Return Trends At ShuYu Civilian Pharmacy (SZSE:301017) Aren't Appealing
Return Trends At ShuYu Civilian Pharmacy (SZSE:301017) Aren't Appealing
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount 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. That's why when we briefly looked at ShuYu Civilian Pharmacy's (SZSE:301017) ROCE trend, we were pretty happy with what we saw.
你知道有一些財務指標可以爲潛在的多袋裝袋者提供線索嗎?除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 金額 所用資本的比例。這向我們表明,它是一臺複合機器,能夠持續將其收益再投資到業務中併產生更高的回報。這就是爲什麼當我們簡要查看舒宇民用藥房(深圳證券交易所代碼:301017)的投資回報率趨勢時,我們對所看到的情況感到非常滿意。
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. The formula for this calculation on ShuYu Civilian Pharmacy is:
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。ShuYu 民用藥房進行此計算的公式爲:
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)
0.11 = CN¥487m ÷ (CN¥8.8b - CN¥4.6b) (Based on the trailing twelve months to September 2023).
0.11 = 4.87億元人民幣 ÷(8.8億元人民幣-4.6億元人民幣) (基於截至2023年9月的過去十二個月)。
So, ShuYu Civilian Pharmacy has an ROCE of 11%. On its own, that's a standard return, however it's much better than the 7.0% generated by the Consumer Retailing industry.
因此,舒宇民用藥房的投資回報率爲11%。就其本身而言,這是標準回報率,但要比消費者零售行業產生的7.0%好得多。
See our latest analysis for ShuYu Civilian Pharmacy
查看我們對 ShuYu 民用藥房的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240101/0-304da9d4027bb79040d493a7bfe713e3-0-e60f4cc68c9ac3f979dcefc6e699a6a8.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for ShuYu Civilian Pharmacy's ROCE against it's prior returns. If you'd like to look at how ShuYu Civilian Pharmacy has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
歷史表現是研究股票的絕佳起點,因此在上面你可以看到ShuYu民用藥房投資回報率與先前回報對比的指標。如果你想在其他指標中查看ShuYu Civilial Pharmacy過去的表現,你可以查看這張過去的收益、收入和現金流的免費圖表。
What Does the ROCE Trend For ShuYu Civilian Pharmacy Tell Us?
ShuYu民用藥房的投資回報率趨勢告訴我們什麼?
The trend of ROCE doesn't stand out much, but returns on a whole are decent. The company has employed 223% more capital in the last four years, and the returns on that capital have remained stable at 11%. Since 11% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
ROCE的趨勢並不突出,但總體回報還是不錯的。在過去四年中,該公司僱用的資本增加了223%,該資本的回報率一直穩定在11%。但是,由於11%的投資回報率適中,因此很高興看到企業能夠繼續以如此可觀的回報率進行再投資。在很長一段時間內,這樣的回報可能不會太令人興奮,但只要保持一致,它們可以在股價回報方面獲得回報。
On a side note, ShuYu Civilian Pharmacy's current liabilities are still rather high at 52% of total assets. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
順便說一句,舒宇民用藥房的流動負債仍然相當高,佔總資產的52%。這實際上意味着供應商(或短期債權人)正在爲業務的很大一部分提供資金,因此請注意,這可能會帶來一些風險因素。理想情況下,我們希望看到這種情況減少,因爲這將意味着減少承擔風險的債務。
In Conclusion...
總之...
In the end, ShuYu Civilian Pharmacy has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last year, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
最後,ShuYu民用藥房證明了其以良好的回報率進行充分再投資的能力。而且,由於該股在去年強勁上漲,看來市場預計這種趨勢將繼續下去。因此,儘管該股可能比以前更 “昂貴”,但我們認爲強勁的基本面值得該股進行進一步研究。
If you want to know some of the risks facing ShuYu Civilian Pharmacy we've found 2 warning signs (1 is potentially serious!) that you should be aware of before investing here.
如果你想知道 ShuYu 民用藥房面臨的一些風險,我們發現了 2 個警告信號(1 個可能很嚴重!)在這裏投資之前,您應該注意這一點。
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提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。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,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。