Topsec Technologies Group (SZSE:002212) Could Be Struggling To Allocate Capital
Topsec Technologies Group (SZSE:002212) Could Be Struggling To Allocate Capital
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. Having said that, from a first glance at Topsec Technologies Group (SZSE:002212) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
我們應該尋找哪些早期趨勢來確定一隻可能長期價值成倍增長的股票?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。話雖如此,乍一看Topsec Technologies集團(SZSE:002212),我們並不是對回報趨勢不屑一顧,但讓我們更深入地了解一下。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (ROCE)
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. To calculate this metric for Topsec Technologies Group, this is the formula:
爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。要計算Topsec科技集團的這一指標,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)
0.036 = CN¥358m ÷ (CN¥11b - CN¥1.5b) (Based on the trailing twelve months to September 2023).
0.036 = 3.58億元人民幣 ÷(11億元人民幣-1.5億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Topsec Technologies Group has an ROCE of 3.6%. On its own that's a low return, but compared to the average of 2.7% generated by the Software industry, it's much better.
因此,Topsec Technologies Group的投資回報率爲3.6%。就其本身而言,回報率很低,但與軟件行業2.7%的平均回報率相比,要好得多。
View our latest analysis for Topsec Technologies Group
查看我們對Topsec Technologies集團的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231108/0-1df6b4aa01aec877f8781caf52966966-0-a138967a72cd015d693b55ee67b3ab96.png/big)
Above you can see how the current ROCE for Topsec Technologies Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Topsec Technologies Group.
上面你可以看到Topsec Technologies集團當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你想了解分析師對未來的預測,你應該查看我們爲Topsec Technologies集團提供的免費報告。
The Trend Of ROCE
ROCE 的趨勢
In terms of Topsec Technologies Group's historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 6.3% over the last five years. However it looks like Topsec Technologies Group might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就Topsec Technologies集團的歷史投資回報率走勢而言,這一趨勢並不理想。更具體地說,投資回報率已從過去五年的6.3%下降。但是,看來Topsec Technologies Group可能正在進行再投資以實現長期增長,因爲儘管動用資本有所增加,但該公司的銷售額在過去12個月中沒有太大變化。從現在起,值得關注公司的收益,看看這些投資最終是否確實爲利潤做出了貢獻。
Our Take On Topsec Technologies Group's ROCE
我們對Topsec科技集團投資回報率的看法
Bringing it all together, while we're somewhat encouraged by Topsec Technologies Group's reinvestment in its own business, we're aware that returns are shrinking. Unsurprisingly then, the total return to shareholders over the last five years has been flat. Therefore based on the analysis done in this article, we don't think Topsec Technologies Group has the makings of a multi-bagger.
綜上所述,儘管Topsec Technologies集團對自有業務的再投資使我們感到有些鼓舞,但我們意識到回報正在萎縮。因此,毫不奇怪,在過去五年中,股東的總回報率一直持平。因此,根據本文中的分析,我們認爲Topsec Technologies集團不具備多口袋機的實力。
While Topsec Technologies Group doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation on our platform.
儘管Topsec Technologies集團在這方面的表現並不太明顯,但該公司是否以誘人的價格進行交易仍然值得一看。您可以通過我們平台上的免費內在價值估算中找到答案。
While Topsec Technologies Group 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Topsec Technologies Group的回報率並不高,但請查看這份免費清單,列出了資產負債表穩健的股本回報率高的公司。
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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。