人印象深刻。过去五年,该公司的收益一直稳定在31%,业务中使用的资本在此期间增加了290%。收益如此之高,很高兴业务可以持续以如此吸引人的回报率不断投资。如果深圳世纪华通控股有限公司能够继续保持这一势头,我们对其未来会非常乐观。
On a separate but related note, it's important to know that Shenzhen Transsion Holdings has a current liabilities to total assets ratio of 49%, which we'd consider pretty high. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另外需要注意的是,深圳世纪华通控股有限公司的流动负债占总资产比率为49%,我们认为这相当高。这意味着供应商(或短期债权人)资助了业务的大部分资金,因此务必意识到这可能引入一些风险。理想情况下,我们希望看到这一比率降低,因为那意味着承载风险的义务更少。
Our Take On Shenzhen Transsion Holdings' ROCE
我们对深圳世纪华通控股有限公司的ROCE看法
In short, we'd argue Shenzhen Transsion Holdings has the makings of a multi-bagger since its been able to compound its capital at very profitable rates of return. However, despite the favorable fundamentals, the stock has fallen 31% over the last three years, so there might be an opportunity here for astute investors. For that reason, savvy investors might want to look further into this company in case it's a prime investment.
简言之,我们认为深圳世纪华通控股有限公司拥有成为复利资本非常有利可图的潜质。然而,尽管基本面良好,股票在过去三年下跌了31%,因此聪明的投资者可能会找到机会。因此,明智的投资者可能会进一步研究该公司,以确定是否是一个主要投资对象。
Like most companies, Shenzhen Transsion Holdings does come with some risks, and we've found 1 warning sign that you should be aware of.
和其他大多数公司一样,深圳传音控股存在一些风险,我们找到了一个警示信号,你应该注意。
Shenzhen Transsion Holdings 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.
深圳传音控股并不是唯一一家收益高的股票。如果你想看到更多,请查看我们的免费公司收益高、基本面良好的列表。
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