Returns On Capital At Ningbo Huaxiang Electronic (SZSE:002048) Have Hit The Brakes
Returns On Capital At Ningbo Huaxiang Electronic (SZSE:002048) Have Hit The Brakes
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing 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 briefly looking over the numbers, we don't think Ningbo Huaxiang Electronic (SZSE:002048) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
我們應該尋找哪些早期趨勢來識別一隻可能在長期內成倍增值的股票?一種常見的方法是嘗試找到一家擁有退貨已使用資本(ROCE)正在增加,同時也在增長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。然而,在簡單地看了一下數位之後,我們認為寧波華翔電子(SZSE:002048)具備了未來實現多個袋子的條件,但讓我們來看看為什麼會這樣。
Understanding Return On Capital Employed (ROCE)
瞭解資本回報率(ROCE)
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. The formula for this calculation on Ningbo Huaxiang Electronic is:
對於那些不知道的人來說,ROCE是一家公司的年度稅前利潤(其回報)相對於業務資本的衡量標準。寧波華翔電子的這一計算公式為:
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)
0.098 = CN¥1.5b ÷ (CN¥25b - CN¥10b) (Based on the trailing twelve months to June 2023).
0.098=CN元15億?(CN元25B-CN元10B)(根據截至2023年6月的往績12個月計算)。
Therefore, Ningbo Huaxiang Electronic has an ROCE of 9.8%. In absolute terms, that's a low return, but it's much better than the Auto Components industry average of 5.6%.
所以呢,寧波華翔電子的淨資產收益率為9.8%。按絕對值計算,這是一個較低的回報率,但遠好於汽車零部件行業5.6%的平均水準。
View our latest analysis for Ningbo Huaxiang Electronic
查看我們對寧波華翔電子的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231020/0-d5375dfd62d28de16a8523939e58cda1-0-17d698b777209b19f265882c67e8846f.png/big)
Above you can see how the current ROCE for Ningbo Huaxiang Electronic 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 Ningbo Huaxiang Electronic here for free.
上面你可以看到寧波華翔電子目前的淨資產收益率與其之前的資本回報率相比如何,但從過去你只能看出這麼多。如果您願意,您可以在這裡查看寧波華翔電子分析師的預測。免費的。
So How Is Ningbo Huaxiang Electronic's ROCE Trending?
那麼,寧波華翔電子的ROCE趨勢如何?
In terms of Ningbo Huaxiang Electronic's historical ROCE trend, it doesn't exactly demand attention. The company has employed 53% more capital in the last five years, and the returns on that capital have remained stable at 9.8%. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
就寧波華翔電子的歷史ROCE走勢而言,它並不完全需要關注。該公司在過去五年中增聘了53%的資本,這些資本的回報率一直穩定在9.8%。這種糟糕的ROCE目前並沒有激發人們的信心,而且隨著所用資本的增加,很明顯,該公司沒有將資金用於高回報投資。
Another thing to note, Ningbo Huaxiang Electronic has a high ratio of current liabilities to total assets of 40%. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另外需要注意的是,寧波華翔電子的流動負債與總資產之比高達40%。這實際上意味著供應商(或短期債權人)正在為很大一部分業務提供資金,因此只需意識到這可能會帶來一些風險因素。理想情況下,我們希望看到這一比例降低,因為這將意味著承擔風險的債務更少。
The Key Takeaway
關鍵的外賣
In summary, Ningbo Huaxiang Electronic has simply been reinvesting capital and generating the same low rate of return as before. Since the stock has gained an impressive 85% over the last five years, investors must think there's better things to come. However, unless these underlying trends turn more positive, we wouldn't get our hopes up too high.
總而言之,寧波華翔電子一直在進行資本再投資,產生的回報率與以前一樣低。由於該股在過去五年中上漲了85%,投資者肯定認為未來會有更好的事情發生。然而,除非這些潛在趨勢變得更加積極,否則我們不會抱太大希望。
On a final note, we've found 1 warning sign for Ningbo Huaxiang Electronic that we think you should be aware of.
最後一點,我們發現寧波華翔電子1個警示標誌我們認為你應該意識到.
While Ningbo Huaxiang Electronic isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管寧波華翔電子的回報率並不是最高的,但看看這個。免費資產負債表穩健、股本回報率高的公司名單。
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對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.