Hisense Visual Technology (SHSE:600060) Is Looking To Continue Growing Its Returns On Capital
Hisense Visual Technology (SHSE:600060) Is Looking To Continue Growing Its Returns On Capital
What trends should we look for it we want to identify stocks that can 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at Hisense Visual Technology (SHSE:600060) so let's look a bit deeper.
如果我们想要识别长期价值翻倍的股票,我们应该关注哪些趋势?一个常见的方法是尝试找到一个资本雇用回报率(ROCE)和使用资本的增长数量都在增加的公司。基本上,这意味着公司有盈利的业务,可以继续投资,这是一个复利机器的特征。考虑到这一点,我们注意到海信视像(SHSE:600060)有一些有前途的趋势,所以让我们深入了解一下。
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 Hisense Visual Technology:
对于那些不确定ROCE是什么的人,它衡量的是公司可以从其业务中使用的资本产生的税前利润数量。分析师使用这个公式来计算海信视像的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。
0.076 = CN¥1.9b ÷ (CN¥42b - CN¥17b) (Based on the trailing twelve months to June 2024).
0.076 = 1900000000人民币 ÷ (42000000000人民币 - 17000000000人民币)(基于截至2024年6月的过去十二个月)。
Therefore, Hisense Visual Technology has an ROCE of 7.6%. In absolute terms, that's a low return but it's around the Consumer Durables industry average of 9.2%.
因此,海信视像的ROCE为7.6%。绝对来说,这是一个较低的回报,但大约是耐用消费品行业平均水平9.2%。
![1725154079208](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240901/43152718-0-582136a27958130d1878701ddde0e2b3.webp/bigjpg)
Above you can see how the current ROCE for Hisense Visual Technology compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Hisense Visual Technology .
如上图所示,海信视像技术目前的ROCE与其以前的资本回报相比,但过去的表现只能告诉我们有限的信息。如果您有兴趣,您可以查看我们对海信视像技术的免费分析师报告中的分析师预测。
So How Is Hisense Visual Technology's ROCE Trending?
那么,海信视像技术的ROCE趋势如何?
We're delighted to see that Hisense Visual 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 7.6% on its capital. Not only that, but the company is utilizing 46% more capital than before, but that's to be expected from a company 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.
我们很高兴看到海信视像技术从其投资中获得回报,并且现在正在产生一些税前利润。股东无疑会对此感到满意,因为五年前这家企业还在亏损,但现在对其资本回报率达到了7.6%。不仅如此,该公司比以前利用的资本增加了46%,但这是可以预料的,因为该公司试图实现盈利。这可能表明公司内部有许多投资资本的机会,而且利率也越来越高,这是成倍增长的常见特点。
Another thing to note, Hisense Visual Technology has a high ratio of current liabilities to total assets of 40%. 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,海信视像技术的流动负债占总资产的比率高达40%。这实际上意味着供应商(或短期债权人)为企业提供了大部分资金,因此请注意这可能会引入一些风险。理想情况下,我们希望看到这一比率下降,因为这意味着承担风险的义务较少。
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。
Overall, Hisense Visual Technology gets a big tick from us thanks in most part to the fact that it is now profitable and is reinvesting in its business. And a remarkable 119% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.
总的来说,海信视像技术在很大程度上得到了肯定,因为它现在盈利,并且在业务上进行了再投资。过去五年的总回报率达到了惊人的119%,这告诉我们投资者对未来有更多好事情的期待。因此,我们认为您应该花时间了解这些趋势是否会持续。
If you'd like to know about the risks facing Hisense Visual Technology, we've discovered 1 warning sign that you should be aware of.
如果您想了解海信视像面临的风险,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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