JC Finance & Tax Interconnect Holdings (SZSE:002530) Will Be Looking To Turn Around Its Returns
JC Finance & Tax Interconnect Holdings (SZSE:002530) Will Be Looking To Turn Around Its Returns
0.0085 = CN¥14m ÷ (CN¥2.6b - CN¥969m) What underlying fundamental trends can indicate that a company might be in decline? Businesses in decline often have two underlying trends, firstly, a declining return on capital employed (ROCE) and a declining base of capital employed. Basically the company is earning less on its investments and it is also reducing its total assets. In light of that, from a first glance at JC Finance & Tax Interconnect Holdings (SZSE:002530), we've spotted some signs that it could be struggling, so let's investigate.
哪些潜在的基本趋势可能表明一家公司可能处于衰退中？衰退中的企业通常有两个潜在趋势，首先，资本使用回报率（ROCE）下降，资本使用基础下降。基本上，公司在其投资上的收益减少，且其总资产也在减少。考虑到这一点，从对JC Finance & Tax Interconnect Holdings（深交所代码：002530）的初步观察中，我们发现了一些迹象，表明它可能面临困难，因此让我们深入研究一下。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较，但过去只能知道这么多。如果您感兴趣，可以查看我们免费的蒙托克可再生能源分析师报告，了解分析师的预测。
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. Analysts use this formula to calculate it for JC Finance & Tax Interconnect Holdings:
为了澄清，如果你不确定，ROCE是评估公司在投资业务的资本上赚取多少税前收入（以百分比计算）的指标。分析师使用以下公式来计算JC Finance & Tax Interconnect Holdings的ROCE：
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）
0.0085 = CN¥14m ÷ (CN¥2.6b - CN¥969m) (Based on the trailing twelve months to September 2024).
0.0085 = CN¥1400万 ÷ (CN¥26亿 - CN¥969m)（基于截至2024年9月的过去12个月数据）。
Therefore, JC Finance & Tax Interconnect Holdings has an ROCE of 0.8%. Ultimately, that's a low return and it under-performs the Machinery industry average of 5.2%.
因此，JC Finance & Tax Interconnect Holdings的ROCE为0.8%。最终，这是一个较低的回报，低于机械行业的平均水平5.2%。
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of JC Finance & Tax Interconnect Holdings.
虽然过去并不能代表未来，但了解一家公司的历史表现是有帮助的，这就是我们上面的图表存在的原因。如果你想深入了解历史收益，请查看这些免费的图表，详细说明了JC Finance & Tax Interconnect Holdings的营业收入和现金流表现。
What Does the ROCE Trend For JC Finance & Tax Interconnect Holdings Tell Us?
JC Finance & Tax Interconnect Holdings的ROCE趋势告诉我们什么？
The trend of returns that JC Finance & Tax Interconnect Holdings is generating are raising some concerns. Unfortunately, returns have declined substantially over the last five years to the 0.8% we see today. In addition to that, JC Finance & Tax Interconnect Holdings is now employing 65% less capital than it was five years ago. When you see both ROCE and capital employed diminishing, it can often be a sign of a mature and shrinking business that might be in structural decline. If these underlying trends continue, we wouldn't be too optimistic going forward.
JC Finance & Tax Interconnect Holdings所产生的回报趋势引发了一些担忧。不幸的是，过去五年来，回报大幅下降至我们今天看到的0.8%。此外，JC Finance & Tax Interconnect Holdings现在的资本投入比五年前减少了65%。当你看到ROCE和投入资本都在减少时，这通常是成熟且正在萎缩的业务可能面临结构性衰退的迹象。如果这些基本趋势持续下去，我们未来不会太乐观。
On a side note, JC Finance & Tax Interconnect Holdings' current liabilities have increased over the last five years to 38% of total assets, effectively distorting the ROCE to some degree. Without this increase, it's likely that ROCE would be even lower than 0.8%. While the ratio isn't currently too high, it's worth keeping an eye on this because if it gets particularly high, the business could then face some new elements of risk.
顺便提一下，JC Finance & Tax Interconnect Holdings的当前负债在过去五年中增加到总资产的38%，在一定程度上扭曲了ROCE。如果没有这一增长，ROCE可能会低于0.8%。虽然目前的比例不是很高，但值得关注，因为如果它变得特别高，该业务可能会面临一些新的风险元素。
The Key Takeaway
重要提示
In summary, it's unfortunate that JC Finance & Tax Interconnect Holdings is shrinking its capital base and also generating lower returns. It should come as no surprise then that the stock has fallen 12% over the last five years, so it looks like investors are recognizing these changes. With underlying trends that aren't great in these areas, we'd consider looking elsewhere.
总之，JC Finance & Tax Interconnect Holdings正在缩减其资本基础并产生较低的回报，这让人感到遗憾。因此，该股票在过去五年中下跌了12%也就不足为奇了，看起来投资者已经意识到这些变化。在这些领域，基本趋势不佳，我们将考虑另寻他处。
JC Finance & Tax Interconnect Holdings could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation for 002530 on our platform quite valuable.
JC金融与税务互联控股在其他方面的交易价格可能具有吸引力，因此您可能会发现我们平台上002530的免费内在价值评估非常有价值。
While JC Finance & Tax Interconnect Holdings isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然JC金融与税务互联控股的回报不是最高的，但请查看这份关于盈利高回报且资产负债表稳健的公司的免费名单。
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