Investors Will Want Hwatsing Technology's (SHSE:688120) Growth In ROCE To Persist
Investors Will Want Hwatsing Technology's (SHSE:688120) Growth In ROCE To Persist
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Speaking of which, we noticed some great changes in Hwatsing Technology's (SHSE:688120) returns on capital, so let's have a look.
如果我們想找到一隻可以長期成倍增長的股票,我們應該尋找哪些潛在趨勢?首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 基礎 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。說到這裏,我們注意到海興科技(SHSE: 688120)的資本回報率發生了一些重大變化,所以讓我們來看看吧。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Hwatsing Technology, this is the formula:
如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。要計算Hwatsing Technology的這個指標,公式如下:
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)
0.10 = CN¥631m ÷ (CN¥8.7b - CN¥2.4b) (Based on the trailing twelve months to September 2023).
0.10 = 6.31億元人民幣 ÷(8.7億元人民幣-24億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Hwatsing Technology has an ROCE of 10%. On its own, that's a standard return, however it's much better than the 4.2% generated by the Semiconductor industry.
因此,海信科技的投資回報率爲10%。就其本身而言,這是標準回報,但要比半導體行業產生的4.2%好得多。
View our latest analysis for Hwatsing Technology
查看我們對華興科技的最新分析
In the above chart we have measured Hwatsing Technology'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 Hwatsing Technology here for free.
在上圖中,我們將海信科技先前的投資回報率與之前的表現進行了比較,但可以說,未來更爲重要。如果你願意,可以在這裏免費查看報道華信科技的分析師的預測。
What Does the ROCE Trend For Hwatsing Technology Tell Us?
採暖技術的投資回報率趨勢告訴我們什麼?
The fact that Hwatsing Technology is now generating some pre-tax profits from its prior investments is very encouraging. The company was generating losses four years ago, but now it's earning 10% which is a sight for sore eyes. In addition to that, Hwatsing Technology is employing 2,755% more capital than previously which is expected of a company that's trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
Hwatsing Technology現在正在從先前的投資中產生一些稅前利潤,這一事實非常令人鼓舞。該公司在四年前出現虧損,但現在的收入爲10%,這真是令人眼花繚亂。除此之外,Hwatsing Technology僱用的資本比以前多出2755%,這是一家試圖實現盈利的公司的預期。這可能表明,有很多機會在內部進行資本投資,並以更高的利率進行資本投資,這兩者都是多袋投資者的共同特徵。
In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 28%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. So shareholders would be pleased that the growth in returns has mostly come from underlying business performance.
在分析的另一部分中,我們注意到該公司的流動負債佔總資產的比率降至28%,這在很大程度上意味着該企業減少了對供應商或短期債權人爲其運營提供資金的依賴。因此,股東們會很高興回報的增長主要來自基礎業務表現。
What We Can Learn From Hwatsing Technology's ROCE
我們可以從Hatsing Technology的投資回報率中學到什麼
To the delight of most shareholders, Hwatsing Technology has now broken into profitability. And with a respectable 14% awarded to those who held the stock over the last year, you could argue that these developments are starting to get the attention they deserve. In light of that, we think it's worth looking further into this stock because if Hwatsing Technology can keep these trends up, it could have a bright future ahead.
令大多數股東高興的是,Hwatsing Technology現已進入盈利階段。而且,去年持有該股的人將獲得可觀的14%的獎勵,你可以說這些事態發展已開始得到應有的關注。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果Hwatsing Technology能夠保持這些趨勢,它可能會有一個光明的未來。
On a final note, we've found 1 warning sign for Hwatsing Technology that we think you should be aware of.
最後,我們發現了Hwatsing Technology的1個警告信號,我們認爲您應該注意這一點。
While Hwatsing Technology may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管Hwatsing Technology目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司名單。在這裏查看這個免費清單。
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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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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。