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Guo Tai Epoint SoftwareLtd (SHSE:688232) May Have Issues Allocating Its Capital

Guo Tai Epoint SoftwareLtd (SHSE:688232) May Have Issues Allocating Its Capital

國泰Epoint SoftwareLtd(上海證券交易所代碼:688232)的資本配置可能存在問題
Simply Wall St ·  2023/12/19 07:15

What trends should we look for it we want to identify stocks that can 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Although, when we looked at Guo Tai Epoint SoftwareLtd (SHSE:688232), it didn't seem to tick all of these boxes.

如果我們想確定股票長期增值的趨勢,我們應遵循以下所有規則。首先,我們需要看到資本使用的證明。這基本上意味着公司有盈利的舉措,它可以繼續投資,這是複合機器的特點。資產回報率:它是什麼?了解資本使用回報率(ROCE)如果你以前沒有接觸過ROCE,它衡量公司從資本使用中產生的“回報”(稅前利潤)。要爲洪恩計算此指標,這是公式:資產回報率 = 利息和所得稅前收益(EBIT)÷(總資產-流動負債)這表明它是一個複合機,能夠不斷地將收益重新投資到業務中,產生更高的回報。雖然,我們看Guo Tai Epoint SoftwareLtd(SHSE:688232)時,似乎沒有完全符合這些要求。

Return On Capital Employed (ROCE): What Is It?

資本僱用回報率(ROCE)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. Analysts use this formula to calculate it for Guo Tai Epoint SoftwareLtd:

如果您之前沒有接觸過ROCE,它衡量公司通過其業務中使用的資本所產生的“回報”(稅前利潤)。分析師使用這個公式來計算Guo Tai Epoint SoftwareLtd:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

資產僱用回報率(ROCE)是指企業利潤,即企業稅前利潤除以企業投入的總資本(負債加股權)。如果ROCE高於企業財務成本的承受能力,那麼企業就會創造出更多的價值。

0.034 = CN¥182m ÷ (CN¥6.5b - CN¥1.0b) (Based on the trailing twelve months to September 2023).

0.034 = CN¥18200萬 ÷ (CN¥65億 - CN¥1.0b)因此,金鉬股份的ROCE爲22%。絕對而言,這是一個很好的回報,甚至比貴金屬礦業行業板塊的平均水平6.2%還要好。.

Thus, Guo Tai Epoint SoftwareLtd has an ROCE of 3.4%. Even though it's in line with the industry average of 2.6%, it's still a low return by itself.

因此,Guo Tai Epoint SoftwareLtd的ROCE爲3.4%。雖然它符合2.6%的行業平均水平,但它本身仍然是較低的回報。

View our latest analysis for Guo Tai Epoint SoftwareLtd

查看我們最新對Guo Tai Epoint SoftwareLtd的分析

roce
SHSE:688232 Return on Capital Employed December 18th 2023
SHSE:688232 ROCE佔用資本回報率2023年12月18日

Above you can see how the current ROCE for Guo Tai Epoint SoftwareLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

您可以看到Guo Tai Epoint SoftwareLtd的當前ROCE與其之前的資本回報率相比如何,但過去只能告訴您有限的信息。如果您有興趣,可以查看我們免費報告中分析員對該公司的預測。

What Can We Tell From Guo Tai Epoint SoftwareLtd's ROCE Trend?

從Guo Tai Epoint SoftwareLtd的ROCE趨勢中,我們得出的信心不多。在過去的兩年中,資本回報率從2年前的11%下降到3.4%。但是看起來Guo Tai Epoint SoftwareLtd可能正在爲長期成長重新投資,因爲雖然佔用資本有所增加,但公司的銷售在過去12個月中並沒有太大變化。可能需要一些時間,才能從這些投資中開始看到任何盈利變化。

When we looked at the ROCE trend at Guo Tai Epoint SoftwareLtd, we didn't gain much confidence. Over the last two years, returns on capital have decreased to 3.4% from 11% two years ago. However it looks like Guo Tai Epoint SoftwareLtd 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 may take some time before the company starts to see any change in earnings from these investments.

綜上所述,雖然我們對Guo Tai Epoint SoftwareLtd對自己業務的再投資有些鼓舞人心,但我們意識到回報正在下降。投資者似乎不敢確認這些趨勢會上升,因爲該股已經下跌了32%。無論如何,該股票沒有上述多重揹包的特徵,因此如果這是您要尋找的,我們認爲您在其他地方可能運氣更好。

The Bottom Line

還有一件事需要注意的是,我們已經確定了上海醫藥的2個警告信號,了解這些信號應該成爲你的投資過程的一部分。

Bringing it all together, while we're somewhat encouraged by Guo Tai Epoint SoftwareLtd's reinvestment in its own business, we're aware that returns are shrinking. And investors appear hesitant that the trends will pick up because the stock has fallen 32% in the last year. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.

最後,我們發現Guo Tai Epoint SoftwareLtd存在3個警示信號(其中1個有點不愉快),你需要警惕。雖然Guo Tai Epoint SoftwareLtd的回報率不是最高的,但請查看此高淨值客戶公司的免費名單。

On a final note, we found 3 warning signs for Guo Tai Epoint SoftwareLtd (1 is a bit unpleasant) you should be aware of.

請遵循以下規則:業務應翻譯爲業務,所有板塊應翻譯爲所有板塊,can應翻譯爲can,創業板應翻譯爲創業板,行業板塊應翻譯爲行業板塊,艾衛公司應翻譯爲艾衛公司,分析師應翻譯爲分析師,開多應翻譯爲開多。這表明它是一個複合機,能夠不斷地將收益重新投資到業務中,產生更高的回報。雖然,我們看Guo Tai Epoint SoftwareLtd(SHSE:688232)時,似乎沒有完全符合這些要求。

While Guo Tai Epoint SoftwareLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

請遵循以下規則:業務應翻譯爲業務,所有板塊應翻譯爲所有板塊,can應翻譯爲can,創業板應翻譯爲創業板,行業板塊應翻譯爲行業板塊,艾衛公司應翻譯爲艾衛公司,分析師應翻譯爲分析師,開多應翻譯爲開多。雖然Guo Tai Epoint SoftwareLtd的回報率不是最高的,但請查看此高淨值客戶公司的免費名單。

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.

對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。

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