Investors Should Be Encouraged By Inner Mongolia OJing Science & Technology's (SZSE:001269) Returns On Capital
Investors Should Be Encouraged By Inner Mongolia OJing Science & Technology's (SZSE:001269) Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Speaking of which, we noticed some great changes in Inner Mongolia OJing Science & Technology's (SZSE:001269) 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?理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 的已動用資本。如果你看到這一點,那通常意味着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。說到這裏,我們注意到內蒙古奧晶科技(SZSE: 001269)的資本回報率發生了一些重大變化,所以讓我們來看看。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (ROCE)
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 Inner Mongolia OJing Science & Technology, 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。要計算內蒙古奧晶科技的這個指標,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)
0.41 = CN¥754m ÷ (CN¥2.9b - CN¥1.1b) (Based on the trailing twelve months to September 2023).
0.41 = CN¥7.54 億 ¥( CN¥2.9b-CN¥1.1b) (基於截至2023年9月的過去十二個月)。
So, Inner Mongolia OJing Science & Technology has an ROCE of 41%. That's a fantastic return and not only that, it outpaces the average of 4.2% earned by companies in a similar industry.
因此,內蒙古奧晶科技的投資回報率爲41%。這是一個了不起的回報,不僅如此,它還超過了同類行業公司4.2%的平均收入。
View our latest analysis for Inner Mongolia OJing Science & Technology
查看我們對內蒙古奧晶科技的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231125/0-3a579718553c86e6f9f23617348de01b-0-01f91bec43cb7d176fa3177071cb9e0b.png/big)
In the above chart we have measured Inner Mongolia OJing Science & 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 Inner Mongolia OJing Science & Technology here for free.
在上面的圖表中,我們對內蒙古奧晶科技之前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果你願意,你可以在這裏免費查看內蒙古Ojing Science & Technology的分析師的預測。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
We like the trends that we're seeing from Inner Mongolia OJing Science & Technology. The data shows that returns on capital have increased substantially over the last five years to 41%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 502%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我們喜歡我們從內蒙古奧晶科技看到的趨勢。數據顯示,在過去五年中,資本回報率已大幅提高至41%。實際上,該公司每使用1美元的資本可以賺更多的錢,值得注意的是,資本金額也增加了502%。不斷增長的資本回報率在多元化企業中很常見,這就是我們印象深刻的原因。
One more thing to note, Inner Mongolia OJing Science & Technology has decreased current liabilities to 38% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. So this improvement in ROCE has come from the business' underlying economics, which is great to see.
還有一點需要注意的是,在此期間,內蒙古奧晶科技已將流動負債降至總資產的38%,這實際上減少了供應商或短期債權人的融資額。因此,投資回報率的提高來自於該企業的基礎經濟學,很高興看到這一點。
In Conclusion...
總之...
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Inner Mongolia OJing Science & Technology has. Given the stock has declined 37% in the last year, this could be a good investment if the valuation and other metrics are also appealing. With that in mind, we believe the promising trends warrant this stock for further investigation.
一家不斷提高資本回報率並能夠持續進行自我再投資的公司是一個備受追捧的特徵,而這正是內蒙古奧晶科技所擁有的特徵。鑑於該股去年下跌了37%,如果估值和其他指標也具有吸引力,這可能是一項不錯的投資。考慮到這一點,我們認爲前景良好的趨勢證明該股值得進一步調查。
If you want to know some of the risks facing Inner Mongolia OJing Science & Technology we've found 2 warning signs (1 shouldn't be ignored!) that you should be aware of before investing here.
如果你想知道內蒙古面臨的一些風險 Ojing Science & Technology,我們已經找到了兩個警告標誌(其中一個不容忽視!)在這裏投資之前,你應該意識到這一點。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司獲得高回報,請在此處查看我們的免費高回報且資產負債表穩健的公司名單。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。