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Shandong Xinjufeng Technology Packaging's (SZSE:301296) Returns On Capital Not Reflecting Well On The Business

Shandong Xinjufeng Technology Packaging's (SZSE:301296) Returns On Capital Not Reflecting Well On The Business

山东新炬峰科技包装(SZSE:301296)资本回报率对业务的反映不佳
Simply Wall St ·  09/27 21:54

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after investigating Shandong Xinjufeng Technology Packaging (SZSE:301296), we don't think it's current trends fit the mold of a multi-bagger.

你知道有一些财务指标可以提供潜在的多倍收益的线索吗?除其他事项外,我们将想要看到两件事;首先,资本使用回报率(ROCE)的增长,其次是公司资本使用量的扩张。简单地说,这些类型的企业是复利机器,这意味着它们不断以越来越高的回报率重新投资他们的收益。然而,经过调查山东新聚丰科技包装(SZSE:301296),我们认为它目前的趋势并不符合多倍收益的模式。

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 who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Shandong Xinjufeng Technology Packaging, this is the formula:

对于那些不了解的人,ROCE是衡量公司每年税前利润(其回报)与业务中使用的资本相关性的指标。 要为山东新聚丰科技包装计算这个指标,这是该公式:

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。

0.072 = CN¥183m ÷ (CN¥3.2b - CN¥687m) (Based on the trailing twelve months to June 2024).

0.072 = 1.83亿元人民币 ÷ (320000万元 - 6870万元) (基于截至2024年6月的过去十二个月)。

Thus, Shandong Xinjufeng Technology Packaging has an ROCE of 7.2%. In absolute terms, that's a low return, but it's much better than the Packaging industry average of 5.3%.

因此,山东新聚丰科技包装的ROCE为7.2%。 就绝对值而言,这是一个低回报,但比包装行业平均水平5.3%要好得多。

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SZSE:301296 Return on Capital Employed September 28th 2024
SZSE:301296 资本使用回报率2024年9月28日

Above you can see how the current ROCE for Shandong Xinjufeng Technology Packaging compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Shandong Xinjufeng Technology Packaging .

以上,你可以看到山东新炬峰科技包装的当前ROCE与其先前资本回报率相比,但过去只能告诉你这么多。如果你想了解分析师对未来的预测,应该查看我们针对山东新炬峰科技包装的免费分析师报告。

How Are Returns Trending?

综合上述,Cimpress非常有效地提高了其资本利用率所产生的回报。考虑到股票过去五年保持稳定,如果其他指标也不错,则可能存在机会。因此,进一步研究这家公司并确定这些趋势是否会持续是合理的。

On the surface, the trend of ROCE at Shandong Xinjufeng Technology Packaging doesn't inspire confidence. To be more specific, ROCE has fallen from 15% 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's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.

表面上,山东新炬峰科技包装的ROCE趋势并不令人信心满满。更具体地说,过去五年ROCE从15%下降了。另一方面,公司在过去一年中投入了更多资本,但销售并未相应提升,这可能表明这些投资是长期的。从现在开始,值得密切关注公司的收益,以查看这些投资是否最终对底线产生贡献。

What We Can Learn From Shandong Xinjufeng Technology Packaging's ROCE

我们可以从山东新炬峰科技包装的ROCE中学到什么

To conclude, we've found that Shandong Xinjufeng Technology Packaging is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 48% in the last year. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.

总之,我们发现山东新炬峰科技包装正在重新投资业务,但回报率却在下降。投资者似乎不太确定趋势会好转,因为该股去年下跌了48%。总的来说,这些潜在趋势并不典型于多倍股,所以如果这是你追求的,我们认为你可能在其他地方更幸运。

While Shandong Xinjufeng Technology Packaging doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation for 301296 on our platform.

虽然山东新炬峰科技包装在这方面表现并不出色,但仍值得看看该公司是否以有吸引力的价格交易。你可以在我们平台上找到针对301296的免费内在价值估算。

If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.

如果您想寻找财务状况良好、回报卓越的实力强企业,可以免费查看以下公司列表。

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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