Shaanxi Sirui Advanced Materials (SHSE:688102) Has More To Do To Multiply In Value Going Forward
Shaanxi Sirui Advanced Materials (SHSE:688102) Has More To Do To Multiply In Value Going Forward
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Shaanxi Sirui Advanced Materials (SHSE:688102) and its ROCE trend, we weren't exactly thrilled.
在长期内,有哪些早期趋势可以用来发现一只可能会翻倍增值的股票?一个常见的方法是寻找回报资本使用率(ROCE)增长的公司,同时资本使用量也在增加。这最终表明这是一个以逐渐增加的回报率重新投资利润的业务。考虑到这一点,当我们研究陕西思瑞先进材料有限公司(SHSE:688102)及其ROCE趋势时,我们并不是非常满意。
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。
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 Shaanxi Sirui Advanced Materials, this is the formula:
对于那些不确定ROCE是什么的人来说,它衡量了一家公司能够从其业务中使用的资本创造的税前利润的金额。为了计算陕西思瑞先进材料有限公司的ROCE,以下是公式:
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。
0.087 = CN¥126m ÷ (CN¥1.9b - CN¥463m) (Based on the trailing twelve months to June 2024).
0.087 = CN¥12600万 ÷ (CN¥19亿 - CN¥463百万)(基于截至2024年6月的最近十二个月)。
Thus, Shaanxi Sirui Advanced Materials has an ROCE of 8.7%. On its own that's a low return, but compared to the average of 6.8% generated by the Metals and Mining industry, it's much better.
因此,陕西思瑞先进材料有限公司的ROCE为8.7%。单独看,这是一个较低的回报率,但与金属和矿业行业平均6.8%的回报相比,这要好得多。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240821/0-f096649794c2eefae44ea2a47571cbe1-0-b632fbd6036db765a5ee7b5c83c23f98.png/big)
In the above chart we have measured Shaanxi Sirui Advanced Materials' prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Shaanxi Sirui Advanced Materials .
在上图中,我们已经测量了陕西思睿爱文材料的前ROCE与其先前表现相比,但未来可能更重要。如果您感兴趣,您可以查看我们免费的陕西思睿爱文材料分析师报告中的预测。
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。
The returns on capital haven't changed much for Shaanxi Sirui Advanced Materials in recent years. The company has consistently earned 8.7% for the last five years, and the capital employed within the business has risen 253% in that time. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
近年来,陕西思睿爱文材料的资本回报率并没有发生太大变化。公司在过去五年里一直赚取8.7%的回报率,在同一时期内业务中使用的资本增长了253%。鉴于公司增加了使用的资本量,看起来已经投资的项目并没有带来高回报率。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 24% of total assets, is good to see from a business owner's perspective. This can eliminate some of the risks inherent in the operations because the business has less outstanding obligations to their suppliers and or short-term creditors than they did previously.
还有一件事需要注意,尽管过去五年来ROCE保持相对稳定,但目前负债占总资产的比例下降至24%,从业主的角度看是好事。这可以减少经营中固有风险的一部分,因为公司与供应商或短期债权人的未清偿义务比以往少。
Our Take On Shaanxi Sirui Advanced Materials' ROCE
我们对陕西思睿爱文材料的ROCE看法
In summary, Shaanxi Sirui Advanced Materials has simply been reinvesting capital and generating the same low rate of return as before. And in the last year, the stock has given away 15% so the market doesn't look too hopeful on these trends strengthening any time soon. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总而言之,陕西思睿爱文材料简单地在重新投资资本,产生与以前相同的低回报率。并且在过去一年,股票已经下跌了15%,因此市场对这些趋势很快增强并不抱太大希望。无论如何,该股票都没有上面讨论的暴涨特征,因此如果您在寻找这样的股票,我们认为您在其他地方会更有好运。
If you want to continue researching Shaanxi Sirui Advanced Materials, you might be interested to know about the 3 warning signs that our analysis has discovered.
如果您想继续研究陕西世瑞爱文思材料股份有限公司,您可能会对我们分析发现的3个警告迹象感兴趣。
While Shaanxi Sirui Advanced Materials isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然陕西世瑞爱文思材料股份有限公司的回报不是最高的,但请查看这份免费的公司名单,这些公司在权益方面获得高回报,并拥有扎实的资产负债表。
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