Investors Could Be Concerned With Leo Group's (SZSE:002131) Returns On Capital
Investors Could Be Concerned With Leo Group's (SZSE:002131) Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Although, when we looked at Leo Group (SZSE:002131), it didn't seem to tick all of these boxes.
找到一家有大幅增長潛力的企業並不容易,但是如果我們看一下一些關鍵的財務指標,這是可能的。在一個完美的世界中,我們希望看到一家公司向其業務投資更多的資本,理想情況下,從這些資本中獲得的回報也在增加。基本上,這意味着一家公司有可以繼續進行再投資的盈利計劃,這是複合機的一個特徵。但是,當我們查看利奧集團(SZSE:002131)時,它似乎並沒有勾選所有這些方框。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Leo Group, this is the formula:
對於那些不確定ROCE是什麼的人來說,它衡量的是公司從業務中使用的資本中可以產生的稅前利潤額。要計算利奧集團的這個指標,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)
0.016 = CN¥263m ÷ (CN¥24b - CN¥7.2b) (Based on the trailing twelve months to September 2023).
0.016 = CN¥263m ≤(CN¥24b-CN¥7.2b) (基於截至2023年9月的過去十二個月)。
So, Leo Group has an ROCE of 1.6%. Ultimately, that's a low return and it under-performs the Media industry average of 4.9%.
因此,利奧集團的投資回報率爲1.6%。歸根結底,這是一個低迴報,其表現低於媒體行業4.9%的平均水平。
Check out our latest analysis for Leo Group
查看我們對利奧集團的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231109/0-02b266d6bcb1f6c84b6422fb06407bbc-0-f4c748fcf17c38ed4a7c683eeea69ad6.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Leo Group's ROCE against it's prior returns. If you're interested in investigating Leo Group's past further, check out this free graph of past earnings, revenue and cash flow.
在研究股票時,歷史表現是一個不錯的起點,因此在上方你可以看到利奧集團投資回報率與先前回報率的衡量標準。如果您有興趣進一步調查利奧集團的過去,請查看這張免費的過去收益、收入和現金流圖表。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
In terms of Leo Group's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 6.4%, but since then they've fallen to 1.6%. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.
就利奧集團的歷史投資回報率走勢而言,這種趨勢並不理想。大約五年前,資本回報率爲6.4%,但此後已降至1.6%。另一方面,去年該公司一直在使用更多資金,但銷售額沒有相應改善,這可能表明這些投資是長期投資。公司可能需要一段時間才能開始看到這些投資的收益發生任何變化。
The Bottom Line
底線
To conclude, we've found that Leo Group is reinvesting in the business, but returns have been falling. And with the stock having returned a mere 30% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
總而言之,我們發現利奧集團正在對該業務進行再投資,但回報率一直在下降。而且,在過去五年中,該股向股東的回報率僅爲30%,你可以說他們意識到這些乏善可陳的趨勢。因此,如果你正在尋找一款多功能遊戲,那麼潛在的趨勢表明你在其他地方可能有更好的機會。
On a final note, we've found 1 warning sign for Leo Group that we think you should be aware of.
最後一點,我們發現了 Leo Group 的 1 個警告信號,我們認爲你應該注意這些信號。
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.
如果你想尋找收益豐厚的穩健公司,可以免費查看這份資產負債表良好且股本回報率可觀的公司名單。
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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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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。