Return Trends At Bosun (SZSE:002282) Aren't Appealing
Return Trends At Bosun (SZSE:002282) Aren't Appealing
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. However, after briefly looking over the numbers, we don't think Bosun (SZSE:002282) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
為了找到一個多袋股票,什麼是潛在的趨勢,我們應該尋找在一個企業?在一個完美的世界裡,我們希望看到一家公司向其業務投入更多的資本,理想情況下,從資本中獲得的回報也在增加。如果你看到這一點,這通常意味著它是一家擁有良好商業模式和大量盈利再投資機會的公司。然而,在簡單地看了一下這些數位後,我們認為博遜(SZSE:002282)有一個多袋前進的素質,但讓我們看看為什麼可能是.
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. To calculate this metric for Bosun, this is the formula:
對於那些不知道的人來說,ROCE是衡量一家公司的年度稅前利潤(其回報),相對於企業所使用的資本。要計算Bosun的此度量,請使用以下公式:
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)
0.041 = CN¥148m ÷ (CN¥3.9b - CN¥254m) (Based on the trailing twelve months to September 2023).
0.041 = 1.48億人民幣(3.9億人民幣-2.54億人民幣)(根據截至2023年9月的往績12個月計算)。
Thus, Bosun has an ROCE of 4.1%. In absolute terms, that's a low return and it also under-performs the Machinery industry average of 6.3%.
因此,Bosun的ROCE為4.1%。按絕對值計算,這是一個較低的回報率,也低於機械行業6.3%的平均水準。
See our latest analysis for Bosun
查看我們對Bosun的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231031/0-0d72c0ffc8e28ee9ad5dd2b15cd07f38-0-549324371132e0082c3bb460ed9925cb.png/big)
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're interested in investigating Bosun's past further, check out this free graph of past earnings, revenue and cash flow.
雖然過去並不能代表未來,但瞭解一家公司的歷史表現可能會有所幫助,這就是為什麼我們有上面的圖表。如果你有興趣進一步調查水手長的過去,看看這個免費過去收益、收入和現金流的圖表。
So How Is Bosun's ROCE Trending?
那麼博孫的ROCE趨勢如何?
The returns on capital haven't changed much for Bosun in recent years. The company has employed 69% more capital in the last five years, and the returns on that capital have remained stable at 4.1%. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
近年來,博信的資本回報率沒有太大變化。在過去的五年裡,該公司的資本增加了69%,資本回報率穩定在4.1%。考慮到該公司增加了所使用的資本額,似乎已經進行的投資根本沒有提供高資本回報。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 6.6% of total assets, is good to see from a business owner's perspective. This can eliminate some of the risks inherent in the operations because the business has less outstanding obligations to their suppliers and or short-term creditors than they did previously.
還有一件事要注意,儘管ROCE在過去五年中保持相對平穩,但從企業主的角度來看,流動負債減少到總資產的6.6%是很好的。這可以消除業務中固有的一些風險,因為企業對供應商和/或短期債權人的未償債務比以前少。
Our Take On Bosun's ROCE
我們對水手長ROCE的看法
In summary, Bosun has simply been reinvesting capital and generating the same low rate of return as before. And in the last five years, the stock has given away 12% so the market doesn't look too hopeful on these trends strengthening any time soon. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
總而言之,博盛只是在進行資本再投資,並產生與以前一樣低的回報率。在過去的五年裡,該股已經下跌了12%,因此市場對這些趨勢的加強不抱太大希望。總而言之,固有的趨勢並不是典型的多袋,所以如果這是你所追求的,我們認為你可能會有更多的運氣在其他地方。
Bosun could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation on our platform quite valuable.
博孫在其他方面的交易價格可能很有吸引力,所以你可能會發現我們的自由內在價值估計在我們的平臺上相當有價值。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想尋找收入豐厚的可靠公司,看看這個免費擁有良好資產負債表和可觀股本回報率的公司名單。
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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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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.