Be Wary Of Baosheng Science and Technology InnovationLtd (SHSE:600973) And Its Returns On Capital
Be Wary Of Baosheng Science and Technology InnovationLtd (SHSE:600973) And Its Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Baosheng Science and Technology InnovationLtd (SHSE:600973) and its ROCE trend, we weren't exactly thrilled.
如果我們想確定下一個多功能裝袋機,有一些關鍵趨勢需要關注。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。歸根結底,這表明這是一家以更高的回報率對利潤進行再投資的企業。有鑑於此,當我們查看寶勝科技創新有限公司(SHSE:600973)及其ROCE趨勢時,我們並不感到非常興奮。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
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 Baosheng Science and Technology InnovationLtd, this is the formula:
如果你以前沒有與ROCE合作過,它可以衡量一家公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。要計算寶勝科技創新有限公司的這個指標,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)
0.075 = CN¥653m ÷ (CN¥24b - CN¥15b) (Based on the trailing twelve months to September 2023).
0.075 = 653萬元人民幣 ≤(CN¥24b-CN¥15b) (基於截至2023年9月的過去十二個月)。
Thus, Baosheng Science and Technology InnovationLtd has an ROCE of 7.5%. In absolute terms, that's a low return but it's around the Electrical industry average of 6.3%.
因此,寶盛科技創新有限公司的投資回報率爲7.5%。從絕對值來看,這是一個很低的回報,但約爲電氣行業的平均水平,爲6.3%。
View our latest analysis for Baosheng Science and Technology InnovationLtd
查看我們對寶勝科技創新有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231204/0-351dfe385abd432971232b05c8e57211-0-08881a88b0fef55ab5057d03cde76b3e.png/big)
In the above chart we have measured Baosheng Science and Technology InnovationLtd's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上面的圖表中,我們衡量了寶勝科技創新有限公司之前的投資回報率與之前的業績,但可以說,未來更爲重要。如果你有興趣,可以在我們關於公司分析師預測的免費報告中查看分析師的預測。
The Trend Of ROCE
ROCE 的趨勢
In terms of Baosheng Science and Technology InnovationLtd's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 7.5% from 12% five years ago. 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'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.
就寶盛科技創新有限公司的歷史投資回報率走勢而言,這種趨勢並不理想。在過去五年中,資本回報率從五年前的12%下降到7.5%。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。值得關注該公司的收益,看看這些投資最終能否爲利潤做出貢獻。
Another thing to note, Baosheng Science and Technology InnovationLtd has a high ratio of current liabilities to total assets of 64%. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
需要注意的另一件事是,寶勝科技創新有限公司的流動負債佔總資產的比率很高,爲64%。這可能會帶來一些風險,因爲該公司的運營基本上相當依賴其供應商或其他類型的短期債權人。雖然這不一定是一件壞事,但如果這個比率較低,可能會有好處。
The Key Takeaway
關鍵要點
In summary, Baosheng Science and Technology InnovationLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. And with the stock having returned a mere 35% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
總而言之,寶盛科技創新有限公司正在將資金重新投資到業務中以實現增長,但不幸的是,銷售額似乎還沒有太大增長。而且,由於該股在過去五年中僅爲股東帶來了35%的回報,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裝袋,我們認爲你在其他地方運氣會更好。
On a final note, we've found 2 warning signs for Baosheng Science and Technology InnovationLtd that we think you should be aware of.
最後一點,我們發現了寶勝科技創新有限公司的兩個警告信號,我們認爲你應該注意這些警告。
While Baosheng Science and Technology InnovationLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管寶盛科技創新有限公司的回報率不是最高的,但請查看這份免費清單,列出了資產負債表穩健且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。