Zhongshan Broad-Ocean Motor's (SZSE:002249) Returns On Capital Are Heading Higher
Zhongshan Broad-Ocean Motor's (SZSE:002249) Returns On Capital Are Heading Higher
If you're looking for a multi-bagger, there's a few things to keep an eye out 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. 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 Zhongshan Broad-Ocean Motor's (SZSE:002249) returns on capital, so let's have a look.
如果你正在寻找一个潜力巨大的股票,有一些事情是需要关注的。在其他事情中,我们会想要看到两件事情;首先,资本使用回报率(ROCE)的增长,其次,公司资本使用量的扩张。基本上这意味着公司有利润的举措可以继续进行再投资,这是一个复利机器的特征。说到这一点,我们注意到了中山大洋电机(SZSE:002249)的资本回报率有一些很好的变化,所以让我们来看看。
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. Analysts use this formula to calculate it for Zhongshan Broad-Ocean Motor:
对于那些不确定ROCE是什么的人,它衡量的是公司可以从经营中使用的资本所产生的税前利润的数量。分析师使用这个公式来计算中山大洋电机的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。
0.063 = CN¥627m ÷ (CN¥17b - CN¥6.8b) (Based on the trailing twelve months to March 2024).
0.063 = 62700万人民币 ÷ (170亿人民币 - 6.8亿人民币)(基于2024年3月的过去十二个月)。
Therefore, Zhongshan Broad-Ocean Motor has an ROCE of 6.3%. Even though it's in line with the industry average of 6.0%, it's still a low return by itself.
因此,中山大洋电机的ROCE为6.3%。尽管它与行业平均值6.0%相符,但它本身的回报率仍然偏低。
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Historical performance is a great place to start when researching a stock so above you can see the gauge for Zhongshan Broad-Ocean Motor's ROCE against it's prior returns. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Zhongshan Broad-Ocean Motor.
历史业绩是研究股票的好起点,所以您可以在上面看到中山大洋电机ROCE指标与其过去回报的对比。如果您想深入了解历史收益,请查看这些免费图表,详细描述中山大洋电机的营业收入和现金流表现。
What Can We Tell From Zhongshan Broad-Ocean Motor's ROCE Trend?
我们从中山大洋电机的ROCE趋势中能得到什么信息?
We're delighted to see that Zhongshan Broad-Ocean Motor is reaping rewards from its investments and has now broken into profitability. The company now earns 6.3% on its capital, because five years ago it was incurring losses. While returns have increased, the amount of capital employed by Zhongshan Broad-Ocean Motor has remained flat over the period. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. After all, a company can only become a long term multi-bagger if it continually reinvests in itself at high rates of return.
我们很高兴看到中山大洋电机正在从其投资中获得回报,并且现在已经盈利。该公司的资本回报率为6.3%,因为五年前该公司一直在亏损。虽然回报率有所增加,但中山大洋电机所使用的资本量在这段时间内保持平稳。话虽如此,虽然效率提高无疑很吸引人,但了解一下公司是否有任何投资计划会很有帮助。毕竟,只有在高回报率下不断对自身进行再投资,公司才能成为长期的多倍增长者。
On a side note, Zhongshan Broad-Ocean Motor's current liabilities are still rather high at 40% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
顺便说一下,中山大洋电机的流动负债占总资产的40%,仍然相当高。这可能带来一些风险,因为该公司基本上是依赖其供应商或其他形式的短期债权人进行运营的。虽然这不一定是坏事,但如果这个比例较低会更有益。
Our Take On Zhongshan Broad-Ocean Motor's ROCE
我们对中山大洋电机的ROCE的看法
In summary, we're delighted to see that Zhongshan Broad-Ocean Motor has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 22% to shareholders. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
总之,我们很高兴看到中山大洋电机能够在相同的资本量上提高效率并获得更高的回报率。投资者可能对这些积极趋势还不满意,因为在过去五年里,该股票只给股东带来了22%的回报。鉴于这一点,我们会进一步研究这支股票,以确定它是否具有更多可能在长期内倍增的特征。
If you want to continue researching Zhongshan Broad-Ocean Motor, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想继续研究大洋电机,您可能对我们的分析发现的1个警示信号感兴趣。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group确实存在一些风险,我们已经发现了一条警示标志,你可能会感兴趣。对于那些喜欢投资于实力雄厚的公司的人,可以查看这个由财务状况强大、股本回报率高的公司组成的免费列表。
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