Be Wary Of Nanjing Hanrui CobaltLtd (SZSE:300618) And Its Returns On Capital
Be Wary Of Nanjing Hanrui CobaltLtd (SZSE:300618) And Its Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. Although, when we looked at Nanjing Hanrui CobaltLtd (SZSE:300618), it didn't seem to tick all of these boxes.
找到一个有潜力大幅增长的企业并不容易,但如果我们看一下几个关键的财务指标是可能的。理想情况下,一个企业将展示两个趋势;首先是不断增长的资本运营回报率(ROCE),其次是越来越多的资本运营额。基本上,这意味着一个公司有可盈利的举措可以继续投资,这是一个复利机器的特点。虽然,当我们看到南京汉瑞钴业有限公司(SZSE:300618)时,并没有完全符合这些要求。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Nanjing Hanrui CobaltLtd is:
只为澄清,如果您对此不确定,ROCE是一个评估公司在业务投资的资本上赚取多少税前收入(以百分比表示)的指标。南京汉瑞钴业有限公司的计算公式是:
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。
0.057 = CN¥326m ÷ (CN¥8.7b - CN¥3.0b) (Based on the trailing twelve months to June 2024).
0.057 = CN¥32600万 ÷ (CN¥87亿 - CN¥3.0b)(基于截至2024年6月的过去十二个月)。
Thus, Nanjing Hanrui CobaltLtd has an ROCE of 5.7%. On its own, that's a low figure but it's around the 7.1% average generated by the Metals and Mining industry.
因此,南京汉瑞钴业有限公司的ROCE为5.7%。单独来看,这个数字很低,但它接近金属和矿业行业平均7.1%的水平。
![1724883691738](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240829/43032352-0-bbdeb13bece49aa5a8f805891c079720.webp/bigjpg)
In the above chart we have measured Nanjing Hanrui CobaltLtd's 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 Nanjing Hanrui CobaltLtd .
在上图中,我们对南京瀚锐钴业有限公司的历史ROCE进行了评估,但未来可能更加重要。如果您有兴趣,可以在我们免费的南京瀚锐钴业有限公司分析师报告中查看分析师的预测。
So How Is Nanjing Hanrui CobaltLtd's ROCE Trending?
那么南京汉瑞钴业的ROCE走势如何?
When we looked at the ROCE trend at Nanjing Hanrui CobaltLtd, we didn't gain much confidence. To be more specific, ROCE has fallen from 7.9% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.
当我们观察南京瀚锐钴业有限公司的ROCE趋势时,并没有增加多少信心。具体来说,ROCE在过去五年中下降了7.9%。另一方面,公司在过去一年中投入了更多资本,但销售额没有相应提升,这可能意味着这些投资是长期的。公司可能需要一些时间才能从这些投资中看到盈利变化。
The Bottom Line
还有一件事需要注意的是,我们已经确定了上海医药的2个警告信号,了解这些信号应该成为你的投资过程的一部分。
To conclude, we've found that Nanjing Hanrui CobaltLtd is reinvesting in the business, but returns have been falling. Since the stock has declined 63% over the last five years, investors may not be too optimistic on this trend improving either. 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.
总之,我们发现南京瀚锐钴业有限公司正在对业务进行再投资,但回报率正在下降。由于过去五年该股下跌了63%,投资者对这一趋势的改善可能并不太乐观。无论如何,该股票没有上述所讨论的多倍股的特征,所以如果这是您想要的,我们认为您在其他地方会更有好运。
If you'd like to know about the risks facing Nanjing Hanrui CobaltLtd, we've discovered 1 warning sign that you should be aware of.
如果您想了解南京瀚锐钴业有限公司面临的风险,我们发现了1个警示信号,您应该注意。
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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