China South Publishing & Media Group's (SHSE:601098) Returns Have Hit A Wall
China South Publishing & Media Group's (SHSE:601098) Returns Have Hit A Wall
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. However, after investigating China South Publishing & Media Group (SHSE:601098), we don't think it's current trends fit the mold of a multi-bagger.
如果你正在尋找一個多袋子,有幾個東西需要注意。理想情況下,一家企業將呈現兩種趨勢;第一,增長退貨關於已使用資本(ROCE),第二,增加金額已動用資本的比例。基本上,這意味著一家公司有盈利的舉措,可以繼續進行再投資,這是復合機器的一個特點。不過,經過調查,中國南方出版傳媒集團(上海證券交易所:601098),我們認為目前的趨勢不符合多袋子模式。
Return On Capital Employed (ROCE): What Is It?
資本回報率(ROCE):它是什麼?
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 China South Publishing & Media Group:
如果您不確定,只需澄清一下,ROCE是一種評估公司投資於其業務的資本獲得多少稅前收入(按百分比計算)的指標。分析師用這個公式來計算中國南方出版傳媒集團的股價:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率=息稅前收益(EBIT)?(總資產-流動負債)
0.09 = CN¥1.5b ÷ (CN¥24b - CN¥8.2b) (Based on the trailing twelve months to June 2023).
0.09=CN元15億?(CN元240億-CN元82億)(根據截至2023年6月的往績12個月計算)。
Therefore, China South Publishing & Media Group has an ROCE of 9.0%. On its own that's a low return, but compared to the average of 4.7% generated by the Media industry, it's much better.
所以呢,中國南方出版傳媒集團的淨資產收益率為9.0%。就其本身而言,這是一個很低的回報率,但與媒體行業4.7%的平均回報率相比,這要好得多。
View our latest analysis for China South Publishing & Media Group
查看我們對中國南方出版傳媒集團的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230917/0-a2daaef7e6ef5c9e6dce84c841921349-0-07d4c7cc18551fdb44334a0a91c4b55b.png/big)
In the above chart we have measured China South Publishing & Media Group's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上面的圖表中,我們比較了中國南方出版傳媒集團之前的淨資產收益率和之前的業績,但可以說,未來更重要。如果您感興趣,您可以在我們的免費分析師對該公司的預測報告.
The Trend Of ROCE
ROCE的發展趨勢
Over the past five years, China South Publishing & Media Group's ROCE and capital employed have both remained mostly flat. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. With that in mind, unless investment picks up again in the future, we wouldn't expect China South Publishing & Media Group to be a multi-bagger going forward.
在過去的五年裡,中國南方出版傳媒集團的淨資產收益率和已動用資本基本持平。當一家成熟而穩定的企業沒有對其收益進行再投資時,這種情況並不少見,因為它很可能已經度過了商業週期的那個階段。考慮到這一點,除非未來投資再次回升,否則我們預計中國南方出版傳媒集團不會成為一家多元化的企業。
Our Take On China South Publishing & Media Group's ROCE
我們對中國南方出版傳媒集團ROCE的看法
In summary, China South Publishing & Media Group isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And investors may be recognizing these trends since the stock has only returned a total of 35% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
總而言之,中國南方出版傳媒集團的盈利並沒有增加,但投入的資本卻產生了穩定的回報。投資者可能已經意識到了這些趨勢,因為過去五年,該股向股東總共只有35%的回報率。因此,如果你正在尋找一個多袋子,潛在的趨勢表明,你可能在其他地方有更好的機會。
On a final note, we found 2 warning signs for China South Publishing & Media Group (1 doesn't sit too well with us) you should be aware of.
最後,我們發現中國南方出版傳媒集團的2個警示標誌(1與我們坐在一起不太好)你應該知道。
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.
對於那些喜歡投資於穩固的公司,看看這個免費資產負債表穩健、股本回報率高的公司名單。
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