Be Wary Of BOE Technology Group (SZSE:000725) And Its Returns On Capital
Be Wary Of BOE Technology Group (SZSE:000725) And 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? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating BOE Technology Group (SZSE:000725), we don't think it's current trends fit the mold of a multi-bagger.
如果我们想确定可以长期成倍增长的股票,我们应该寻找什么趋势?通常,我们会注意到动用资本回报率(ROCE)的增长趋势,与此同时,使用的资本基础也在扩大。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。但是,在调查了京东方科技集团(SZSE: 000725)之后,我们认为目前的趋势不符合多袋机的模式。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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 BOE Technology Group:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。分析师使用这个公式来计算京东方科技集团的利润:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.0046 = CN¥1.5b ÷ (CN¥422b - CN¥100b) (Based on the trailing twelve months to June 2024).
0.0046 = 15元人民币 ÷(4220元人民币-100亿元人民币)(基于截至2024年6月的过去十二个月)。
So, BOE Technology Group has an ROCE of 0.5%. Ultimately, that's a low return and it under-performs the Electronic industry average of 5.4%.
因此,京东方科技集团的投资回报率为0.5%。归根结底,这是一个低回报,其表现低于电子行业5.4%的平均水平。
Above you can see how the current ROCE for BOE Technology Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering BOE Technology Group for free.
上面你可以看到京东方科技集团当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果你愿意,你可以免费查看报道京东方科技集团的分析师的预测。
So How Is BOE Technology Group's ROCE Trending?
那么京东方科技集团的投资回报率趋势如何呢?
In terms of BOE Technology Group's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 0.5% from 1.3% five years ago. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. If these investments prove successful, this can bode very well for long term stock performance.
就京东方科技集团的历史投资回报率走势而言,这一趋势并不理想。在过去五年中,资本回报率从五年前的1.3%降至0.5%。尽管考虑到该业务的收入和资产数量都有所增加,但这可能表明该公司正在投资增长,而额外的资本导致了投资回报率的短期下降。如果这些投资被证明是成功的,这对长期股票表现来说可能是个好兆头。
The Bottom Line
底线
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for BOE Technology Group. In light of this, the stock has only gained 31% over the last five years. So this stock may still be an appealing investment opportunity, if other fundamentals prove to be sound.
尽管短期内资本回报率有所下降,但我们认为京东方科技集团的收入和所用资本都有所增加是有希望的。有鉴于此,该股在过去五年中仅上涨了31%。因此,如果其他基本面被证明是合理的,那么这只股票可能仍然是一个有吸引力的投资机会。
If you want to continue researching BOE Technology Group, you might be interested to know about the 2 warning signs that our analysis has discovered.
如果您想继续研究京东方科技集团,您可能有兴趣了解我们的分析发现的两个警告信号。
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.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。