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YTO Express GroupLtd (SHSE:600233) Has More To Do To Multiply In Value Going Forward

YTO Express GroupLtd (SHSE:600233) Has More To Do To Multiply In Value Going Forward

圆通速递集团有限公司(SHSE:600233)在未来还有更多工作要做以增值。
Simply Wall St ·  11/21 21:54

What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, the ROCE of YTO Express GroupLtd (SHSE:600233) looks decent, right now, so lets see what the trend of returns can tell us.

我们应该寻找什么早期趋势,以识别一家股票在长期内可能会增值的公司?在完美世界中,我们希望看到一家公司投入更多资本到其业务中,理想情况下,从该资本获得的回报也在增加。如果您看到这一点,通常意味着这是一家拥有出色业务模式和大量有利可图的再投资机会的公司。考虑到这一点,YTO Express GroupLtd (SHSE:600233) 的资本回报率ROCE看起来还不错,所以让我们看看回报的趋势能告诉我们什么。

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。

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for YTO Express GroupLtd, this is the formula:

如果您之前没有接触过ROCE,它衡量了一家公司从其业务中使用的资本所产生的‘回报’(税前利润)。要为YTO Express GroupLtd 计算这个指标,计算公式如下:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

资本利用率 = 利息和税前利润(EBIT) ÷ (总资产 - 流动负债)

0.14 = CN¥4.7b ÷ (CN¥45b - CN¥12b) (Based on the trailing twelve months to September 2024).

0.14 = 中国元47亿 ÷ (中国元450亿 - 中国元12亿) (基于2024年9月的最近十二个月)。

Thus, YTO Express GroupLtd has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Logistics industry average of 7.5% it's much better.

因此,YTO Express GroupLtd 的资本回报率为14%。从绝对值来看,这是一个令人满意的回报,但与物流行业平均值7.5%相比,它要好得多。

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SHSE:600233 Return on Capital Employed November 22nd 2024
SHSE:600233 资本利用回报2024年11月22日

In the above chart we have measured YTO Express GroupLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering YTO Express GroupLtd for free.

在上面的图表中,我们对圆通速递集团有限公司之前的资本回报率与其之前的业绩进行了衡量,但未来可能更重要。如果您愿意,可以免费查看覆盖圆通速递集团有限公司的分析师的预测。

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。

While the returns on capital are good, they haven't moved much. The company has consistently earned 14% for the last five years, and the capital employed within the business has risen 104% in that time. Since 14% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.

虽然资本回报率很好,但变动不大。该公司在过去五年里一直保持着14%的回报率,而业务中的资本使用率在此期间上升了104%。尽管14%是一个适度的资本回报率,但看到一个企业可以继续以这种不错的回报率进行再投资是件好事。在较长时期内,这类回报可能并不令人激动,但通过保持一致性,它们可以在股价回报方面取得成功。

The Bottom Line

最终结论

The main thing to remember is that YTO Express GroupLtd has proven its ability to continually reinvest at respectable rates of return. And given the stock has only risen 31% over the last five years, we'd suspect the market is beginning to recognize these trends. So to determine if YTO Express GroupLtd is a multi-bagger going forward, we'd suggest digging deeper into the company's other fundamentals.

需要记住的主要事情是,圆通速递集团有限公司已证明其能够持续以可观的回报率再投资。考虑到过去五年股价仅上涨了31%,我们怀疑市场正在开始认识到这些趋势。因此,要判断圆通速递集团有限公司是否在未来是一个成倍增长的股票,我们建议深入了解公司的其他基本面。

If you want to continue researching YTO Express GroupLtd, you might be interested to know about the 1 warning sign that our analysis has discovered.

如果您想继续研究圆通速递集团有限公司,您可能会对我们的分析发现的1个警示标志感兴趣。

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.

对于喜欢投资稳健公司的人,请查看这份具有稳健资产负债表和高权益回报的公司免费列表。

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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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