Some Investors May Be Worried About Shanxi Blue Flame Holding's (SZSE:000968) Returns On Capital
Some Investors May Be Worried About Shanxi Blue Flame Holding's (SZSE:000968) Returns On Capital
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Shanxi Blue Flame Holding (SZSE:000968) and its ROCE trend, we weren't exactly thrilled.
如果你不確定在尋找下一個多袋子時從哪裡開始,有幾個關鍵的趨勢你應該密切關注。首先,我們想要確定一個不斷增長的退貨在已使用資本(ROCE)上,然後在此基礎上,不斷增加基地已動用資本的比例。歸根結底,這表明它是一家正在以越來越高的回報率對利潤進行再投資的企業。有鑒於此,當我們看到山西藍火控股(SZSE:000968)和它的ROCE趨勢,我們並不是很興奮。
Return On Capital Employed (ROCE): What Is It?
資本回報率(ROCE):它是什麼?
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. Analysts use this formula to calculate it for Shanxi Blue Flame Holding:
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。分析人士使用以下公式計算山西藍焰控股的股價:
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)
0.083 = CN¥715m ÷ (CN¥12b - CN¥3.5b) (Based on the trailing twelve months to June 2023).
0.083=人民幣7.15億?(人民幣120億元-人民幣35億元)(根據截至2023年6月的往績12個月計算)。
Thus, Shanxi Blue Flame Holding has an ROCE of 8.3%. Ultimately, that's a low return and it under-performs the Oil and Gas industry average of 14%.
因此,山西藍焰控股的淨資產收益率為8.3%。歸根結底,這是一個較低的回報率,表現低於石油和天然氣行業14%的平均水準。
See our latest analysis for Shanxi Blue Flame Holding
查看我們對山西藍火控股的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231023/0-d7ffe0936e3e1ca29d053dee6db1d130-0-30863d483270681a793a8fddd26eaa50.png/big)
In the above chart we have measured Shanxi Blue Flame Holding'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 Shanxi Blue Flame Holding here for free.
在上面的圖表中,我們衡量了山西藍火控股之前的淨資產收益率與其之前的表現,但可以說,未來更重要。如果你願意,你可以查看分析師對山西藍火控股公司的預測免費的。
How Are Returns Trending?
回報趨勢如何?
When we looked at the ROCE trend at Shanxi Blue Flame Holding, we didn't gain much confidence. To be more specific, ROCE has fallen from 16% over the last five years. 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
當我們看著山西藍焰控股的ROCE走勢時,我們並沒有獲得太多信心。更具體地說,ROCE在過去五年中從16%下降。儘管,考慮到收入和業務中使用的資產數量都有所增加,這可能表明該公司正在投資於增長,而額外的資本導致了ROCE的短期下降。如果增加的資本產生額外的回報,從長遠來看,企業和股東都將受益。
The Bottom Line
底線
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Shanxi Blue Flame Holding. These growth trends haven't led to growth returns though, since the stock has fallen 37% over the last five years. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.
儘管資本回報率在短期內下降,但我們發現山西藍火控股的收入和使用資本都有所增加,這是有希望的。不過,這些增長趨勢並沒有帶來增長回報,因為該公司股價在過去五年裡下跌了37%。因此,我們建議進一步研究這只股票,以揭示該業務的其他基本面可以向我們展示什麼。
On a final note, we've found 1 warning sign for Shanxi Blue Flame Holding that we think you should be aware of.
最後一點,我們發現1山西藍火舉行警示標誌我們認為你應該意識到.
While Shanxi Blue Flame Holding isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然山西藍焰控股並沒有獲得最高的回報,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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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.